Barclays Bank
Barclays Bank Review 2025: Savings and CDs
Online-only in the U.S., Barclays offers strong rates on savings and CDs.
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.
- No branch access.
- No checking account offered.
Full review:
What the Nerds think
“Barclays’ main strengths are high savings rates and no regular account fees. Plus, there are no minimums to open for savings accounts or CDs, which is an unusual perk. The online bank makes it easy to save money with no requirements or hassle, and you can open multiple savings accounts to save for different goals.”
Spencer Tierney, Banking Senior Writer
Savings
4.25% With $0 min. balance for APY
Bonus:
$200
Terms Apply.
The Barclays Tiered Savings account offers competitive interest rates across the board, though they vary based on account balance:
$0 to less than $250,000: 4.25% APY. $250,000 and greater: 4.50% APY.
There are no monthly fees or minimum balance requirements, and the bank’s website has an online calculator to help you set savings goals.
Note that the Federal Deposit Insurance Corp. insures up to $250,000 per depositor, per institution and per ownership category. If you plan to deposit large amounts, you’ll want to be mindful of insurance limits.
Savings
Barclays Online Savings Account
4.5
/5
NerdWallet rating
APY
3.90%
With $0 min. balance for APY
Bonus
N/A
We did not include this account in our overall bank rating, but it offers a solid yield. There is no minimum balance required to open an account, and there are no monthly fees.
Certificates of deposit
1-year APY
4.00%
3-year APY
3.00%
5-year APY
3.25%
Minimum deposit
$0
Barclays’ 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.
1-year CD: 4.00% 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.
- 6-month CD: 3.80% APY.
Customer experience
Barclays does not have branches, but you can get online and telephone help. You can call customer service any day from 8 a.m. to 8 p.m. Eastern time. You can also access your accounts via website or mobile app. Between the online services, you can view your account balances, transfer funds electronically and upload pictures of checks for mobile deposit.
How does Barclays compare?
APY
4.25%
With $0 min. balance for APY
Bonus
$200
Terms Apply.
APY
3.80%
With $0 min. balance for APY
Bonus
$300
Earn up to $300 with direct deposit. Terms apply.
Spencer Tierney
Spencer 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.