[one_half]<\/span><\/p>\nKey Points:<\/b><\/p>\n
\u2714\ufe0f Up to 0.55% % AER interest per year<\/p>\n
\u2714\ufe0f Required to deposit at least \u00a3100,000 to get the top-tier rate<\/p>\n
\u2714\ufe0f Deposits below \u00a330,000 get just 0.40% AER per year<\/p>\n
\u2714\ufe0f Get started from just \u00a31<\/p>\n
\u2714\ufe0f Required to have an account with Barclays<\/p>\n
\u2714\ufe0f No fees for transferring existing ISAs in<\/p>\n
<\/div><\/div><\/div><\/div><\/span><\/p>\n2.
Help to Buy ISA - up to 2.58% AER per year<\/strong><\/div>\n
If you\u2019re in the process of saving for your first home purchase, it is well worth considering a Help to Buy ISA. For those unaware, not only will you benefit from tax-free interest, but the government will top up 25% on everything you save up to \u00a312,000. This means for that every \u00a3100 you save into your Help to Buy ISA, the government will add \u00a325 \u2013 and that\u2019s excluding the interest that you will earn from Barclays.<\/p>\n
With that being said, the Barclays Help to Buy ISA pays a somewhat competitive 2.58% AER per year. Take note, this rate is variable, so it could change depending on market conditions. Nevertheless, it is also important to note that the Barclays Help to Buy ISA comes with account limitations. You will only be able to deposit a maximum of \u00a31,200 during the first month of opening the account.<\/p>\n
After that, you can only deposit a maximum of \u00a3200 per month. On the other hand, the Barclays Help to Buy ISA allows you to make an unlimited amount of withdrawals without you being penalized. Finally, the ISA is protected by the FSCS, and you can get started by opening an account online.<\/p>\n
\n
[one_half]<\/span><\/p>\nKey Points:<\/b><\/p>\n
\u2714\ufe0f Pays 2.58% AER per year<\/p>\n
\u2714\ufe0f The interest rate is variable<\/p>\n
\u2714\ufe0f UK government will add 25% to your savings (up to \u00a312,000)<\/p>\n
\u2714\ufe0f Access your money at any time<\/p>\n
\u2714\ufe0f Protected by the FSCS<\/p>\n
\u2714\ufe0f Open an account online<\/p>\n
<\/div><\/div><\/div><\/div><\/span><\/p>\n3.
1-Year Flexible Cash ISA - 0.75% AER per year<\/strong><\/div>\n
If you think there is a chance that you might<\/em> need to access your ISA funds, but you don\u2019t necessarily need an unlimited number of withdrawals, then we would suggest checking out the Barclays 1-Year Flexible Cash ISA. Although the account is somewhat similar to the Instant Cash ISA, this particular account only permits three withdrawals.<\/p>\nWhile you will not be penalized for making your three free withdrawals, it is important to note that you will only be able to withdraw a maximum of 10% of your overall balance. As such, this could limit you in the event that you need access to a much larger proportion of your cash, so do bear this in mind. In terms of the fundamentals, the 1-Year Flexible Cash ISA pays 0.75% AER per year.<\/p>\n
The interest rate is fixed for the full 12 months, so you don\u2019t need to worry about market conditions. You will be able to open an account online, with the minimum deposit set at just \u00a31. Furthermore, you will not be charged anything if you want to transfer-in your existing ISA funds.<\/p>\n
\n
[one_half]<\/span><\/p>\nKey Points:<\/b><\/p>\n
\u2714\ufe0f 0.75 AER interest per year<\/p>\n
\u2714\ufe0f Interest rate is fixed, so no need to worry about market forces<\/p>\n
\u2714\ufe0f Maximum of three withdrawals<\/p>\n
\u2714\ufe0f You can only withdraw 10% of your total balance at any given time<\/p>\n
\u2714\ufe0f FSCS protected<\/p>\n
\u2714\ufe0f Get started from just \u00a31<\/p>\n
<\/div><\/div><\/div><\/div><\/span><\/p>\n4.
Premier 1-Year Flexible Cash ISA - 0.85% AER per year<\/strong><\/div>\n
The Premier 1-Year Flexible Cash ISA being offered by Barclays Bank is exactly the same as 1-Year Flexible Cash ISA we discussed above \u2013 apart from the interest rate. While the latter pays 0.75% AER per year, the Premier version pays a higher rate of 0.85%. However, this comes with one key condition \u2013 you will need to be a Premier customer at Barclays Bank.<\/p>\n
For those unaware, Premier current accounts at Barclays do not come with any monthly fees, and they do come with a full range of other benefits such as fee-free international payments and a dedicated customer support team. However, in order to be eligible, you need to have an annual income of \u00a375,000 or more that is subsequently deposited into your Barclays account, or have saved\/invested more than \u00a3100,000.<\/p>\n
\n
[one_half]<\/span><\/p>\nKey Points:<\/b><\/p>\n
\u2714\ufe0f Pays 0.85% AER interest per year<\/p>\n
\u2714\ufe0f Only available to Premier account holders at the bank<\/p>\n
\u2714\ufe0f Eligibility requires \u00a375,000 annual income or an investment of \u00a3100,000+<\/p>\n
\u2714\ufe0f Make up to three withdrawals<\/p>\n
\u2714\ufe0f Only withdraw up to 10% of your ISA balance<\/p>\n
\u2714\ufe0f No fees for transferring funds in<\/p>\n
<\/div><\/div><\/div><\/div><\/span><\/p>\n5.
Stocks and Shares ISA - Interest % depends on investments<\/strong><\/div>\n
The final ISA being offered by Barclays that is worth considering is that of its Stocks and Shares ISA. This particular account type is perfect if you have an interest in the financial markets, and thus \u2013 you\u2019re thinking about building a stocks and shares portfolio. In doing so, you can benefit from a 2019\/20 annual ISA allowance of \u00a320,000 without paying any capital gains on your profits.<\/p>\n
On the flip side, the Stocks and Shares ISA at Barclays does come with its risks. While the other ISAs we have mentioned so far are virtually risk-free, insofar that you are guaranteed to grow your money, Stocks and Shares ISAs<\/a> are dependent on your chosen investments.<\/p>\nFor example, if your shares portfolio is not performing well in the markets, then you stand the chance of losing money. With that being said, your tax savings would be irrelevant in this case, as you would have no capital gains! If you do opt for the Barclays Stocks and Shares ISA, you can build your portfolio via the platform\u2019s Smart Investor dashboard.<\/p>\n
\n
[one_half]<\/span><\/p>\nKey Points:<\/b><\/p>\n
\u2714\ufe0f Higher risk \u2013 investments can go and down<\/p>\n
\u2714\ufe0fNo guarantee that your money will grow<\/p>\n
\u2714\ufe0f Best if you are able to hold onto your shares for at least 5 years<\/p>\n
\u2714\ufe0f Choose your own investments via the Barclays Smart Investor dashboard<\/p>\n
<\/div><\/div><\/div><\/div><\/span><\/p>\nIs a Barclays ISA safe?<\/h2>\n As is the case with the vast majority of ISAs in the UK, your Barclays ISA will be protected under the Financial Services Compensation Scheme (FSCS). This means that your savings are protected up to the first \u00a385,000. Take note, this is per institution as opposed to per account, so you should avoid investing more than \u00a385,000 if you want to remain 100% risk-free.<\/p>\n
On the other hand, you will not be engaging in a 100% risk-free investment if you opt for the Barclays Stocks and Shares ISA. The reason for this is that your gains are determined exclusively by your chosen investments. For example, if you hold stocks that have gone down in value in comparison to the price you originally paid, then your overall investment will be worth less than what you started with.<\/p>\n
How much can I invest into my Barclays ISA per year?<\/h2>\n As per the 2019\/20 limits imposed by the UK government, you will be able to invest up to \u00a320,000 for the year. You can invest the \u00a320,000 limit in one fell swoop, or in instalments throughout the tax year. As such, if you are opening a Barclays ISA mid-year, then you should attempt to inject the maximum annual allowance before the new tax year starts in April 2020.<\/p>\n
It is also important to note that you can spread your ISA investments out across multiple accounts. For example, if you want to place \u00a315,000 into the Barclays Instant Access ISA account for a risk-free return, and place the remaining \u00a35,000 into the Barclays Stocks and Shares ISA \u2013 this is perfectly fine.<\/p>\n
\u00a0<\/p>\n
Just remember, certain ISAs at Barclays Bank do come with limitations. For example, if you opt for the Help to Buy ISA, you will only be able to deposit a maximum of \u00a31,200 when you first open your account (anytime during the first calendar month). Moreover, the same ISA will only permit \u00a3200 per month thereon, so make sure that you take this into consideration.<\/p>\n
FAQs<\/h2>\n <\/time><\/time>
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