Barclays- 5% variable saver on up to £5k

Perksy5

Available now through the barclays app under savings accounts.

Exclusive to blue reward members only.

Rainy Day Saver is opened with instant access:

Open from £1
Instant access
Earn a rate up to 5% gross on balances up to £5k and 0.15% on balance over 5k.
Limited to one account per customer. 
Open and manage via app, online, telephone and branch.

What do you think?

jaypers

Absolute no brainer if you meet the criteria. 

Martico

I've done it already. Should add that the Blue rewards scheme costs £5 per month and you have to pay £800 into the linked current account every month. You get that £5 back if you have two DDs per month set up from that linked current account

NedS

As a life-long Barclays customer, I opened mine yesterday too. So much better deal than all the regular saver accounts where you are limited how much you can feed in each month. A great home for £5k (or £10k for a couple) cash relative to what else is out there.

MSE_Ben_T

Thanks for posting. For more info please see: https://www.moneysavingexpert.com/news/2022/09/barclays-savings-blue-rewards/

strawb_shortcake

Wow, I'd been considering leaving Barclays as their offerings are typically so poor, but will be opening an account this evening 

masonic

MSE_Ben_T said:

Thanks for posting. For more info please see: https://www.moneysavingexpert.com/news/2022/09/barclays-savings-blue-rewards/

Nice article, Ben. I think it would be of value to summarise the hoops required to qualify for this savings account as outlined by Martico above in your final 'cons' bullet point. A switching bonus is always nice, but as this account is worth up to £10 per month extra interest, some might be tempted regardless. The extra legwork required is therefore useful information to know (it might have just about put me off).

Martico

masonic said:

MSE_Ben_T said:

Thanks for posting. For more info please see: https://www.moneysavingexpert.com/news/2022/09/barclays-savings-blue-rewards/

Nice article, Ben. I think it would be of value to summarise the hoops required to qualify for this savings account as outlined by Martico above in your final 'cons' bullet point. A switching bonus is always nice, but as this account is worth up to £10 per month extra interest, some might be tempted regardless. The extra legwork required is therefore useful information to know (it might have just about put me off).

Thanks - there's a chance I got the order wrong in my post, so best double check. I think I'd have been better saying that to qualify for the £5 to be returned, you need to cycle in £800pm and have two DDs. I don't think my first post was entirely accurate. But the point stands that for the best result, have those two things set up.

techno12

Nice surprise from Barclays, and was super easy to set up via the app.

I'd kept the Blue Rewards, hoping they'd introduce something after they changed it to break even.

Transferred £5k from Marcus 1.8% to this.

jolester

How often is the interest paid?  is it monthly or annually? 

ColdIron

According to the Barclays web site

• Interest is calculated daily using the statement balance and is paid monthly on the first working day of the month

https://www.barclays.co.uk/savings/instant-access/rainy-day-saver/