More than 33,000 people had £1million or more stashed in their savings accounts last year, according to new data.
It is estimated that 33,700 savers held at least £1million in bank or building society accounts in cash in 2025.
This was based on the number of people who declared at least £50,000 a year in interest to HM Revenue & Customs.
That figure is roughly the amount someone would pay if they had £1million cash and earned an interest rate of 5 per cent or less.
There are a variety of reasons why someone might have a large amount in cash, from older people who are sitting on a lifetime of savings, to those who have received an inheritance or cash from downsizing their home or selling a business.
