Barclays Online CD rates are worth exploring if you're looking for high-yield interest with little commitment. With no fees and no minimums, it's perfect for investors with less than $500 to invest. Below is a more detailed look at Barclays Online CD rates, how they stack up against other top banks, and who should get a Barclays Online CD.
Barclays Online CD rates for 2024
Rates as of June 7, 2024
APY = Annual Percentage Yield
Barclays Online CD
Bottom Line
Barclays offers competitive rates on most common CD terms with no minimum balance requirements. There are no monthly fees, so you likely won't lose money unless you try to withdraw your funds early. Those interested in building longer-term CD ladders will find plenty to like here.
MINIMUM DEPOSIT $0
Open Account for Barclays Online CD
| 6 Mo. APY | 1 Yr. APY | 1.5 Yr. APY | 2 Yr. APY | 3 Yr. APY | 4 Yr. APY | 5 Yr. APY |
|---|---|---|---|---|---|---|
| 4.85% | 5.00% | 4.50% | 4.00% | 3.50% | 3.50% | 3.75% |
Compare Barclays Online CD rates
Barclays Online CD rates are higher than the national average and in line with many of its competitors. It has especially competitive rates on its 1-year CDs, ideal for short-term savers.
Rates as of June 7, 2024
| Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
|---|---|---|---|---|
Discover® Bank CD Member FDIC. | APY:4.70% | Term:1 Year | Min. Deposit:$2,500 | Open Account for Discover® Bank CD |
Western Alliance Bank CD | APY:5.05% | Term:1 Year | Min. Deposit:$1 | Open Account for |
Western Alliance Bank CD | APY:5.15% | Term:9 Months | Min. Deposit:$1 | Open Account for |
Nationwide CD Member FDIC. | APY:4.75% | Term:1 Year | Min. Deposit:$500 | Open Account for Nationwide CD |
Overview of Barclays Online CDs
You can invest in Barclays Online CDs with as little as $1 and choose from a flexible range of terms. Interest is credited monthly. You can withdraw interest to a Barclays savings account or external bank account every month or keep it in your CD to earn interest. Principal funds withdrawn before the maturity date face early withdrawal fees.
| Minimum Deposit | $0 |
|---|---|
| Range of Term Lengths | 6 months to 5 years |
| Compounding Schedule | Daily |
| Early Withdrawal Penalty | 90 days simple interest for CD terms 2 years or less; 180 days simple interest for CD terms longer than 2 years |
| Grace Period | 14 days |
Data source: Barclays.
Barclays Online CD pros and cons
Barclays offers a combination of great rates and no minimums. But other banks offer more short-term CDs you can stagger to create a CD ladder.
Pros
- Higher CD rates than the national average
- No minimum deposit requirements
- No monthly fees
Cons
- Only one CD term of less than one year
How much can you earn with a Barclays Online CD?
Interest rates change, but you can lock in a great rate by opening a CD account. Here's a table illustrating what potential earnings could look like if you deposited $1,000.00 into a Barclays Online CD.
The numbers in the table below may not be accurate to current APYs and are for example purposes only.
| Term | APY | Earnings |
|---|---|---|
| 6 months | 4.85% | $24.54 |
| 1 year | 5.00% | $51.27 |
| 1.5 years | 4.50% | $69.83 |
| 2 years | 4.00% | $83.28 |
| 3 years | 3.50% | $110.71 |
| 4 years | 3.50% | $150.27 |
| 5 years | 3.75% | $206.22 |
Data source: Author's calculations.
Is a Barclays Online CD safe?
It is safe to invest in a Barclays Online CD. Barclays is FDIC insured, so your money is secured up to $250,000 per depositor. If something happened to Barclays, you'd get your money back.
How to open a Barclays Online CD
Opening a Barclays Online CD is easy. Just follow the steps below:
1. Open an account on the Barclays website
You will need to choose between opening a single and joint account.
2. Enter your personal info
You'll want your Social Security or Taxpayer Identification number on you, as well as your residential address.
3. Connect your bank accounts
Have an external bank or routing number handy to fund your account.
4. Choose how much to fund your account
Barclays Online CDs have no minimum deposit requirements.
5. Accept Barclays terms and conditions
Once you accept the terms and conditions, you're all finished.
Who is a Barclays Online CD right for?
A Barclays Online CD is right for short-term investors with less than $500 to invest. Rates are high on short-term CDs, and there is no minimum deposit to open an account.
Bottom line: Barclays Online CD rates
Barclays Online CD
- 6 APY: 4.85%
- 12 APY: 5.00%
- 18 APY: 4.50%
- 24 APY: 4.00%
- 36 APY: 3.50%
- 48 APY: 3.50%
- 60 APY: 3.75%
Show All Rates [+]Hide All Rates [-]
Rates as of June 7, 2024
APY = Annual Percentage Yield
Term
Barclays Online CD
6 Mo.
1 Yr.
1.5 Yr.
2 Yr.
3 Yr.
4 Yr.
5 Yr.
4.85%
5.00%
4.50%
4.00%
3.50%
3.50%
3.75%
Keep reading about Barclays
- Barclays Online Savings Review
- Barclays Promotions
Review sources
Our CDs methodology
At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.
Learn more about how The Motley Fool Ascent rates bank accounts.
FAQs
There is no minimum deposit for a Barclays Online CD.
You are charged early withdrawal fees if you withdraw any of your original contribution, the principal, before your CD matures. This charge is higher for longer CD terms.
Yes, but you will be charged an early withdrawal fee if you close your account after the 14-day grace period ends.
Our Banking Experts
By:Cole Tretheway
Cole Tretheway is a full-time personal finance writer whose articles have been featured on The Ascent and The Motley Fool. He has a degree in English with a Certificate in Professional and Technical Communication from California Polytechnic University, SLO.
By:Matt Frankel, CFP®
Writer, Analyst
Matt is a Certified Financial Planner™ and investment advisor based in Columbia, South Carolina. He writes personal finance and investment advice for The Ascent and its parent company The Motley Fool, with more than 4,500 published articles and a 2017 SABEW Best in Business award. Matt writes a weekly investment column ("Ask a Fool") that is syndicated in USA Today, and his work has been regularly featured on CNBC, Fox Business, MSN Money, and many other major outlets. He’s a graduate of the University of South Carolina and Nova Southeastern University, and holds a graduate certificate in financial planning from Florida State University.
Fact CheckedNathan Alderman
Fact checker
Nathan Alderman has worked with The Motley Fool since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As The Ascent's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.
