Interest rates
Rates may change at any time without prior notice, before or after the account is opened. No minimum balance to open, but for interest to post to your account you must maintain a minimum balance that would earn you at least $0.01. Barclays Online CD Annual Percentage Yield (APY) for the CD term(s) mentioned above is valid as of XX/XX/XXXX. The rate of 2.45% is 1.25% higher than the average 1.2%. Also it is 0.15% lower than the highest rate 2.60 Updated Aug, 2019.
For savings and bank accounts available for new and existing applicants
For clients of Barclays Bank Plc Isle of Man and Jersey [PDF, 164KB]
- The Federal Reserve cut rates in March 2020, which encouraged banks and credit unions to lower their CD rates. Rates have fallen since then and will likely continue in that direction before they.
- Barclays has lowered its online savings rate from 1.15% APY to 1% APY this afternoon. Barclays Bank Delaware Lowers Its Online Savings rate from 1.00% to 0.80% APY Jul 31, 2020.
Historic interest rates
International Savings - Personal Only [PDF, 181KB]
Interest rate leaflets following March 2020 USD and GBP base rate changes
GBP leaflet for clients of Barclays Bank PLC [PDF, 348KB]
USD leaflet for clients of Barclays Bank PLC [PDF, 381KB]
Barclays Cd Rates Review
Barclays Bank base rate for overdrafts and loans
Barclays Bank base rate [PDF, 245KB]
Mortgage interest rates
Standard variable rate for mortgages [PDF, 153KB]
External rates
External reference rates for currencies used by International Banking Services.
International tariffs
London, Jersey and the Isle of Man
For accounts held with Barclays Bank Plc in London, Guernsey, Jersey and the Isle of Man [PDF, 257KB]
Fee Information Document for the International Bank Account [PDF, 269KB]
Fee Information Document for the Euro International Bank Account [PDF, 272KB]
Fee Information Document for the Dollar International Bank Account [PDF, 272KB]
Fee Information Document for the Barclays Current Account [PDF, 269KB]
Fee Information Document for the Premier Global Current Account [PDF, 274KB]
Fee Information Document for the Overseas Currency Account [PDF, 266KB]
Liqudity fee explained [PDF, 565KB]
Overseas Delivery Charges
Barclays Overseas Delivery Charges [PDF, 1.3MB]
Payment cut-off times
Cut-off times for Barclays Bank Plc (Jersey and Isle of Man) [PDF, 52KB]
Barclay Savings Account
Offshore transfers IBAN regulation
What you need to know to send money abroad.
Debit Card Foreign Exchange Charges
Debit Card transactions in a currency other than GBP incur a 2.75% non-Sterling transaction fee (excluding EUR/USD Travel Wallet transactions).
For more details on our FX debit card charges, including a table showing our exchange rates for certain currencies compared to the rate published by the European Central Bank (ECB), please visit barclays.co.uk/travel/using-debit-card-abroad/. Please note this link brings you to our Barclays UK website (and away from this current site) which offers different products which you may not be eligible for and links which may not be applicable. Please also note for all regulatory information and protections please only refer to the Important Information page on this current website.
[Update January 2021: Barclays CD rates are flat on terms ranging from 12 months through 5 years. The current yield on these deposits is just 0.25% APY, down from 0.30% APY earlier this month.]
The online-only, US division of Barclays Bank has a simple set of bank deposit accounts that feature some noteworthy yields.
Their current product suite consists of an online savings account and 9 regular term CDs ranging from 3 months to 5 years. The current yields on their certificates of deposit, while higher than the national average(s) for terms of 1 year or greater, do not vary all that much at this time. For example, all Barclays CDs with terms between 12 and 60 months come with an APY of 0.25% at the moment.
Barclays CDs can be opened online in minutes and their products are available to US citizens and residents over the age of 18 in all 50 states.
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.
Given the fact that Barclays Bank has static yields on terms ranging from 12 to 60 months, their 12 month CD is going to be more competitive when compared to the national average than the 5 year CD – although both beat it handily.
How is Interest Calculated and Paid
All Barclays CDs compound interest daily and credit it monthly to your account. You can choose to have these funds kept in your deposit to compound further, transferred to a Barclays online savings account or transferred to an external account.
Fo those that would like the interest transferred, here’s how to set that up:
- Select the Account detail tab,
- Go to the Additional Details section.
- Under CD interest disbursement, select the Edit option.
Please note that you’ll need the wiring information and bank account number to where the funds will be disbursed.
Early Withdrawal Penalties
Watch out for early withdrawal penalties. Barclays bank doesn’t offer any promotional, one-time early withdrawal option that some other online banks do.
If you need access to your funds prior to your CD’s maturity you can expect to pay the following:
- For a CDs with terms less than 24 months, a penalty equaling 90 days simple interest on the dollar amount withdrawn subject to penalty will be imposed,
- for CDs with a term of more than 24 months, a penalty equaling 180 days simple interest on the dollar amount withdrawn subject to penalty will be imposed.
What Happens When Your Barclays CD Matures
Barclays gives you ample time to decide what to do with your funds when your CD matures. They will send you an email alert notifying you of your upcoming CD maturity roughly 30 days prior to the maturation date. At this time you may login to your account and make your maturity selection. You can choose to do nothing and have the CD renew, withdraw some or all of the funds, or change the term of your CD.
Upon maturity you will be allotted a 14 day grace period in which you can withdraw funds (or add them) without any penalty. To withdraw funds, you’ll need to contact them in writing or by phone before the grace period is over. For more detailed instructions, call the Barclays Customer Care team at 888-710-8756, 7 days a week from 8:00 am to 8:00 pm ET.
If nothing is done during this 14 day grace period, your CD will automatically renew into the same term deposit with whatever yield is currently being offered at that time.
Important: Be sure to set up your own alerts as these emails can be accidentally sent to your junk mail.
Barclays Bank specializes in great online savings rates. Their deposit product selection, while limited, all feature above average yields.
That said, the flat yields across their longer term fixed-rate CDs is less than ideal for those looking to lock in 3 to 5 year CDs.
While Barclays CD rates certainly beat the national average(s) for their respective terms, higher yields can be found on longer terms through other online banks and nationally available credit unions.