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.

Barclays earned 4.1 out of 5 stars in Bankrate’s overall review of its deposit products, and its savings account scored 4.9 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 4.35% No minimum deposit

Note: The annual percentage yield (APY) shown is as of Sept. 5, 2023, 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 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 offers a variety of terms ranging up to five years, providing flexibility for those looking to build a CD ladder.