Barclays Online Savings Account: 3.90% APY [Nationwide]

If you’re looking for a new savings account available nationwide, Barclays Online Savings Account is offering 3.90% APY on your funds, no minimum requirement and no monthly fees.

Update 3/6/25: The rate has decreased to 3.90% APY (from 4.00%).

About Barclays

Barclays is a multinational bank headquartered in the United Kingdom that operates in retail and investment banking, loans, credit cards, and asset management. With trillions of dollars in assets, the financial holding corporation is one of the largest in the world.

Barclays Online Savings

• Account Type: Barclays Savings Account
• Interest Rate: 3.90% APY
• Minimum Balance: None
• Maximum Balance: None
• Availability: Nationwide
• Credit Inquiry: Unknown
• Opening Deposit: None
• Monthly Fee: None
  
• Early Termination Fee: None

Barclays ACH Capabilities & Limits

Editor’s Note: ACH transfers are limited to $250,000 per transaction. If you want to transfer a larger amount, they can process the transfer if you call. Help us with the table above in the comment section if you have experience with ACH capabilities.

Account Rates

Barclays Account Benefits

• No monthly maintenance fee or monthly requirements to waive service fees
• No minimum balance requirement to open an account, unlike most banks, however for interest to post to your account you must maintain a minimum balance that would earn you at least $0.01
• Secure, 24/7 online access to your funds
• Use their online Savings Assistant tools to achieve your financial goals and calculate how much you’ll need to contribute monthly
• Money inside your Barclays savings account is safe and insured by the FDIC

Barclays Online Savings $200 Bonus (Expired)

New Barclays Savings customers through 5/3/2024 can earn a $200 bonus after depositing $25,000 and earn 3.90% APY.

How to earn it:

• Open a Barclays Savings account
• Fund your new savings account with at least $25,000 within the first 30 days of opening the account
• Maintain the balance of at least $25,000 for 120 consecutive days.
• After you maintain the $25,000 balance for 120 consecutive days, the $200 bonus will be added to your account in approximately 60 days.

Terms: $200 Bonus Offer: To qualify for this bonus offer, you must be a new Barclays Savings customer (current and previous Barclays customers with a Savings account or CD are not eligible), open an account 3/4/2024 through 5/3/2024, fund your new savings account with at least $25,000 within the first 30 days of opening the account, and maintain the balance of at least $25,000 for 120 consecutive days. After you maintain the $25,000 balance for 120 consecutive days, the $200 bonus will be added to your account in approximately 60 days. Offer expires 5/3/2024. You may make multiple deposits to your account from another financial institution(s) to meet the offer requirements, provided these deposits all occur no later than 30 days after opening the new savings account. The funds deposited into your Barclays Savings account will earn the then current annual percentage yield listed on barclaysus.com/deposits for the Barclays Savings account. Withdrawals could affect your eligibility to earn the bonus if the withdrawal causes the account balance to drop below $25,000. The 120 consecutive days will not start until the $25,000 is deposited within 30 days from opening the account. The bonus will be applied and treated as interest for tax purposes and could require Barclays to send you a Form 1099-INT (Interest Income) and file it with the IRS for the year in which you earn the bonus. While there is no minimum required to open a Barclays Savings account, as described above there is a minimum balance required to earn the bonus offer.

Author’s Verdict

This is a pretty good savings account rate with just a minimum of $0.01 balance. If you know of any account similar to this or better, please let us know by commenting below!

Additionally, if you happen to know whether this account incurs a hard/soft pull, please let us know. Let us know about your thoughts and experience with this account! Be sure to check back on BankDealGuy for more bank rates!

In addition to the current rate from Barclays, you can also take advantage of a range of great promotions from banks such as HSBC Bank, Chase Bank, Huntington Bank, Discover Bank, TD Bank, or CIT Bank.