Barclays Savings Guide
Barclays operates in more than 50 countries across the globe and has more than 1,700 branches in the UK alone. Since it first opened its doors 300 years ago, the bank has become one of the most popular savings providers on the UK high street.
If you want to save money but can’t afford to tie up your savings into a long-term savings account, then an easy access savings account is probably best for you. With an easy access savings account there are no penalties for withdrawals at any time. You can also top up your balance as and when you want to.
If you want to save for the longer term, however, and don’t need access to your money, you may want to consider using a fixed rate bond. Fixed rate bonds generally offer higher interest rates than easy access accounts but your money is tied up for the duration of the bond.
You should try to use up your tax-free savings allowance first though with a cash ISA. Again, you can choose between a fixed or easy access variable rate account.
Make sure that you weigh up the advantages and disadvantages of the different Barclays’ savings accounts – and compare them to the wider savings market – before you make a decision about where to save.
The first £75,000 (as of January 2016) of any savings held with Barclays is protected by the Financial Services Compensation Scheme (FSCS).