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Blue Rewards Saver

For Barclays Blue Rewards members only

Saving for a rainy day, a holiday or your first home? If you’re a Barclays Blue Rewards member, you could earn more when you let your savings grow.

If you don’t yet bank with us or prefer to talk, give us a call on 0345 744 54451 or visit your nearest branch.

You’ll be able to save even more towards your goal by earning higher interest if you don’t regularly dip into your savings.

  • Only available to Barclays Blue Rewards members
  • 0.50% gross/AER2 in the months you don’t make any withdrawals
  • 0.10% gross/AER2 in the months you make one or more withdrawals. If you think you’ll make more regular monthly withdrawals, this product may not be right for you
  • You’ll have instant access to your savings if you need it through online, mobile and telephone banking or in branch3
  • Open from £1 - if you want to save regularly you can set up a standing order

Summary box

Account name
Blue Rewards Saver

What is the interest rate?
Effective from 26 September 2019

Balance

Gross per year %

AER % 

£1+

Higher interest rate is paid when no withdrawals have been made out of the account since the account was opened, in the case of the first month, or since interest was last paid into the account.

0.50

0.50

£1+

Lower interest rate is paid when one or more withdrawals have been made out of the account since the account was opened, in the case of the first month, or since interest was last paid into the account.

0.10

0.10

Interest is calculated daily using your statement balance and is paid on the first working day of each month.

The interest rate you will receive for each month depends on whether you have made any withdrawals from the Blue Rewards Saver account since the account was opened, in the case of the first month, or since interest was last paid into the account.

Can Barclays change the interest rate?

Yes, rates are variable. We can increase or decrease the interest rates for the reasons set out in our ‘Barclays and you’ booklet, which is available in branch, or you can read our Terms and conditions for Personal customers. Both also explain when we may change the interest rates, and the notice we’ll give you.

What would the estimated balance be after 12 months based on a £1,000 deposit?

Deposit amount

Estimated value after a year

£1,000

If no withdrawals are made every month
£1,005.01


The amount above shows the balance on an initial deposit of £1,000 after 12 months where no withdrawals have been made from the account for the whole 12 months and with interest added to the account.

 

If a withdrawal is made every month
£880.94

 

The amount above shows the balance on an initial deposit of £1,000 after 12 months where a £10 withdrawal has been made on the first day of each calendar month for 12 months (£120 total withdrawn) and with interest added to the account.

The projection provided is for illustrative purposes only and it does not take into account individual circumstances..

How do I open and manage my account?

Account opening – to open a Blue Rewards Saver account, you must be a member of Barclays Blue Rewards. You can open an account in branch, online, mobile and by phone

Manage account – in branch, online, mobile and by phone

Eligibility criteria – you must be a Barclays Blue Rewards member, 18 years old or over, and resident in the UK

Minimum balance – £1

Maximum balance – £10 million

 

Can I withdraw money?

Yes, instant access. Where you make a withdrawal since the account was opened, in the case of the first month, or since interest was last paid into the account, interest will be payable at the lower Blue Rewards Saver rate for that particular month. If you think you will make regular monthly withdrawals, this product may not be the right savings product for you.

 

Additional information

  • You can offset your Blue Rewards Saver account against your mortgage. If you do, you will not earn any interest on your Blue Rewards Saver account
  • You can have more than one Blue Rewards Saver account at any given time held either in sole or joint names. Where a Blue Rewards Saver account is held in joint names at least one of you will be a member of Barclays Blue Rewards
  • You will not receive a monthly cash reward to your Blue Rewards Wallet for holding a Blue Rewards Saver account.
  • If we, or you, cancel Barclays Blue Rewards, or for any other reason you cease to be a member of Barclays Blue Rewards, your Blue Rewards Saver account will be converted to the Barclays instant access savings account specified in our interest rate leaflet and on our website. Before doing so we will contact you to tell you the terms that will apply to the Barclays instant access account unless you advise us otherwise.
  • To join and remain eligible for Barclays Blue Rewards, you will need to do the following: pay in at least £800 into your chosen current account every month and pay the monthly fee from your chosen current account. If you’d like to know more about Barclays Blue Rewards terms and conditions, the monthly fee and what you have to do to earn Barclays Blue Rewards, please visit barclays.co.uk/bluerewards

 

How the Blue Rewards Saver works

Terms and conditions

For additional information, download our Blue Rewards Saver terms and conditions.

How to apply

You need to be a Barclays Blue Rewards member in order to open an account. If you are, there are different ways to apply, depending on whether or not you bank with us.

 

Register for Online Banking

Get quick and convenient access to your accounts.

More ways to save

If the Blue Rewards Saver isn’t what you’re looking for, we have other options for you to consider.

Everyday Saver

Save whenever you want, for as long as you want, with instant access to your money.

If you bank with us, you could open an Everyday Saver online in minutes.

Help to Buy: ISA

Take advantage of tax-free4 savings. When you buy your first home, you'll get a 25% government bonus on amounts saved between £1,600 and £12,000.

If you bank with us, you could open a Help to Buy: ISA online in minutes.

Savings bonds

Put your money away for a fixed rate of return

If you’re serious about saving, you can lock your money in one of our bonds, and know exactly what interest it’ll earn.