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Barclays CD Rates: Competitive Short and Long Term Rates

Updated Barclays CD Rates: 12 month CD rates at Barclays at 2.52% with an APY of 2.55%. 24 month CD rates from Barclays at 2.57% with an APY of 2.60%. 60 Month CD rates from Barclays at 3.05 percent with an APY of 3.10 percent. Minimum balance to open an account is $0.

Barclays PLC (NYSE:BCS), the big multinational British bank, is offering some very competitive short term and long term CD rates. Barclays U.S. online banking division is offering certificates of deposit with terms ranging between 3 months and 5 years.

You might have become familiar with Barclays when the bank aquired the investment-banking and trading divisions of Lehman Brothers when they imploded in 2008.

Barclays makes opening a certificate of deposit account very easy. There is also a "Getting Started" video which shows you how to open an account step by step. The bank also provides a CD calculator which you can use to figure out your investment return.

Barclays CD Rates

3 Month APY 0.35%
6 Month APY 0.55%
9 Month APY 0.65%
12 Month APY 0.90%
18 Month APY 0.95%
24 Month APY1.15%
36 Month APY 1.40%
48 Month APY 1.60%
60 MonthAPY 1.75%

Barclays' CD accounts include no fees and no minimum open deposit. CD accounts are insured by the FDIC for up to $250,000 (FDIC Cert: 57203). Interest is compounded daily which maximizes your savings. Interest earned on the account is deposited into the account. You cannot receive interest disbursements at this time.

The early CD terminating charge is 90 days of simple interest regardless of the length of the CD account.

When you open an account you'll need to provide a social security number and current bank information for the bank account you plan to use to transfer money into and out of the Barclays account. You can link to any existing bank account to the Barclays account.

30 days before your CD account matures you'll receive an email alert from Barclays. When your CD matures, you must choose to either withdraw your money or have the balance automatically renewed into a new CD.

Of course the new CD will probably have a different rate than the rate you initially locked in. There is a 14 day grace period to decide whether to withdraw or renew. The 14 day period beings on the original CD maturity date.

Updated Barclays' CD Rates above: Barclays' website: Barclays' CD accounts.
Author: Brian McKay
May 7th, 2012