Review
Updated
Fact Checked
Ashley Maready
Online bank Barclays is giving money to new savings account users for a limited time. Check out what promos are on offer and how much you could earn.
Barclays Savings Account Bonus: Earn $200 with a $25,000 deposit
Member FDIC.
Ratings Methodology
Rates as
of May 01, 2024
Barclays Online Savings
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Best
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New customers can earn a $200 bonus with a minimum $25,000 qualifying deposit. Terms apply.
APY
4.35%
Min. To Earn APY
$0
- Competitive APY
- No monthly account fee
- Limited-time bonus up to $200
- Comfort of a well-known brand and reputation
- Unlimited number of external transfers (up to daily transaction limits)
- FDIC insured
- No ATM access
- No wire transfers (inbound and outbound)
- No branch access; online only
The Barclays Online Savings account is backed by one of the oldest and largest financial institutions in the world. It has a competitive APY, has no monthly fees, and doesn't have a minimum deposit requirement. Unlike many savings accounts, Barclays doesn't limit the number of withdrawals that can be made from its savings accounts.
Special offer: New customers can earn a $200 bonus by opening a new account. Terms apply.
To qualify for this $200 Bonus, you must be a new Barclays Savings customer, open an account March 4, 2024 – May 3, 2024, fund the account with at least $25,000 within the first 30 days of opening, and maintain the $25,000 balance for 120 consecutive days. After meeting these qualifications, the $200 bonus will be added to your account in approx. 60 days. Offer expires May 3, 2024. You may make multiple deposits from another financial institution to fund this account so long as at least $25,000 is deposited no later than 30 days from open date. Withdrawals which drop the balance below $25,000 could affect your bonus eligibility. The bonus will be treated as interest and Barclays could send you a Form 1099-INT for tax reporting. While there is no minimum deposit to open a Barclays Savings account, this bonus offer requires a $25,000 minimum deposit. Offer subject to change or cancellation without notice.
How you earn it: Open a Barclays Online Savings. Within 30 days, fund it by $25,000 or more. Keep at least $25,000 on your savings balance for 120 consecutive days.
How you qualify: This promo is open only to new Barclays Online Savings customers. If you've opened a savings account or CD with Barclays before, you're ineligible.
Where to open an account: You can open an account through the Barclays website.
Monthly fees: The Barclays Online Savings account doesn't charge monthly fees.
Offer expires: May 3, 2024.
What else should you know about Barclays bank bonuses?
Barclays frequently updates its promos, so it's worth checking in once a year to see if anything has changed. We track the latest Barclays promotions here.
Are Barclays bank promotions worth it?
The Savings Account Bonus is worth considering if you like what Barclays has to offer otherwise. The online bank is known for its high APYs on savings accounts and certificates of deposit (CDS).
The $200 bonus is comparable to others in its class, though the $25,000 deposit requirement is on the steeper side. Two similar bonuses from other banks are available:
- A $200 TD Savings Account bonus for depositing $10,000 into a new TD Signature Savings or TD Simple Savings account.
- A $300 SoFi Checking and Savings account bonus for depositing $5,000 through direct deposits.
Each of these offers has its pros and cons, so it's worth weighing all your options before deciding.
Available bank bonuses update frequently. It's worth checking out the best bank bonuses of the month for a birds-eye view of what's on offer.
High-yield savings account comparison
We recommend comparing high-yield savings account options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of standout accounts.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Rating image, 4.75 out of 5 stars.
4.75/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 4.60%
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
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New customers can earn up to a $300 bonus with qualifying direct deposits!
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Rating image, 4.75 out of 5 stars.
4.75/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
5.05% APY for balances of $5,000 or more
Rate info
5.05% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $100 to open account, $5,000 for max APY
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N/A
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Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.35%
Min. to earn: $0
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New customers can earn a $200 bonus with a minimum $25,000 qualifying deposit. Terms apply.
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FAQs
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Barclays will send you the $200 Savings Account Bonus about 60 days after successfully maintaining your $25,000 account balance for 120 days in a row.
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You can get a Savings Account Bonus once, when you open the account.
Our Banking Experts
Cole Tretheway is a full-time personal finance writer whose articles have been featured on The Ascent and The Motley Fool. He has a degree in English with a Certificate in Professional and Technical Communication from California Polytechnic University, SLO.
Fact Checked
Ashley Maready
Ashley Maready is a former history museum professional who made the leap to digital content writing and editing in 2021. She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University. Ashley loves creating content for the public and learning new things so she can teach others, whether it's information about salt mining, canal mules, or personal finance.
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Cole Tretheway has no position in any of the stocks mentioned. The Motley Fool recommends Barclays Plc. The Motley Fool has a disclosure policy.