As families prepare for summer holidays, Skipton Building Society has outlined how to make an extra £800 to fund a trip. Analysis of CACI data from May 2026 showed around 80 million UK current accounts were earning no interest.
Rather than starting a side hustle, simply moving those balances to a top-paying account can make a difference. At today's ISA rates, transferring the full annual allowance of £20,000 into a fixed-rate account earning 4% could yield at least £800 in a year.
Make your savings work harder
Alex Sitaras, head of savings at Skipton Building Society, encouraged Brits to make their savings work harder. He said: "At a time when many are jetting off on their summer holiday, it’s worth remembering that making your savings work harder can be just as effective as finding extra money to save."
"Whether it’s earning a little bit of extra towards flights or accommodation, using a cash ISA can help ensure you’re getting the most out of your savings allowance."
"Yet millions of savers are missing out on returns that could make a difference to their plans by leaving money in little or no interest accounts."
"Everyone’s goals are different, but at a time when households are looking to make their money go further, securing a competitive rate could make a meaningful impact over time."
Holiday costs covered
With this return, holidaymakers could afford a seven-night package holiday next year in Tenerife or Corfu. As of July 27, TUI offered bed and breakfast for seven nights in Tenerife for £709 per person, and in Corfu for £726 per person, for departures in a year's time. For solo travellers, this could cover the full cost; families could put the return towards a trip abroad.
Other accounts available
The AlRayan Bank 1 Year Fixed Rate Cash ISA pays 4.7% interest, requiring at least £1,000 to open. OakNorth Bank pays 4.63% on its Fixed Rate Cash ISA and can be opened with £1. Tesco pays 4.4% on its Fixed Rate Cash ISA, also openable with £1. Skipton Building Society pays 4.00% AER on its 1-Year Fixed Rate Cash ISA, yielding £800.
