bank rates

Barclays’ Savings Account Joins Leaders

It pays 1.00% APY with no minimum balance requirement.It’s been months since we’ve been able to add a bank to our list of national savings account leaders.

But Barclays, the huge British financial services company, has recently begun offering an online savings account through its U.S. banking operation, Barclays Bank Delaware.

The account pays 1.00% APY, which is good enough for second place on our list of the best nationally available savings accounts.

The account has no minimum deposit requirement and pays 1.00% APY regardless of how large your balance becomes.

Find out more information at the bank’s website, www.banking.barclaysus.com. The bank also has a couple of fairly competitive CD rates, the best of which is a 60-month CD that pays 1.75% APY.

Barclays is a nice addition to our rankings of nationally available savings accounts, but its offer falls well short of the top spot held by TIAA Direct (www.tiaadirect.com), which pays 1.25% APY on its savings account.

You only need to make a $25 minimum deposit to open an account with TIAA Direct. The rate of 1.25% APY applies to all balances.

TIAA Direct is a division of TIAA-CREF, the large retirement and financial services company.

Just one other bank pays at least 1.00% APY on its savings account. That’s Salem Five Direct (www.salemfivedirect.com), which offers a guaranteed 1.00% APY through the August statement cycle.

It takes a $100 minimum deposit to open an eOneSavings Account with Salem Five Direct. The rate is good on balances up to $500,000, and you must open an account online to earn 1.00% APY.

Salem Five Direct is the online division of Salem Five Bank in Salem, Mass., which has about two dozen branches in the Boston area.

Outside of these savings accounts, there are a couple of nationally available money market accounts that pay at least 1.00% APY. See our most recent post on where to find the top MMA rates.

You can compare these rates to the best savings and money market account rates from our extensive database of banks.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (3)
1 Star2 Stars3 Stars4 Stars5 Stars (2 votes, average: 4.50 out of 5)
Loading...
3 Existing Comments
  1. Geoff said:
    on April 19th at 12:27 pm

    A critical S is missing from the Barclays link. It should be:
    http://www.banking.barclaysus.com

  2. Mike Cetera said:
    on April 19th at 12:29 pm

    Geoff: Nice catch. We’ve fixed the address above.

  3. Kathy at Bankaholic said:
    on May 7th at 09:31 am

    These rates are still available.