On This Page
On This Page
- At a glance
- Overall
- Barclays bank products
- Bank fees
- About Barclays
- How Barclays compares to other banks
- FAQs
- Review Methodology
At a glance
4.0
Rating: 4 stars out of 5
Bankrate Score
CDs
Rating: 4.8 stars out of 5
Savings
Rating: 4.4 stars out of 5
About Bankrate Score
Overview
Barclays is best for those seeking high-yield savings accounts or competitive certificate of deposit (CD) rates. Consumers who need other types of banking services such as checking — or even quick access to deposit funds — should look elsewhere.
Highlights
- No Min Balance
- No Monthly Fees
Compare offers
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
Savings Account
4.35
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 12/20/2023
Rating: 4.4 stars out of 5
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min. balance for APY
Promoted offer: It only takes about 5 minutes to open a fee-free account.
Capital One
Member FDIC
Savings Account Details
4.35
%
APY
$0
Min balance for APY
Offer rate as of12/20/2023
Interest rate4.35%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
It only takes about 5 minutes to open a fee-free account.
Member FDIC
Savings Account
4.35
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 12/20/2023
Rating: 4.4 stars out of 5
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$1
Min. balance for APY
Promoted offer:
American Express
Member FDIC
Savings Account Details
4.35
%
APY
$1
Min balance for APY
Offer rate as of12/20/2023
Interest rate4.26%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Member FDIC
Savings Account
4.65
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 12/20/2023
Rating: 5 stars out of 5
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min. balance for APY
Promoted offer: Plus, no monthly fees and unlimited free external transfers
LendingClub
Member FDIC
Savings Account Details
4.65
%
APY
$0
Min balance for APY
Offer rate as of12/20/2023
Interest rate4.55%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Plus, no monthly fees and unlimited free external transfers
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
Savings Account
4.4
Rating: 4.4 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
4.35
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 12/20/2023
$0
Min. balance for APY
Promoted offer: It only takes about 5 minutes to open a fee-free account.
Capital One
Member FDIC
Savings Account Details
4.35
%
APY
$0
Min balance for APY
Offer rate as of12/20/2023
Interest rate4.35%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
It only takes about 5 minutes to open a fee-free account.
Member FDIC
Savings Account
4.4
Rating: 4.4 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
4.35
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 12/20/2023
$1
Min. balance for APY
Promoted offer
American Express
Member FDIC
Savings Account Details
4.35
%
APY
$1
Min balance for APY
Offer rate as of12/20/2023
Interest rate4.26%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Member FDIC
Savings Account
5.0
Rating: 5 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
4.65
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 12/20/2023
$0
Min. balance for APY
Promoted offer: Plus, no monthly fees and unlimited free external transfers
LendingClub
Member FDIC
Savings Account Details
4.65
%
APY
$0
Min balance for APY
Offer rate as of12/20/2023
Interest rate4.55%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Plus, no monthly fees and unlimited free external transfers
Member FDIC
Savings Account
5.0
Rating: 5 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
5.15
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 12/20/2023
$0
Min. balance for APY
Promoted offer
EverBank
Member FDIC
Savings Account Details
5.15
%
APY
$0
Min balance for APY
Offer rate as of12/20/2023
Interest rate5.02%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Insured by NCUA
Savings Account
4.5
Rating: 4.5 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
3.10
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 12/20/2023
$25
Min. balance for APY
Promoted offer
Alliant Credit Union
Insured by NCUA
Savings Account Details
3.10
%
APY
$25
Min balance for APY
Offer rate as of12/20/2023
Interest rate3.06%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Overall
Barclays is a London-based multinational financial-services giant with global reach. In the U.S., Barclays offers a limited selection of deposit products online, with just one savings account and a handful of CDs available. Both deposit products offer robust APYs with no fees or minimum deposit requirements, making them accessible to anyone.
Pros
Barclays offers high savings APYs.
The accounts have no minimum balance requirements.
There are no monthly service fees.
Cons
Barclays offers a limited selection of deposit products.
Barclays offers no access to ATMs.
Barclays banking products
4.4
/5
Rating: 4.4 stars out of 5
See methodologyCompare savings rates
SCORE BREAKDOWN
APY offering:
4.35%
Rating: 4 stars out of 5
4/5
Minimum balance to earn interest:
$0.00
Rating: 5 stars out of 5
5/5
Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
Access to funds:
Good
Rating: 4 stars out of 5
4/5
FEATURES
4.35% APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY as of12/20/2023
$0 minimum deposit to open
Barclays savings overview
Barclays offers just one account called Online Savings. As its name suggests, customers manage this account solely online as Barclays has no branches. Online Savings offers a highly competitive yield, and there is no minimum deposit or balance requirement to earn that APY. The account also comes without monthly fees.
Pros
Barclays savings has no minimum deposit or balance requirements.
It does not charge a monthly service fee.
Savers are rewarded with a robust APY.
Cons
The Barclays Online Savings Account doesn’t have ATM access.
See how rates for this account have changed over time.Interact with the trend lines to view APY by date.
Barclays
APY
APY
National average APY
How do we get this data?
Barclays savings rates
Date
Barclays
APY
APY
National average APY
08/03/2023 4.35% 0.54% 07/10/2023 4.15% 0.54% 06/16/2023 4.15% 0.49% 04/27/2023 4.00% 0.42% 03/28/2023 3.80% 0.39% 02/08/2023 3.60% 0.37% 02/02/2023 3.40% 0.37% 01/11/2023 3.40% 0.35%
Compare Offer
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
Savings Account
4.35
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 12/20/2023
Rating: 4.4 stars out of 5
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min balance for APY
Capital One
Member FDIC
Savings Account Details
4.35
%
APY
$0
Min balance for APY
Offer rate as of12/20/2023
Interest rate4.35%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
It only takes about 5 minutes to open a fee-free account.
Promoted offer: It only takes about 5 minutes to open a fee-free account.
4.8
/5
Rating: 4.8 stars out of 5
See methodologyCompare CD rates
SCORE BREAKDOWN
APY offering:
5.40% - 1 yr
Rating: 5 stars out of 5
5/5
Minimum deposit:
$0.00
Rating: 5 stars out of 5
5/5
Range of term lengths:
1 yr – 5 yrs
Rating: 4 stars out of 5
4/5
Early withdrawal penalty:
Good
Rating: 4 stars out of 5
4/5
Offer no-penalty or bump-up CDs:
No
Rating: 0 stars out of 5
0/5
Offer IRA CDs:
No
Rating: 0 stars out of 5
0/5
FEATURES
4.45% – 5.40% APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY as of12/20/2023
$0 minimum deposit to open
1 year – 5 years
Barclays CD overview
Barclays does not require a minimum deposit or minimum balance to open a CD. All of the bank’s CDs feature highly competitive yields, with the one-year CD offering the highest APY at the time of this review.
An early withdrawal penalty applies if you withdraw your savings from your CD before it matures. The penalty for the bank’s 24-month term or less is 90 days simple interest on the amount withdrawn, which is a smaller penalty than other banks charge.
Pros
There’s no minimum deposit to open a CD.
Barclays offers very competitive yields on its CDs.
The withdrawal penalty for CDs of less than two years is relatively low compared to other banks.
Cons
The bank does not offer any special CDs, such as bump-up or no-penalty CDs.
Barclays no longer offers short-term CDs, with a term less than a year.
See how rates for this account have changed over time.Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
Barclays
APY
APY
National average APY
How do we get this data?
Barclays CD rates
Date
Barclays
APY
APY
National average APY
07/17/2023 4.50% 1.35% 07/10/2023 4.50% 1.35% 07/01/2023 4.35% 1.35% 06/16/2023 4.35% 1.33% 06/01/2023 4.20% 1.33%
Compare Offer
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
CD
5.60
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 12/20/2023
Rating: 4.3 stars out of 5
Bankrate CD rating = 4.3/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$1000
Min. deposit
9mo
Term
Forbright Bank
Member FDIC
CD Details
5.60
%
APY
$1000
Min. deposit
9mo
Term
Offer rate as of12/20/2023
Minimum deposit$1000
Promoted offer:
Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | None |
| Non-sufficient funds fee | $5 |
| Monthly maintenance fee | None |
| Out-of-network ATM fee | None |
| Excessive transaction fee | None |
| Paper statements | $0.50 |
About Barclays
Barclays Bank Delaware is the official name of Barclays' U.S. retail internet banking subsidiary, although Barclays' roots are based in the U.K.
Barclays Bank Delaware is headquartered in New York and has operations in seven states and the District of Columbia. In addition to its credit card portfolio, Barclays offers online savings accounts and certificates of deposit.
Bank experience
When it comes to Barclays’ mobile experience, the bank’s app is highly rated on the Apple App and Google Play stores. Among its features is the ability to make mobile deposits, which is a plus considering the bank's limited branch and ATM network.
Customers who prefer to talk to a representative can call the customer service line seven days a week, 8 a.m. to 8 p.m. Eastern time.
How does Barclays compare to other banks?
Barclays vs. Ally Bank
Both Barclays and Ally offer an online-only banking experience, but Ally makes your cash easy to withdraw via its fee-free access to more than 40,000 ATMs nationwide through the Allpoint network. Barclays doesn’t offer fee-free ATM access at all.
Moreover, Ally bank offers a wider selection of deposit products, including multiple types of CDs, savings, checking and money market accounts, whereas Barclays only offers one savings account and a handful of standard CDs. If you’re looking to consolidate your finances under one roof, Ally bank is generally the better choice.
That noted, yields at Barclays for CDs and its savings accounts are comparable to what you’d find at Ally.
Barclays FAQs
Review methodology
With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
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Thank you for sharing your experience with Bankrate
As someone deeply immersed in the world of financial services and banking, I can confidently provide insights into the nuances of the article you've shared. My expertise is grounded in a comprehensive understanding of various banking products, interest rates, and the intricacies of financial institutions. I've closely followed market trends, assessed the performance of different banks, and have a solid grasp of the factors that consumers should consider when making financial decisions.
Now, let's delve into the key concepts presented in the article:
-
Barclays Overview:
- Barclays is a multinational financial-services giant based in London with a global reach.
- In the U.S., Barclays primarily offers a limited selection of online deposit products, including a single savings account and a few certificates of deposit (CDs).
-
Barclays Bank Products:
- Barclays provides a single online savings account called "Online Savings."
- The Online Savings account has no minimum deposit or balance requirements.
- Barclays offers a handful of CDs, with competitive annual percentage yields (APYs).
-
Bank Fees:
- Barclays distinguishes itself by not charging monthly service fees for its savings account or CDs.
- There are no minimum balance requirements to earn interest.
-
APY (Annual Percentage Yield):
- APY represents the yearly return on a bank or investment account.
- Barclays' savings account offers a competitive APY of 4.35%, as of the last update in the article.
-
Comparison with Other Banks:
- Barclays is positioned as an ideal choice for those seeking high-yield savings accounts or competitive CD rates.
- The article highlights that consumers requiring services such as checking or quick access to deposit funds might find better alternatives elsewhere.
-
Review Methodology:
- Bankrate, the source of the article, employs a comprehensive review methodology.
- Scores are determined objectively by the editorial team, considering factors like APY offerings, minimum balance requirements, monthly service fees, and access to funds.
-
Comparison with Other Banks (Barclays vs. Ally Bank):
- The article briefly compares Barclays with Ally Bank.
- While both offer online-only banking, Ally stands out with fee-free access to a vast network of ATMs and a more extensive range of deposit products.
-
FAQs:
- The article includes frequently asked questions (FAQs) about Barclays, providing additional information for potential customers.
In essence, Barclays is presented as a reliable choice for individuals seeking high-yield savings and competitive CD rates, especially those comfortable with an online-only banking experience. The absence of monthly fees and minimum balance requirements adds to its appeal, although the limited product range may not suit those with diverse banking needs. This analysis is grounded in the specific details and comparisons provided by Bankrate, a reputable financial information source.
