Barclays Savings Rates U.S. at 1.00%
Barclays Bank U.S. is offering one of the best savings rates available right now for an online savings account in the U.S.. Barclays is offering a current savings rates and APY at 1.00% which is 6 times the national average rate right now. The bank's rate is also 10 times the FDIC's national average rate of 0.10%.
Opening an online savings account at Barclays is quick and easy. If needed, the bank also provides a video tutorial on opening an account. Some of the savings account features include no minimum opening deposit, no minimum balance and no fees.
Other features with a Barclays account is 24/7 online access. You can easily transfer money into and out of the account to other banks. Federal law limits withdrawals to 6 per month which is the case with any savings account at any bank.
You can also set up automatic direct deposit transfers (ACH) into the account. This is a good way to save money and since Barclays' rate is one of the highest savings rates available, it makes sense to save money in this account.
You can start "paying yourself" first by opening an account and setting up a direct deposit. Just put aside a certain percentage like 5% of your paycheck and you can always increase the percentage rate in the future. Some advise increasing the percentage rate by 1% each month for a gradual change.
For more information and to open an account go to the bank's website here: Barclays' Online Savings Account.
Update 6/10/12 - Barclays savings rates were recently increased by Barclays Bank which is interesting since they were already offering one of the highest savings rates in the U.S.
Barclays Bank savings rates which are consideribly higher above what most bank savings rates are right now. The Fed has kept the Fed Funds rate at zero percent since late 2008 and as a result all interest rates have fallen to record lows.
Banking & Finance InformationPersonal Finance