• Barclays Cd Rates Review
• Barclays Bank Savings Rates

1. Barclays Bank is federally insured by the FDIC. All deposits are insured up to $250,000 per depositor or $500,000 for joint accounts. Barclays Bank CD Rates To put these offers in perspective the current national average on a 12 month CD and a 60 month CD sit at just 0.22% and 0.47% APY, respectively.
2. Barclays savings account rates. If you want to lock up your money for a set amount of time, then Barclays’ CDs are worth considering. With the bank’s CDs.
3. Barclays Online Banking offers high yield savings accounts and CDs with no minimum balance to open.

Barclays Online CD Annual Percentage Yield (APY) for the CD term(s) mentioned above is valid as of XX/XX/XXXX. No minimum opening balance or deposit required to open. Fees could reduce earning on the account. Rates may change at any time without prior notice, before the account is opened. It's now on top for internet banks, tied with CIT Bank's 5-year CD (but this CIT Bank rate requires a $100K minimum deposit). You can get a little higher 5-year CD rate at a few credit unions and small banks, but the Barclays CD has the nice feature of a small early withdrawal penalty of 90 days of interest.

• Competitive interest rates
• Nine term options available

• No physical branches in the U.S.

• Customers who want the highest CD rates in the industry
• Customers comfortable with banking online

Overall, Barclays bank accounts would be unremarkable if not for its high-earning interest rates. In fact, the bank’s CD interest rates outperform many of its competitors. The accounts don’t come with special perks or allowances, though.

Barclays offers competitive interest rates on certificates of deposit (CDs). All of its accounts, with the exception of the three-month, six-month and nine-month accounts, offer interest rates at 0.25%. This means no matter the term length you choose, you can earn more than you would with many of its competitors. Furthermore, the bank compounds interest daily and credits it monthly.

Overview of Barclays CDs

You never have to pay any monthly fees or meet any minimum deposits with a Barclays CD. Of course, to earn interest you’ll need to have at least 1 cent in the account - although that won’t get you much return - within 14 days of account opening. You should carefully consider how much you want to deposit since you won’t be able to make any additional deposits during the account’s term.

You also can’t withdraw any of the principal balance from your Barclays CD before the account’s maturity date. If you do, you’ll have to pay a penalty of 90 days’ worth of simple interest on accounts of 24 months and 180 days’ simple interest on accounts longer than 24 months. These penalties tend to vary between financial institutions. Barclays does make exceptions in certain cases like death or incompetence of an account owner. You can, however, set up monthly disbursements of the interest earned to another bank account. This allows you to benefit from the account before its maturity date.

How Much You Earn With Barclays Certificate of Deposits Over Time

Barclays’ high certificate of deposit rates allow you to grow your money toward your savings goals, whether that’s a new car or a vacation. You stand to earn more by opening a CD with a term longer than three months since that account has the lowest rate.

You can also easily build a CD ladder with the bank’s CDs. A CD ladder involves opening a number of CDs at a time, each with a different maturity date. That allows you to have a somewhat steady stream of funds. So for example, you could have CD payouts after three, six, nine and 12 months. You would have to remember to withdraw or transfer your funds at each maturity date, before it automatically renews for the same term length.

The table below demonstrates what your final account balance could look like depending on various initial deposits and term lengths.

How Barclays CDs Rates Compare to Other Banks

Barclays offers its customers solid interest rates on CDs. As you can see below, it's generally on par with rates from Capital One, Ally Bank and Marcus by Goldman Sachs. However, Capital One is clearly weaker than its competitors when it comes to one- and three-year terms, whereas Barclays currently has the worst rate for the five-year category.

Barclays Cd Rates Review

Should You Get a Barclays CD Account?

Barclays Bank Savings Rates

With nine term options ranging from three months to five years, Barclays CDs allow you to save toward various savings goals. They also make it easy to create a CD ladder, where you open multiple CDs with spaced out maturity dates. That way you can benefit from CD payouts over the course of a year or more.

The bank doesn’t charge any maintenance fees or require minimum deposits and balances. This allows you to save on your own terms and keep your savings. You can also take monthly interest disbursements, without touching your principal amount. As always with CDs, be careful about making withdrawals so you don’t run into early withdrawal penalties. If you think you’re more likely to need constant access to your account, you may want to consider the Barclays Online Savings Account instead.