Barclays has two high-yield online savings accounts, both with competitive rates.
Its Tiered Savings account has an annual percentage yield of 3.50% on its lower tiers (balances less than $250,000) and 3.65% APY on its highest tier (balances between $250,000 and $1 million).
Its other account, the Online Savings account, earns 3.20% APY on any balance as long as you keep a penny in the account.
The Tiered Savings account, which is the account NerdWallet scores, has made our best high-yield savings accounts list for a few years.
Barclays’ savings accounts will only work well for people who don’t need a checking account at the same bank, are okay with online banking and won’t need to make cash deposits or wire transfers.
How Barclays’ savings rate compares to other banks
Barclays’ savings rate of 3.50% on its Tiered Savings account (for the lower tiers) and 3.20% APY on its Online Savings account is super competitive when compared to the national average rate of 0.38%.
Barclays' rate lags when compared to other online banks that don't offer checking accounts.
- Peak Bank: 4.01% APY
- Openbank: 3.80% APY
- Bread Savings: 3.95% APY
Compared to online banks that do offer excellent checking accounts, Barclays’ savings rate is competitive.
- Capital One: 3.00% APY
- SoFi: 3.10% APY
- E*TRADE by Morgan Stanley: 3.50% APY
» Learn more: Read our full review of Barclays Bank
Barclays savings rate, fees and features
APY |
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Requirements to earn the APY |
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Monthly fee | $0 for both accounts. |
Minimum opening deposit | $0 for both accounts. |
Savings features | None. These accounts don’t have special savings features, like being able to separate your savings by different goals. Though you can open multiples of each savings account here to manage savings goals, if you’d like. |
Funding options |
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Withdrawal options |
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Same-day transfers available? | No. |
Are the Barclays savings accounts right for you?
There’s no arguing that Barclays accounts earn good rates but they’re only going to be good accounts for you if you:
- Don’t need to make cash deposits or withdraw cash from your savings.
- Don’t need to make any wire transfers.
- Don’t need to open this account for a trust.
- Don’t need a guaranteed same-day transfer mechanism.
- Are okay with keeping your checking separate from your savings.
Calculate what you can earn at Barclays
Use our savings interest calculator to see what your savings could earn at Barclays versus other banks.
Investment details
Years
Total Balance
$0.00
Total principalTotal interest
Nerdy Perspective
A high rate matters, but it’s not the only thing I care about. I also want an account that lets me move my money easily, offers good customer support and has tools that make it easy to track my savings goals.
Other savings accounts at Barclays to consider
In addition to its two high-yield savings accounts, Barclays offers certificates of deposits. According to NerdWallet analysis of CD rate data, Barclays CDs with terms longer than 12 months have not been competitive in recent years. But the bank does sometimes feature short-term CDs with strong rates.
Next steps
Compare
See what the most competitive savings accounts are earning.
Learn
If you're ready to open an account, learn what you'll need to have on hand.
Consider
If you have savings you can live without for a bit, consider opening a CD to lock in an interest rate.
» MORE: See the best CD rates right now
