Barclays vs. My Banking Direct
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | BarclaysTiered Savings Jan 7, 2026 | My Banking DirectHigh Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 3.85% - 4.00% | 4.02% |
Est. Earnings | $5,000+$193 $10,000+$385 $25,000+$963 | $5,000+$201 $10,000+$402 $25,000+$1,005 |
Min Deposit | $0 | $500 |
Snapshot view. Rates subject to change. | ||
Terms | The 4.00% APY is only available for balances over $250,000. For lower balances, the APY is 3.85%. | - |
| Features | FDIC InsuredHigh MinimumGreat iOS AppGreat Android App | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
Comparison Analysis
Comparing Barclays vs. My Banking Direct
As of Barclays offers an APY of 4.00% for its Tiered Savings account, with a minimum balance of $250,000, compared to My Banking Direct's 4.02% APY for its High Yield Savings Account, with a minimum balance of $1.
My Banking Direct pays $17 more than Barclays on a $10,000 balance after one year. Barclays pays $385 (with an effective APY of 3.85%), while My Banking Direct pays $402 - an APY advantage for My Banking Direct.
In addition, Barclays also offers 3.60% APY for the Online Savings account, with a minimum balance of Enough to earn $0.01 in interest.
Why Barclays?
- ✓Higher rated Android app (4.7 vs 4.3)
- ✓Offers 2 different high-yield savings options
Why My Banking Direct?
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
My Banking DirectMy Banking Direct's High Yield Savings Account earns more on smaller deposits (approx. $402 vs $385/yr).
Better Returns at $25,000
My Banking DirectMy Banking Direct's High Yield Savings Account pulls ahead with larger amounts (approx. $1005 vs $963/yr).
Best for Simplicity
My Banking DirectMy Banking Direct's High Yield Savings Account offers 4.02% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
BarclaysBarclays offers an iOS app rated 4.9 (vs. 4.7) and Android app rated 4.7 (vs. 4.3)
Shared Benefits
Over a 1-year period, My Banking Direct's High Yield Savings Account pays $17 more interest on a $10,000 balance than Barclays's Tiered Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
My Banking Direct offers a High Yield Savings Account with a competitive APY of 4.02%, making it the top choice for savers looking for simplicity and higher returns, especially on deposits starting from $500. In contrast, Barclays provides a Tiered Savings account with a maximum APY of 4.00% for balances over $250,000, while lower balances earn 3.85%. Both banks are online-only and do not require direct deposits, but Barclays offers a second option with its Online Savings account at 3.60%. Overall, My Banking Direct stands out for those seeking better returns without additional requirements.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Barclays vs. My Banking Direct Savings Calculator
You earn $17 more with My Banking Direct than Barclays on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Barclays
Tiered Savings
Higher APY requires $250,000
Savings Breakdown
- Interest Earned+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
My Banking Direct
High Yield Savings Account
Savings Breakdown
- Interest Earned+$402.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,402.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Barclays | My Banking Direct |
|---|---|---|
| APY | 4.00% Range: 3.85% - 4.00% Verified: 1/7/2026 ↘︎ 0.10%90d Change | 4.02% Verified: 1/7/2026 ↘︎ 0.18%90d Change |
| Product Name | Tiered Savings | High Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $250,000 | $1 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.9 Android4.7 | iOS4.7 Android4.3 |
| Zelle® Support | Not Supported | Available Uses Flagstar/NYCB parent infrastructure. |
| BBB Rating | A+ | F |
| Important Notes | The 4.00% APY is only available for balances over $250,000. For lower balances, the APY is 3.85%. | - |
| Next Steps | Visit SiteVerify at Barclays Non-sponsored link to official site | Visit SiteVerify at My Banking Direct Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Barclays | My Banking Direct | |
|---|---|---|---|
| Online Savings | Tiered Savings | High Yield Savings Account | |
Current APY | 3.60% | 4.00% | 4.02% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -2.7 | -4.2 | -4.0 |
Days Since Change | 42 | 49 | 53 |
11-Month High | 4.00% | 4.50% | 4.45% |
11-Month Low | 3.60% | 4.00% | 4.02% |
Adjustments / Mo | 0.51 | 0.60 | 0.43 |
Volatility Score | 0.027 | 0.037 | 0.035 |
How to read these metrics(Click to expand)
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