Many people think of Barclays as a large European bank; however, they also have a significant presence in the United States. Not only do they offer a generous Barclays bonus on the Barclays Tiered Savings Account, but some of Barclays CD rates are highly competitive.

Below, you will find some of the Barclays Bank CD rates and some of the features.

Barclays CD Rates Overview

Key Features Barclays Bank CDs

One of the perks of Barclays CDs is that they’re incredibly straightforward and transparent and help you grow your savings without much risk. Here are some of the features:

• No Monthly Fees: When you open a Barclays CD, you can rest easy knowing that your money will stay yours because there are no monthly fees for having an account.
• No Minimum Deposit: Some online banks require a minimum opening deposit for a CD. However, Barclays Bank does not require a minimum deposit.
• Interest Compounds Daily: With a Barclays Bank CD, the interest you earn will compound daily and be paid out at the end of each month. You can choose to receive the interest or roll it into your CD.
• Early Withdrawal Penalties: If you choose to withdraw funds from your CD before it matures, you will be charged early withdrawal penalties. For CD term lengths of 24 months or less, the fee will be 90 days interest. For a CD Term length of more than 24 months, the fee will be 180 days of interest.
• FDIC Insurance: Whether you’re using a Barclays CD, a Barclays savings account, or a Barclays money market account, your money is insured through FDIC insurance.

How Do Barclays CD Rates Compare?

Do you want to compare the current Barclays Bank CD rates to what else is available? Here are a few other options to consider.

Pros and Cons of Barclays CD Rates

As you’re comparing Barclays CD rates to other banks, you’ll want to make sure you consider the pros and cons.

Pros of Barclays CDs

• Competitive Interest Rates: While Barclays CDs don’t have the highest interest rates, they are very competitive, especially on their 12-month CD.
• No Minimum Deposit: Because Barclays Bank doesn’t have a required minimum opening deposit, their CDs are accessible to anyone.
• Multiple Term Lengths Available: You’ll have the ability to choose from eight different CD Term lengths.

Cons of Barclays CDs

• No Branch Locations: Barclays Bank is 100% online in the United States. You won’t be able to visit a branch location.
• Early Withdrawal Penalties: Similar to many other banks that don’t have no-penalty CD options, you will be charged a fee if you withdraw the funds before the CD’s maturity date.

How to Open a Barclays Bank CD

Once you’re ready to open a Barclays CD account, you must be at least 18 years old, a U.S. citizen, or a resident alien with a valid Social Security number or taxpayer identification number.

When you open your account, you’ll need to provide the following:

• Full legal name
• Mailing Address
• Social Security or Tax ID number
• Date of Birth

Alternatives to Barclays Bank CDs

Other High Interest CDs: While Barclays Bank CDs have competitive interest rates, you’ll want to check out our best CD rates page to see if there are CD products that might a better fit.

High-Yield Savings Accounts: If you want to earn competitive rates but maintain access to your money, you could consider an online savings account.

Money Market Account: These accounts are very similar to savings accounts because they offer a competitive APY, but you’ll be able to write checks from the account and use a debit card. Plus, you’ll want to make sure there are no minimum deposit requirements or monthly service fees.

Checking Account: Most checking accounts won’t be a good comparison to a CD because they won’t help you earn interest. However, a few reward checking accounts will either pay interest or cash back. For example, you could consider Discover Cash Back Checking or SoFi Checking and Savings.