The features of the Barclays instant access saving account mentioned above can be found in the instant access accounts being offered by a wide range of UK banks and building societies. Because instant access accounts are the most common form of savings product in the UK, there is a huge amount of competition for your custom.
Like many other instant access savings accounts, Barclays features a variable interest rate which will move up and down due to a range of wider economic factors. The instant access savings account offered by Barclays also features a tiered interest rate system, whereby you earn more interest the larger the amount you save.
Another common feature of instant access savings accounts that the Barclays account shares is an introductory bonus, usually for a period of 12 months. Many banks and building societies use this tactic to pull customers in, so it is useful to be aware that the interest rate will not always be so high.
Make sure you take a minute or two to compare the Barclays instant access savings account with other similar deals that are on the market.