Barclays certificate of deposit review

Would you like to learn about all the features of the Barclays Certificate of Deposit? At Responsible Economy, we have conducted a comprehensive analysis that covers its interest rate, fees, requirements, and everything you need to know. Additionally, we provide a comparison with the top certificates of deposit available in 2023. Welcome aboard!

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Barclays certificate of deposit review

Features

In this section, we will provide a detailed explanation of the various characteristics of the Barclays Certificate of Deposit:

Interest rates

The interest rate provided by Barclays is determined by the duration of the chosen term. The highest rate available is 5% APY. This competitive rate can be attained for terms of months. For a comprehensive view of all the terms and associated interest rates, please refer to the image provided below:

TermInterest RateAPY
12 Month CD4.88%5.00%
18 Month CD4.78%4.90%
24 Month CD4.31%4.40%
36 Month CD4.21%4.30%
48 Month CD4.16%4.25%
60 Month CD4.40%4.50%
Barclays certificates of deposit rates

Terms

As mentioned earlier, you have the option to request a certificate of deposit with a minimum term of one year and a maximum term of five years. This provides flexibility in choosing the duration that aligns with your financial goals and preferences. Whether you prefer a shorter-term commitment or a longer-term investment, Barclays offers a range of options to suit your needs.

Fees

One of the notable advantages of the Barclays certificate of deposit is that it is commission-free. This means that you won’t be charged any fees or commissions for opening and maintaining the certificate of deposit. Additionally, the process of opening the certificate of deposit is free, ensuring there are no upfront costs associated with it. Furthermore, there are no monthly interest charges, allowing you to maximize your earnings without any deductions.

Minimum deposit

With the Barclays certificate of deposit, there is no requirement for a minimum deposit amount or maintaining an average balance on the CD. This flexibility allows you to open a certificate of deposit with any amount that suits your financial situation. Whether you choose to deposit a small or large amount, Barclays does not impose any specific minimum deposit or average balance conditions, providing convenience and accessibility for individuals looking to invest in their CD.

Best certificate of deposit in 2023

We have conducted a comprehensive comparison between the Barclays Certificate of Deposit and other top certificates of deposits available for opening in 2023. Here is a table summarizing the key characteristics of each CD:

Logo capital One CDs
  • 5.25% APY
  • Minimum deposit: $0
  • Term: 18 months
  • Member FDIC
Marcus by Goldman Sachs
  • 5.10% APY
  • Minimum deposit: $500
  • Term: 12 months
  • Member FDIC
CIT Bank Logo
  • 5.00% APY
  • Minimum deposit: $1,000
  • Term: 6 months
  • Member FDIC
synchrony-bank-logo
  • 5.40% APY
  • Minimum deposit: $0
  • Term: 16 months
  • Member FDIC
Alliant Logo
  • 5.18% APY
  • Minimum deposit: $1,000
  • Term: 12 months
  • Member FDIC
Bask bank logo
  • 5.15% APY
  • Minimum deposit: $1,000
  • Term: 12 months
  • Member FDIC
Barclays Logo
  • 5.15% APY
  • Minimum deposit: $0
  • Term: 12 months
  • Member FDIC
BMO logo
  • 5.25% APY
  • Minimum deposit: $1,000
  • Term: 13 months
  • Member FDIC

Certificates of deposit calculator

We have developed a deposit calculator so that you can easily see how much money you can earn:

Barclays certificate of deposit calculator

Barclays Certificate of deposit calculator

Your earnings:
Total Result:

Video with the best certificates of deposit

Here you a have a video with 10 the best certificate of deposit that you can open in the United States:

Best certificate of deposit

Pros and cons

Certainly! Here is a table summarizing the advantages and disadvantages of the Barclays Certificate of Deposit, taking into consideration the analysis and comparison with other top certificates of deposits in the United States:

ProsCons
High interest rateLow number of ATMs
No feesLow number of branches
No minimum deposit
Pros and cons Barclays certificate of deposit

Requirements

Here is a list of the requirements that need to be met to open a Barclays Certificate of Deposit:

  • Age Requirement: You must be over 18 years old to be eligible for the certificate of deposit.
  • Residency: You need to be a resident of the United States.
  • Social Security Number: A valid Social Security Number is required for the application.
  • American Checking Account: You must have an active American checking account to facilitate transactions and deposits.

Frequent questions

If you still have any doubts, here we will solve all your questions:

Conclusion and opinions

After conducting a thorough analysis, our assessment is that the Barclays certificate of deposit offers favorable conditions due to its high interest rate, absence of monthly commissions, and no minimum deposit requirement. However, it is important to note that Barclays has a limited number of physical offices and ATMs, which may affect the convenience of in-person banking services for some customers. It is recommended to consider this factor when evaluating the overall suitability of the Barclays certificate of deposit for your specific needs and preferences.

More information about Barclays

We have made a table with interest information about Barclays:

InformationDescription
Websitehttps://www.banking.barclaysus.com/
Twitterhttps://twitter.com/barclaysbankus
Facebookhttps://www.facebook.com/BarclaysBankUS/
Phone 888-710-8756
Interest information about Barclays

Related content

Finally, you have a related posts about certificate of deposit:

Updated the day 1 September, 2023 by Alfredo Barandiarán

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