Available nationwide, Barclays is offering a high rate of 4.10% APY to all balances when you open an Online Savings account. The competitive rate has an opening deposit of only $1 and there are no monthly fees or minimum balance requirements.
Update 11/11/24: The rate has decreased to 4.10% APY (from 4.20%). We recommend our top picks – the Western Alliance savings account or the M1 Finance Cash account.
About Barclays Savings
Established since 1690 by John Freame and Thomas Gould(James Barclay joining the business in 1736) in London, England, Barclays has been at the forefront of new ideas and a major global financial services company. Barclays offers retail banking, credit cards, corporate and investment banking, and wealth management.
Barclays Online Banking gives customers an easy-to-use and safe way to do their banking. The Barclays Online Savings account earns a competitive rate with no minimum deposit and there are no monthly fees. There is also online access 24 hours a day, 7 days a week.
| Balance Requirement | APY Rate |
| $0.01 | 4.10% APY |
Barclays Online Savings Rate
- Account Type: Barclays Savings Account
- Interest Rate: 4.10% APY
- Minimum Balance: $0.01
- Maximum Balance: None
- Availability: Nationwide
- Credit Inquiry: Unknown
- Opening Deposit: None
- Monthly Fee: None
- Early Termination Fee: None
Barclays ACH Capabilities & Limits
| ACH Type | Speed | Daily $ Limit | Monthly $ Limit | Notes |
| Push | ? | $250,000 | ? | up to 3 external linked accounts |
| Pull | ? | $250,000 | ? | up to 3 external linked accounts |
Federal law says that customers can only make up to six free transfers or withdrawals per statement cycle. For any transactions over this amount, Barclays charges a $5 fee.
ACH transfers are limited to $250,000 per transaction. If you want to transfer a larger amount, they can process the transfer if you call. Help us with the table above in the comment section if you have experience with ACH capabilities.
How To Earn Barclays Rate
- Open a Barclays Savings Account
- Input your info – Provide your name, address, phone, email and social security number or Tax ID.
- Fund the account – Transfer funds electronically from an internal account here or an external account at another bank.
- Earn 4.10% APY for your balances.
Why You Should Sign Up For This Account
- No monthly maintenance fee or monthly requirements to waive service fees
- No minimum balance requirement to open an account, unlike most banks, however for interest to post to your account you must maintain a minimum balance that would earn you at least $0.01
- Secure, 24/7 online access to your funds
- Use their online Savings Assistant tools to achieve your financial goals and calculate how much you’ll need to contribute monthly
- Money inside your Barclays savings account is safe and insured by the FDIC
Barclays Online Savings $200 Bonus *No Direct Deposit Requirement* (Expired)
New Barclays Savings customers through 5/3/2024 can earn a $200 bonus after depositing $25,000 and earn 4.10% APY.
How to earn it:
- Open a Barclays Savings account by 5/3/2024.
- Fund your new savings account with at least $25,000 within the first 30 days of opening the account
- Maintain the balance of at least $25,000 for 120 consecutive days.
- After you maintain the $25,000 balance for 120 consecutive days, the $200 bonus will be added to your account in approximately 60 days.
Terms: $200 Bonus Offer: To qualify for this bonus offer, you must be a new Barclays Savings customer (current and previous Barclays customers with a Savings account or CD are not eligible), open an account 3/4/2024 through 5/3/2024, fund your new savings account with at least $25,000 within the first 30 days of opening the account, and maintain the balance of at least $25,000 for 120 consecutive days. After you maintain the $25,000 balance for 120 consecutive days, the $200 bonus will be added to your account in approximately 60 days. Offer expires 5/3/2024. You may make multiple deposits to your account from another financial institution(s) to meet the offer requirements, provided these deposits all occur no later than 30 days after opening the new savings account. The funds deposited into your Barclays Savings account will earn the then current annual percentage yield listed on barclaysus.com/deposits for the Barclays Savings account. Withdrawals could affect your eligibility to earn the bonus if the withdrawal causes the account balance to drop below $25,000. The 120 consecutive days will not start until the $25,000 is deposited within 30 days from opening the account. The bonus will be applied and treated as interest for tax purposes and could require Barclays to send you a Form 1099-INT (Interest Income) and file it with the IRS for the year in which you earn the bonus. While there is no minimum required to open a Barclays Savings account, as described above there is a minimum balance required to earn the bonus offer.
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Bottom Line
For those of you looking for a savings account with a high APY rate, look no further as Barclays’ Savings Account offers a competitive rate. You’ll start accruing interest at a high rate as soon as they post to your account.
Let us know about your experience with this bank and comment below.
For more bank offers, see the complete list of Best Bank Rates!
*Check back often to see the latest Barclays Online Savings Rate!
Do not trust the advertised savings APR. Find our the history of the APR for an account, and you will find out that the rates change dramatically, far away from the advertised rate’. A few years ago banks clearly stated that the APR’s were ‘introductory’ ones. Shortly after opening an account, they dropped the rate dramatically.
Now they do not not say this anymore, instead, they promises a high APR, but shortly after you opened the account, the APR again drops dramatically.
One example is Barclay’s, their APR has not dropped below 1% in almost a decade (10) years. No bad surprises there.