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Barclays CDs have some of the best CD rates on the market. It’s all due to the impressive APYs which start at 3.50% and go up to 5.00% for six-month and 12-month CDs. With no fees, no minimum deposits and multiple-term options, these products are accessible to a wide range of people.
Before you choose a CD from Barclays or another bank, take time to understand the terms.
This guide covers all the essential details about Barclays CDs, including:
Barclays online CD rates range from 3.50% to 5.00%, depending on the term length. You can get the highest annual percentage yield (APY) of 5.00% on its six-month CD and one-year CD. The lowest rate, 3.50%, is available on three-year and four-year CDs.
The best part? You can open a CD account with no minimum deposit and no maintenance fees.
All CDs from Barclays are traditional and come with a fixed rate. That means that growth is predictable — your money will continue to earn at the same rate throughout the term.
The bank doesn’t offer no-penalty CDs; in other words, you’ll pay a fee for withdrawing money before the account matures. You’ll also need to go elsewhere for products such as bump-up CDs.
Here are the Barclays online CD rates for the seven available CD terms:
| Term | APY | Minimum Deposit |
|---|---|---|
| 6 months | 5.00% | $0 |
| 1 year | 5.00% | $0 |
| 18 months | 4.50% | $0 |
| 2 years | 4.00% | $0 |
| 3 years | 3.50% | $0 |
| 4 years | 3.50% | $0 |
| 5 years | 3.75% | $0 |
*Figures are correct as of May 2024.
If you’re looking to maximize interest earnings on money you don’t need to use immediately, the high Barclays US CD rates can be attractive. Before you start the application process, take time to understand the fine print.
Your money is safe in a Barclays online CD. Barclays is a member of the Federal Deposit Insurance Corporation (FDIC), which means that each CD is FDIC-insured.
If you’re opening an individual account, you’re automatically insured for a maximum of $250,000 across all your deposit accounts at the bank. In other words, your money would be safe even if Barclays went under.
Like many online CDs, Barclays compounds interest daily and adds it to your account once per month. You have the option to leave the money in your CD, where it can earn more interest, or have the bank deposit the funds into a savings account for easy access.
Barclays CDs are designed to sit untouched until the term ends. You can access the money before then, but you’ll pay a penalty.
The early withdrawal penalty depends on the CD term:
When your CD term is up, you have 14 days to decide what to do with the money. You can withdraw it during that period without paying a penalty.
Don’t need to access the funds? Do nothing, and Barclays will renew the account for you using the same term length. Your rate will likely be different from the Barclays CD rates today; the bank will determine it based on its offerings at the time of renewal.
Your Barclays CD earnings vary based on your initial deposit, the term length and the associated APY. For example, let’s say you have $10,000 to put in a CD.
Assuming that you choose to credit the interest back to the CD, here’s what you’d earn with each Barclays CD:
| CD Term | APY | Earnings |
|---|---|---|
| 6 months | 5.00% | $252.26 |
| 1 year | 5.00% | $512.33 |
| 18 months | 4.50% | $697.12 |
| 2 years | 4.00% | $832.25 |
| 3 years | 3.50% | $1,106.28 |
| 4 years | 3.50% | $1,501.59 |
| 5 years | 3.75% | $2,061.93 |
*Figures are correct as of May 2024. The calculations shown are just a simple example. Always seek advice from a qualified professional before making important financial decisions or long-term agreements.
If you can’t feasibly leave the entire amount in a CD account for up to five years, consider CD laddering.
Instead of investing the entire amount in one CD, you can split it up over multiple accounts with varying terms. You’ll still benefit from the higher CD rates, all while preserving access to your money as the shorter-term accounts mature.
Barclays CDs may be a good choice if you’re looking for short-term savings products. After all, the maximum available term is five years. You’ll see the most value by using money you’re not likely to need during the entire term.
We like Barclays CDs because of their accessibility. These accounts don’t have fees or a minimum deposit, making it easy for anyone looking to grow their savings.
Whether you have $1,000 or $10,000, Barclays CDs help you get the most from your money. With so many flexible term options, it’s easy to find a duration that suits your financial plans.
Still pondering a Barclays CD? These pros and cons can help you make a decision.
Because Barclays CDs are administered online, you can open one quickly.
Here’s what to expect:
Choose between a single or joint CD account.
Enter your personal details and contact information.
Provide identification information, such as your Social Security number. You may need to upload documentation, such as a passport or state ID, to prove your identity.
Choose a CD term.
Connect a bank account to fund your CD; you’ll need account and routing numbers.
Set up a transfer into your CD.
Decide whether you want to credit interest to your CD balance or deposit it in savings.
When the money arrives in your CD, you don’t need to take further action unless Barclays makes a request. At the end of the term, you can withdraw the money or renew the account.
All Barclays CDs come with rates that are much higher than the national average, according to the FDIC. Even the lowest available APY — 3.50% for a 36-month CD — is more than twice as high as the national average of 1.41%. The average rate for a six-month CD is 1.57%; the Barclays six-month CD has an APY of 5.00%, which is more than three times higher.
CDs from Barclays are also competitive with most other banks.
Here’s a side-by-side comparison of how Barclays CD rates compare to other popular options:
| CD Term | Barclays CD rate | Capital One CD rate | Discover CD rate | Marcus CD rate |
|---|---|---|---|---|
| 12 month | 5.00% | 4.80% | 4.70% | 4.90% |
| 18 month | 4.50% | 4.45% | 4.40% | 4.60% |
| 24 month | 4.00% | 4.00% | 4.00% | 4.20% |
| 36 month | 3.50% | 4.00% | 3.75% | 4.15% |
| 60 month | 3.75% | 3.90% | 3.75% | 4.00% |
*Figures are correct as of May 2024.
Barclays has higher rates than Capital One CDs for most terms, with a few exceptions. The two banks both offer similar benefits, including no fees or minimum deposits. Barclays offers fewer term lengths, and neither provider offers anything other than traditional, fixed-rate CDs.
Compared to Discover, Barclays CDs are a better option for most consumers. You’ll get higher rates on most term lengths. Plus, while Discover requires a minimum deposit of $2,500, you can open a Barclays CD with any amount.
If you’re looking for a longer-term savings product, however, Discover could be a good option. It offers both seven-year and 10-year CDs, both with an APY of 3.75%. Barclays’ longest term is five years.
When it comes to rates, CDs from Marcus are higher than those offered by Barclays. The difference is particularly noticeable in the 36-month CD; the Marcus rate is 4.15% compared to Barclays’ 3.50%. You also have the option to open a six-year CD.
Marcus offers a rate guarantee that ensures you’ll get the highest available APY offered during the 10 days after you open the account — as long as it’s funded within that period. It’s important to note that you must deposit at least $500 to open a Marcus CD.
A CD isn’t the only savings product that earns interest; Barclays also offers a high-yield savings account.
Looking to consolidate multiple accounts with the same bank? You can choose from a small selection of personal finance products, including personal loans and a variety of credit cards.
The Barclays savings account is a high-yield product that comes with an APY of 4.35% — which is on par with other competing accounts. The bank doesn’t require a minimum deposit to open an account, and you won’t pay any maintenance fees.
You can access the money at any time without a penalty, which could make this account more attractive if you’re stuck between a CD or a savings account. It has a solid earning potential, but you won’t be charged if you need quick cash after a storm takes out your roof.
A Barclays CD is a great option if you need a savings product with a high APY and you don’t need to access the money for the duration of the term. Barclays offers some of the highest CD rates available and does not charge fees or require a minimum deposit.
Barclays offers standard fixed-rate CDs. You can choose from a variety of term lengths ranging from six months to five years.
The term lengths with the highest APYs are six months and 12 months.
The highest interest rate you can get with a Barclays CD is 4.88%. Because the bank offers compounding interest, these rates give you an annual percentage yield (APY) of 5.00%.
Yes, Barclays charges a penalty if you withdraw money before the end of the CD’s term. The penalty is 90 days of simple interest for CDs with a term of 24 months or less and 180 days of simple interest for CDs with a term that’s longer than 24 months.
Barclays is a British company that has multiple divisions, including a U.S. consumer bank. The company also operates consumer, corporate, investment, wealth and private banks in the United Kingdom.
Elizabeth Smith is an experienced travel and finance writer who specializes in topics including credit cards, travel insurance, and personal finance. Travel insurance, in particular, has both professional and personal significance for Smith. She’s traveled to 73 countries, and has extensive experience choosing and using various policies — she understands how valuable the right plan can be in an emergency, and loves to help readers find the perfect fit.
Smith comes to the world of finance from a scientific and technical background. She spent more than 10 years writing about engineering, science, and technology for universities and private companies. When she’s not writing or traveling, Smith can usually be found hiking or Nordic skiing.
