Barclays offers a limited selection of banking products in the United States, including a savings account. The rate on the online bank’s savings account is competitive and there is no minimum balance required to open the account.
Although the bank offers a savings account with respectable rates, you can still find higher APYs elsewhere.
Barclays earned 4.7 out of 5 stars in Bankrate’s review across its deposit products.
Barclays savings account rates
The online bank only offers one savings account and it offers the same rate regardless of your balance.
|Account name||Interest rate’||APY||Minimum deposit|
|Online savings account||1.29%||1.30%||No minimum deposit|
Note: The APY (Annual Percentage Yield) shown is as of May 22, 2020. The APY may vary by region.
How Barclays savings account compares to top-yielding banks
Barclays offers an attractive rate on its savings account. However, the Barclays Online Savings account is not the most competitive account on the market. You could secure a higher APY at several other banks, including Comenity Direct and Vio Bank. Before choosing a savings account, check out the best accounts available today.
Other savings options at Barclays
If you want to lock up your money for a set amount of time, then Barclays’ CDs are worth considering. With the bank’s CDs, you can enjoy a range of term options that could help you build out a CD ladder. Terms available on the CDs range from three months to five years.