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Barclays has great rates on their CDs with no minimums – available online-only in the U.S.
- Update 3/1/2023: APY rates for their 12-month and 18-month CDs increased to 5.00% and 4.80%, respectively.
- Update 12/17/2023: APY rates for their 12-month and 18-month CDs increased to 4.50%.
- Update 12/16/2022: APY rates have increased for all term lengths.
Barclays is a good bank for saving money because it has low fees and good rates. Their online savings and CD (Certificate of Deposits) accounts offer competitive rates, and there are no monthly fees or minimum balance requirements.
See below for details on their CD accounts.
Read more: See the current Barclays Online Savings rate here.
Barclays Online CD Account Details
Barclays has online certificates of deposit (CDs) with terms from one to five years and competitive rates.
Here is a table with the current CD terms and rates from Barclays:
| Term | APY |
| 12 Month CD | 5.00% |
| 18 Month CD | 4.80% |
| 24 Month CD | 4.35% |
| 36 Month CD | 4.30% |
| 48 Month CD | 4.30% |
| 60 Month CD | 4.30% |
CDs can be renewed, and Barclays will send you a notice 30 days before the CDs expire. When the term of a CD is up, you can either renew it or get your money out. Customers can also get interest payments every month, which can be moved to their Barclays savings account or to another bank account.
If you take money out of a Barclays CD before it matures, you have to pay a fee. For one- and two-year CDs, the fee is equal to 90 days of simple interest on the amount you took out. When you cash out a longer-term CD early, you have to pay a fee equal to 180 days of simple interest.
Who’s Barclays Best For?
Barclays accounts are best for those who don’t need a checking account or in-person services but want high rates on savings or CDs with no minimums.
Barclays Online CDs are good options if you care more about getting a high yield and low fees than getting help in person at a branch or using an ATM.
Read more: See the Barclays Online Savings page here.
The Banking Experience
You mostly get the basics at Barclays. You can get help from customer service through Twitter every day from 8 a.m. to 8 p.m. Eastern time. Their iOS and Android apps are highly rated.
Read more: Compare savings rates here and CD rates here…
Bottom Line
Barclays’ U.S. banking business is only available online. Its savings account and CDs have good rates, but it doesn’t offer a checking account.
Barclays also doesn’t have any bank branches in the U.S., so it’s best for people who don’t need help in person. But for competitive rates, you might look past that.
READ MORE: See The Best Bank Promotions Here And The Best Investing Promotions Here
