The online-only, US division of Barclays Bank has a simple set of bank deposit accounts that feature some noteworthy yields.
Their current product suite consists of an online savings account and 9 regular term CDs ranging from 12 months to 5 years. The current yields on their certificates of deposit are higher than the national average for each term.
Barclays CDs can be opened online in minutes and their products are available to US citizens and residents over the age of 18 in all 50 states.
Barclays Bank CD Rates + Account Details
Barclays Bank US is member FDIC. All of their deposits are federally insured up to the applicable limits.
CD Rates
| Term | APY |
| 12 months | 5.00% |
| 18 months | 4.90% |
| 24 months | 4.40% |
| 36 months | 4.30% |
| 48 months | 4.25% |
| 60 months | 4.50% |
To put these offers in perspective the current national average on a 12 month CD and a 60 month CD sit at just 1.72% and 1.37% APY, respectively, according to recent FDIC data with top yields from online banks inching over the 5.25% and 4.50% APY mark for the same respective terms.
How Do Barclays CD Rates Compare?
Take a look at the table below to see how Barclay Bank’s CD rates compare to competitive CD rates offered by other FDIC-insured online banks.
| Bank | Best CD Rate (APY) |
| Ally Bank | 5.00% |
| American Express | 4.75% |
| Tiaa Bank | 5.25% |
| Barclays | 5.00% |
How is Interest Calculated and Paid
All Barclays CDs compound interest daily and credit it monthly to your account. You can choose to have these funds kept in your deposit to compound further, transferred to a Barclays online savings account or transferred to an external account.
Fo those that would like the interest transferred, here’s how to set that up:
- Select the Account detail tab,
- Go to the Additional Details section.
- Under CD interest disbursement, select the Edit option.
Please note that you’ll need the wiring information and bank account number to where the funds will be disbursed.
Early Withdrawal Penalties
Watch out for early withdrawal penalties. Barclays bank doesn’t offer any promotional, one-time early withdrawal option that some other online banks do.
If you need access to your funds prior to your CD’s maturity you can expect to pay the following:
- For a CDs with terms less than 24 months, a penalty equaling 90 days simple interest on the dollar amount withdrawn subject to penalty will be imposed,
- For CDs with a term of more than 24 months, a penalty equaling 180 days simple interest on the dollar amount withdrawn subject to penalty will be imposed.
How to Open and Fund your Barclays CD
To open a CD with Barclays navigate here and select the CD you’d like. Then be prepared to have some personal information handy to expedite the process.
Personal Information Required:
- Valid email address
- Valid phone number
- Home Address (no PO Box)
- Valid Driver’s License or equivalent government issued ID
- Social Security Number
Once you’re ready to fund your CD, you’ll have 4 ways to complete the process. These are:
- Remote deposit from smartphone or home computer.
- Set up direct deposit with Barclays
- Transfer the funds electronically via ACH
- Mail a check to Barclays at P.O. box 4538 Carol Stream IL, 60197
If you’re funding your Barclays CD via ACH transfer, you’ll want to have your current bank or credit union’s routing number as well as your account number.
What Happens When Your Barclays CD Matures
Barclays gives you ample time to decide what to do with your funds when your CD matures. They will send you an email alert notifying you of your upcoming CD maturity roughly 30 days prior to the maturation date. At this time you may login to your account and make your maturity selection. You can choose to do nothing and have the CD renewed, withdraw some or all of the funds, or change the term of your CD.
Upon maturity you will be allotted a 14 day grace period in which you can withdraw funds (or add them) without any penalty. To withdraw funds, you’ll need to contact them in writing or by phone before the grace period is over. For more detailed instructions, call the Barclays Customer Care team at 888-710-8756, 7 days a week from 8:00 am to 8:00 pm ET.
If nothing is done during this 14 day grace period, your CD will automatically renew into the same term deposit with whatever yield is currently being offered at that time.
⏰ Remember: Be sure to set up your own alerts as these emails can be accidentally sent to your junk mail.
How Much Can you Earn with a Barclays Bank CD?
How much you earn with a Barclays CD is going to depend on your deposit size, the CD’s term and its APY. Take a look at the table below to see how much money you would make assuming a deposit size of $50,000.
| CD Term | APY | Earnings |
| 12 months | 5.00% | $2,500.00 |
| 2 years | 4.40% | $4,496.80 |
| 3 years | 4.30% | $6,731.33 |
| 5 years | 4.50% | $12,309.10 |
Barclays CD FAQ’s
Still have questions about Barclays certificates of deposit? See what other consumers are asking around the web along with our responses below.
Are Barclays CDs Safe?
Yes. Despite being headquartered in London, Barclays US is member FDIC and consumer deposits are federally insured up to $250,000 per depositor or $500,000 for joint accounts. Their FDIC number is 57203.
Does Barclays Offer IRA CDs?
No. Barclays does not offer IRA CDs at this time.
What is Barclays Bank’s Routing Number?
Barclays US routing number is 031101321.
