Spencer Tierney is a consumer banking writer at NerdWallet. He has covered personal finance since 2013, with a focus on certificates of deposit and other banking-related topics. His work has been featured by The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among others. He is based in Oakland, California.
Lead Assigning Editor Tony ArmstrongTony Armstrong leads the banking team at NerdWallet. He has covered personal finance for nearly a decade. Tony began his NerdWallet career as a writer and worked his way up to assistant assigning editor and then to lead assigning editor. His writing has been featured by the Los Angeles Times, MarketWatch, Mashable, Nasdaq.com, USA Today and VentureBeat. Tony lives in Minneapolis, Minnesota.
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NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
The bottom line:London-based Barclays provides services to tens of millions of people worldwide. Its U.S. banking operation, which is online-only, offers solid annual percentage yields on its savings accounts and certificates of deposit — but it doesn’t offer a checking account. The bank offers multiple savings accounts, including the Tiered Savings Account, which gives customers different interest rates based on their account balance.
Barclays also lacks a U.S. branch network, so it’s best suited for consumers who don’t require in-person assistance. But if you value high savings rates, you might be able to overlook these limitations.
Best for: Those who want high rates on savings or CDs and don’t need a checking account or in-person services.
No monthly fees. Competitive rates on savings and CDs. No minimum opening deposits on savings accounts and CDs. Extended phone customer service hours. Limited branch access. No checking account offered. Low-rated mobile apps./5 NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
With $0 min. balance for APYWith low fees and strong rates, Barclays is a good bank to boost your savings. The Online Savings option pays a 4.20% APY on all balances and its website has a calculator for setting savings goals. There are no monthly fees or minimum balance requirements.
/5 NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
With $0 min. balance for APY Learn moreBarclays offers the new Tiered Savings Account. The account offers different interest rates based on account balance:
$0 to less than $250,000: 4.50% APY. $250,000 and greater: 4.80% APY.
Keep in mind that the Federal Deposit Insurance Corp. insures up to $250,000 per depositor, per institution and per ownership category.
/5 NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
Annual Percentage Yield (APY) is accurate as of 08/06/2024
Annual Percentage Yield (APY) is accurate as of 08/06/2024
Annual Percentage Yield (APY) is accurate as of 08/06/2024
Minimum deposit Learn more Show detailsBarclays' CD rates are much more competitive than what you’ll find at a traditional bank, but not quite as high as what you can find at other online banks. There's no minimum opening deposit, so you can save any amount you can afford. If you're weighing whether to open a certificate of deposit, consider this article on when CDs are worth it .
» Ready to compare? Check out the best CD rates
See the list of Barclays CD rates 6-month CD: 5.10% APY. 1-year CD: 3.75% APY. 18-month CD: 3.25% APY. 2-year CD: 3.00% APY. 3-year CD: 3.00% APY. 4-year CD: 3.00% APY. 5-year CD: 3.25% APY.NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
At this bank, you get online and telephone help. You can contact customer service any day from 8 a.m. to 8 p.m. Eastern time. The Barclays website is optimized for smartphones and allows you to deposit checks electronically. The bank also has mobile apps for U.S. customers. The app for iOS gets decent ratings, but the Android app scores below two stars.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet ratingNerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 8/27/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
With $0 min. balance for APY
With $5,000 min. balance for APY
Earn up to $300 with direct deposit. Terms apply.
Learn moreat SoFi Bank, N.A.
Learn moreNerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.
About the author
Spencer TierneySpencer Tierney is a writer and NerdWallet's authority on certificates of deposit. His work has been featured by USA Today and the Los Angeles Times.Read more
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