Barclays Increases Savings and CD Account APYs (December 2022)

Summary:

In response to the recent federal funds rate increases, Barclays Bank has increased the maximum APY for its Savings and CD accounts.

On December 14th, 2022, Federal Reserve officials raised the federal funds rate, for the seventh time this year. The Fed rate increased by half a percentage point, nudging financial institutions to increase the interest rates they offer savers.

Barclays Bank now offers CD rates up to 4.35% APY

Barclays Bank increased the APY on its Barclays CD account to now offer up to 4.35% APY depending on deposit term. The Barclays CD product offers a very competitive annual percentage yield (APY) while having no minimum opening deposit requirement and no minimum balance required to earn interest. The U.S. Bank CD Special account offers a range of terms between 3 and 60 months.

At a top rate of 4.35% APY, Barclays offers some of the most competitive CD yields available today.

Barclays Bank increases its savings account rate to 3.40% APY

For those who want the flexibility of earning a competitive APY while not locking their savings into a fixed term product, Barclays Bank offers its Barclays US Online Savings product.

The Barclays US Online Savings product annual percentage yield increased from 3.00% to 3.40% APY.

Key takeaways

  • Barclays Bank increased the annual percentage yield (APY) on its CD and Savings products
  • The APY on the Barclays CD Account is now up to 4.35% depending on the deposit term, which range from 3 to 60 months
  • The Barclays US Online Savings product annual percentage yield increased from 3.00% to 3.40% APY

About Barclays Bank

Barclays US is backed by Barclays, a transatlantic consumer and wholesale bank with global reach. Barclays Bank offers a range of financial products and services, including CD and savings accounts, credit cards, and loans.