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).
Barclays’ savings account pays a competitive APY, though keen shoppers can find slightly higher savings rates elsewhere.
Barclays earned 3.9 out of 5 stars in Bankrate’s overall review of its deposit products, and its savings account scored 5 out of 5.
Barclays savings account rates
The online bank offers only one savings account, with the same rate regardless of balance.
|Account name||APY||Minimum deposit|
|Online Savings account||0.70%||No minimum deposit|
Note: The annual percentage yield (APY) shown is as of May 3, 2022, 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 $5.
If you’re looking for the highest yields on the market, compare the rates on Bankrate’s top 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 features nine terms from three months to five years, providing flexibility for those looking to build a CD ladder.