SAVINGS
Rainy Day Saver
Build an emergency savings fund
Earn our highest interest rate with this instant-access savings account.
Interest rates
For example, if you had a balance of £5,100 in a Rainy Day Saver, you’d earn the higher interest rate on the first £5,000 and the lower interest rate on the additional £100.
Is the Rainy Day Saver right for you?
Exclusive to Blue Rewards and Premier
To open a Rainy Day Saver account, you need to be a member of Barclays Blue Rewards or a Premier Banking customer. Terms, conditions and eligibility criteria apply.
Build an emergency savings fund
Put some money aside in this account and feel prepared for any unexpected expenses.
Ideal for balances up to £5,000
You’ll earn the higher interest rate on the first £5,000 of your balance, and the lower interest rate on amounts over £5,000.
Withdraw any time
You’ll have instant access to your whole balance and can take money out of this account any time.
Rainy Day Saver FAQs
To open this account, you need to be a Barclays Blue Rewards member or a Premier Banking customer, 18 years old or over and a UK resident.
You can open and manage your account in the Barclays app or Online Banking(2). Alternatively, you can do this in a branch or over the phone. See how to apply.
Find out how to join Barclays Blue Rewards.
Find out how to join Premier Banking.
No, you can only have one Rainy Day Saver account, in sole or joint names, at any time.
You’ll earn the most interest with this account by using it to save up to £5,000.
If you want to save more than £5,000, you could put £5,000 in this account and any additional money in a different account that will pay a higher interest rate. You could explore our Blue Rewards Saver or our range of cash ISAs and fixed-rate bonds.
If you’re saving for the long term, you could explore your investment options with us. Investments may offer higher returns than cash savings in the long term.
For savings accounts, the interest rate tells you how much interest we’ll pay you for saving with us – it’s shown as a percentage of your account balance. The higher the interest rate the more interest you’ll earn by leaving money in the account.
Yes, you can set up a savings goal in our app and track your progress.
Your Personal Savings Allowance (PSA) is the total amount of interest HMRC lets you earn each tax year across all your bank accounts (except ISAs) without paying tax. The tax year runs from 6 April to 5 April.
Your PSA depends on how much income tax you pay each year – it’s £1,000 tax-free interest for basic rate taxpayers and £500 tax-free interest for higher rate taxpayers. Additional rate taxpayers don’t have a PSA.
If you earn more in interest than your PSA, you’ll need to make sure you pay the tax that’s due to HMRC. Go to HMRC’s site to find out how to do this.
Summary box
Account name
Rainy Day Saver
Rates are effective from 1 September 2023 to 12 February 2025
What is the interest rate?
Balance |
Gross rate p.a. % |
AER % |
|---|---|---|
|
£1 – £5,000 |
5.00 |
5.12 |
|
£5,000+ |
1.15 |
1.16 |
Rates are effective from 13 February 2025
Balance |
Gross rate p.a. % |
AER % |
|---|---|---|
|
£1 – £5,000 |
4.76 |
4.87 |
|
£5,000+ |
1.15 |
1.16 |
Interest is calculated daily using your statement balance and paid monthly on the first working day of the month.
Interest rates are banded – this means you’ll earn the higher interest rate on the first £5,000 of your balance, and the lower interest rate on amounts over £5,000.
For example, if you had a balance of £5,100 in a Rainy Day Saver, you’d earn the higher interest rate on the first £5,000 and the lower interest rate on the additional £100.
Can Barclays change the interest rate?
Yes, rates are variable.
We can increase or decrease the interest rates for any of the reasons set out in your Customer Agreement (which includes the ‘Barclays and you: Terms and conditions for Personal customers’ and your additional terms).
For more details on when we might change the interest rates and the notice we’ll give you, please read your Customer Agreement, including the additional terms. You can get this from your usual contact or read it online at barclays.co.uk/rca
What would the estimated balance be after 12 months based on a £1,000 deposit?
Rates are effective from 1 September 2023 to 12 February 2025
Deposit amount |
Estimated value after 12 months |
|---|---|
|
£1,000 |
£1,051.16 |
|
£5,000 |
£5,251.34 |
Rates are effective from 13 February 2025
Deposit amount |
Estimated value after 12 months |
|---|---|
|
£1,000 |
£1,048.66 |
|
£5,000 |
£5,239.26 |
The estimated value is based on no change to the interest rate over 12 months and no withdrawals being made.
How do I open and manage my account?
Open and manage your account – in our app, in Online Banking, in a branch or over the phone
Eligibility criteria – you must be a Barclays Blue Rewards member or Premier Banking customer, 18 years old or over and a UK resident
Minimum balance – £1
Maximum balance – £10 million
See how to apply.
Can I withdraw money?
Yes, you'll have instant access to your money so you can make withdrawals.
Additional information
- You can offset your Rainy Day Saver account in a Barclays offset mortgage. If you do, you won’t earn any interest on your Rainy Day Saver account
- You can only have one Rainy Day Saver account, in sole or joint names, at any given time. For joint accounts, the person applying for the account must be a Barclays Blue Rewards member or Premier Banking customer
- If you stop being a Barclays Blue Rewards member or a Premier Banking customer for any reason, we’ll convert your Rainy Day Saver to an instant-access savings account available at the time. We’ll be in touch before we do this with your new account’s terms
- To join and stay eligible for Barclays Blue Rewards, you’ll need to pay at least £800 into your chosen current account every month and pay the £5 monthly fee from that account. If you’d like to know more about Barclays Blue Rewards, please visit barclays.co.uk/bluerewards
- Join Premier Banking by opening a Premier Current Account. You also need a gross annual income of at least £75,000 paid into the account, or a total balance of at least £100,000 in savings with us, in eligible investments – or a mix of both. Eligible investments are Investment ISAs, SIPPs or General Investment Accounts held through Smart Investor or Barclays Investment Solutions Limited.
How to apply
You need to be a Barclays Blue Rewards member or a Premier Banking customer to open a Rainy Day Saver account.
If you already bank with us, you can open an account in Online Banking or the Barclays app. If you don’t use Online Banking yet, you can register here.
If you don’t bank with us
You need to be a Barclays Blue Rewards member or a Premier Banking customer to open a Rainy Day Saver account.
You can book an appointment to open an account in one of our branches. You’ll need proof of your identity and address.
Saving and investing
Both saving and investing can help you plan for the future. Our guide can help you find what suits you.
Other ways to save and invest
Important information
‘AER’ (Annual Equivalent Rate) shows what the interest rate would be if interest was paid and compounded once each year. ‘Tax-free’ means interest is exempt from UK income tax provided all ISA conditions are met. The level and basis of tax can change, and the value of tax relief depends on your personal circumstances.(Return to reference)
The Barclays app and Online Banking are only available if you’re registered to use these services. You need to be 18 or over to access this product or service using the app. Terms and conditions apply.(Return to reference)