Barclays Bank CD Rates: December 2024

With no minimum deposit requirements and high interest rates, Barclays is a contender for the best CDs today

Fact checked by Michael Rosenston

Barclays is a 300-year-old British bank trying to stay globally relevant in modern times, and its CDs are a good-faith effort to that effect. Barclays Bank CD rates are good, and many people will appreciate its simple, straightforward options. 

Barclays Bank offers several terms for its online CDs in the United States market with rates up to 4.15% APY, which is competitive with many of the best CD rates.

Barclays Online CD Overview

Compare Barclay Bank Rates

Barclay Bank offers some CDs with competitive interest rates, but you may be able to find even higher returns on CDs by shopping around and comparing terms.

Barclays Bank CDs: Key Features

There is no minimum deposit required to open a Barclays CD. 

Use a CD interest calculator to check how much total interest you’d earn with one of Barclays Bank CD rates, based on the deposit amount you wish to make. 

Pros and Cons of Barclay Bank CDs

Pros

• Fairly competitive rates

• No minimum deposit requirement

Cons

• May find higher rates elsewhere

• Early withdrawal penalty

Pros Explained

• Fairly competitive rates: Some of Barclay Bank CDs offer high interest rates compared to other CDs.
• No minimum deposit requirement: Unlike many CDs, you don’t have a minimum deposit requirement with Barclay Bank CDs.

Cons Explained

• May find higher rates elsewhere: By shopping around, you may be able to find better interest rates and get higher returns for your investment.
• Early withdrawal penalty: Like many CDs, Barclay CDs have an early withdrawal penalty.

Important

Some people prefer opening CDs and savings accounts at other banks because it “hides” the account from themselves, making it easier to avoid the temptation to withdraw the money early. 

Alternatives to Barclay Bank CDs

• Other high-interest CDs: Many of Barclay Bank CDs offer competitive interest rates. Check the best CD rates currently available before making a deposit.
• High-yield savings account: If you want to protect your funds while also earning interest, you can also consider a high-yield savings account.
• Checking account: A checking account is another option for storing your cash, especially if you don’t want to be subject to withdrawal limits. Some high-interest checking accounts can provide more returns on your cash than traditional checking accounts.
• Money market account: Money market accounts are similar to savings accounts, though they may also come with check-writing abilities and a debit card. You can often earn a good rate on your savings, but you might have to deal with monthly fees or minimum balance requirements. 
• I bonds: I bonds from the U.S. government are an investment option for protecting your savings from inflation. I bonds may or may not offer a higher rate than the best CDs. When you invest, you have to commit to leaving your money in the I bond for at least a year.

Frequently Asked Questions (FAQs)

Is a Barclays CD Worth It?

Yes, a Barclays CD is a very good option if you’re looking to earn competitive rates and if you don’t mind opening a CD account at a new bank. For more CDs with high APYs, see the best CD rates currently available today.

Does Barclays Have a Minimum Deposit for CD Accounts?

No, Barclays doesn’t have a minimum deposit for its CD. But Barclays does require that you deposit enough to earn at least $0.01 in interest each month—otherwise, the bank won’t post any interest at all to your account and it’ll be stuck in an interest-free limbo until it matures.

What Is the Best Term Length for Barclays CDs?

Barclays Bank CD rates are currently the highest for its nine-month term. Normally rates are higher on the longest-term CDs. But given the strange high-interest-rate environment we’re currently in, many banks have reversed that pattern, likely so they’re not stuck paying ultra-high rates when they go back down in the future.

Are Barclays CD Accounts FDIC-Insured?

Yes, Barclays CDs are FDIC-insured. Just remember to keep your total deposits with Barclays under $250,000, which is the limit of FDIC insurance for all of your deposits at any particular bank. 

Your Guide to CDs

• What Is a Certificate of Deposit (CD)?
• What Is a Brokered CD?
• What Is a CD Ladder?
• Pros and Cons of CDs
• How to Invest With CDs
• How to Open a CD
• How to Close a CD
• CDs vs. Annuities
• CDs vs. Stocks
• CDs vs. Mutual Funds
• CDs vs. ETFs
• CDs vs. Savings Accounts
• Short-Term vs. Long-Term CDs
• CD Rates News
• Best 1-Year CD Rates
• Best 18-Month CDs
• Best Jumbo CD Rates
• Best 6-Month CD Rates
• Best 3-Month CD Rates
• Best Bank CD Rates

We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation.