Barclays

 

History

Barclays is one of the oldest banks in the UK, boasting roots that date as far back as 1690. Before many banks and building societies were getting their start, Barclays was already developing the spread eagle sign that continues to be used as the company’s logo today. Throughout the next two centuries, this bank continued to grow and thrive through a series of acquisitions. The company continued to lead the pack throughout the 20th century, introducing new services and products to their customers to make the banking experience more convenient.

Current Information

Today, Barclays is a global provider of financial services, offering a variety of options in both the commercial and retail sector. The company features a wide range of deposit accounts, investments, loans, credit cards and financial planning services to reach a large and diverse customer base. The company currently offers two different cash ISA products, as well as investment options with serious tax savings.

Cash ISAs Available

Barclays has two different cash ISA products available: the Barclays Cash ISA and the Golden ISA. The Golden ISA in particular has been receiving plenty of attention from the press of late, but we will take a closer look at both accounts here.

  • Barclays Cash ISA – This basic ISA is the perfect choice for a customer who does not have much to invest initially, but wants to receive the tax advantages an ISA provides. The account can be opened with as little as £1, and it earns a competitive, variable rate of interest. Interest is calculated daily and paid out annually. Withdrawals can be made at any time without penalty. Transfers from and to other ISA providers are allowed with the Barclays Cash ISA.
  • Golden ISA – The Golden ISA offers a variable interest rate, with a bonus rate attached for the first 12 months. The account can be opened with just £1, and interest is earned on all positive balances. This account can also be used to offset a mortgage account for customers with a Woolwich Offset Mortgage. Withdrawals can be made from this account at any time without penalty, and transfers are also allowed into and out of the account.

Stocks and Shares ISAs to Choose From

In addition to the cash ISAs listed above, Barclays also provides a Fixed Rate Investment ISA that includes two different options:

  • Income Option – This investment allows you to earn a fixed return of 4% on your investment each year, as long as you keep your initial money invested for the full five-year term.
  • Growth Option – By leaving your money in your investment for the full term, you can take the entire 22.25% gross income at the end of the five years.

With both of these products, the minimum investment amount is £3,600. If you sell your investment prior to the maturity date, you are likely to receive less money than you originally invested.

Barclays offers much to its customers in terms of size, stability and product variety. Whether you are looking for a simple savings product or a long-term investment, Barclays has the ISA you need.

Important Risk Information:

This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.

Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.

www.isa.co.uk is a trading style of Fair Investment Company Limited, which is authorised and regulated by the Financial Services Authority (FSA). Fair Investment Company Limited is entered on the FSA register (www.fsa.gov.uk) under reference number 192852. Registered in England no. 3980180. Registered address: Kings House, 14 Orchard Street, Bristol, BS1 5EH.

The information and content of this website is subject to the UK regulatory regime and is therefore intended for UK consumers.


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