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London-based Barclays offers a limited selection of online banking products in the U.S., including a savings account. The rate on the bank’s Online Savings account is competitive, and there is no minimum balance required to open the account or earn the annual percentage yield (APY).
Although Barclays’ savings account pays a competitive APY, keen shoppers can find even higher savings rates elsewhere.
Bankrate’s review of Barclays provides insights into how the bank scores on product offerings, including its savings account.
Barclays savings account interest rate
The online bank offers only one savings account, with the same rate regardless of balance.
|Online Savings account
|No minimum deposit
Note: The annual percentage yield (APY) shown was last updated between Feb. 12 and Feb. 18, and may vary by region.
How Barclays savings account compares with top-yielding banks
Barclays offers a competitive rate on its Online Savings account and minimal fees. There is no monthly maintenance fee and the nonsufficient funds (NSF) fee is a low $5.
If you’re looking for the highest savings yields on the market, compare the rates on Bankrate’s list of the best savings accounts.
Other savings options at Barclays
If you want to lock up your money for a set amount of time with a fixed rate, then Barclays’ CDs are worth considering. The bank offers a variety of terms ranging up to five years, providing flexibility for those looking to build a CD ladder.