Barclays vs Marcus High-Yield Savings (October 2026)
Written & reviewed by Hans Goldstein, EA, independent licensed insurance producer · CA license 4273294 · NPN 20602398Admitted to practice before the IRS
Rates checked on each bank's site on October 13, 2026 · Updated
Marcus pays more than Barclays Online Savings: 3.50% APY vs 3.20% (Marcus as of October 13, 2026; Barclays accurate as of October 7, 2026). Barclays Tiered Savings matches Marcus at 3.50% and pays 3.65% on $250,000 to $1,000,000. On $50,000 kept for a year at today's rates that is about $150 more interest at Marcus. Both rates are variable. Barclays: Tiered Savings: $200 bonus for new customers who deposit $25,000 within 30 days and keep it 120 days (offer ends 10/31/2026). Marcus: Same-day transfers of $100,000 or less to and from other banks. Both are FDIC-insured to $250,000 per depositor, per ownership category.
Savings account vs MYGA, after tax
What $100,000 earns in 5 years: savings account vs MYGA, after tax
Rates used: Savings account 3.50%, Marcus Online Savings (marcus.com, rate dated October 13, 2026); savings rates can change any day; change it to the rate you are offered. MYGA 5.95%, the best A-rated rate we track as of October 13, 2026: Delaware Life Pinnacle Plus 5-year (AM Best A-, negative outlook, 7/31/2026), $100,000 and up, effective October 6, 2026 (Delaware Life rate sheet).
| Savings account, interest taxed every year | $114,416 |
|---|---|
| MYGA, tax-deferred, before tax | $133,507 |
| MYGA after paying tax on all the interest at withdrawal | $126,136 |
| Tax deferral alone adds about | $674 |
| MYGA ahead of the savings account, after tax | $11,720 |
Assumes 22% federal and 0% state income tax, no withdrawals, rates held for the whole term. MYGA interest is taxed as ordinary income when you withdraw it, not as capital gains. Gains taken before age 59 1/2 can owe a 10% IRS penalty, and cashing out early can cost a surrender charge. In an IRA both grow tax-deferred, so the edge there is the rate alone. Bank and credit union deposits are FDIC or NCUA insured up to the limits; a MYGA is backed by the issuing insurer's claims-paying ability and your state's guaranty association up to its limits, not the FDIC. General education, not tax, legal or financial advice.
Side by side
| Barclays Online Savings | Marcus Online Savings | |
|---|---|---|
| APY | 3.20% APY (Online Savings); Tiered Savings 3.50%, or 3.65% on $250,000-$1,000,000 | 3.50% APY |
| Rate as of | Oct 7, 2026 | Oct 13, 2026 |
| Minimum to open | $0 | $0 |
| Fees | No monthly maintenance fees | No fees |
| Checking | No checking account listed | No checking account listed |
| ATM access | No ATM card listed | No ATM card listed for savings |
| Stand-out feature | Tiered Savings: $200 bonus for new customers who deposit $25,000 within 30 days and keep it 120 days (offer ends 10/31/2026) | Same-day transfers of $100,000 or less to and from other banks |
| FDIC insurance | Barclays Bank Delaware, FDIC cert 57203 | Goldman Sachs Bank USA, FDIC cert 33124 |
$50,000 for one year at today's rates
| Barclays | Marcus | |
|---|---|---|
| APY used | 3.20% | 3.50% |
| Interest in year one (if the rate held) | $1,600 | $1,750 |
| After 24% federal tax | $1,216 | $1,330 |
Both rates float. On September 16, 2026 the Federal Reserve raised its federal funds target range by 0.25 point to 3.75% to 4.00% (effective September 17), after 1.75 points of cuts between September 2024 and December 2025. A higher Fed target does not force either bank to raise its savings rate; each sets its own.
Quick answers (October 2026)
Does Barclays or Marcus pay more on savings?
It depends on the Barclays account. Marcus Online Savings paid 3.50% APY on October 13, 2026. Barclays paid 3.20% on Online Savings and 3.50% on Tiered Savings, accurate as of October 7, 2026.
When does Barclays beat Marcus?
Balances of $250,000 to $1,000,000 in Barclays Tiered Savings earned 3.65% APY as of October 7, 2026, above the Marcus 3.50%.
What do Barclays CDs pay?
Barclays Online CDs showed up to 4.75% APY on 24-month and 60-month terms, with no minimum, accurate as of October 7, 2026.
Are there fees or minimums?
Neither Barclays Online Savings nor Marcus Online Savings charges a monthly fee or requires a minimum to open.
Related: Barclays savings review · Barclays CD rates · CIT Bank vs Marcus · Marcus vs Ally savings · Today's MYGA rates
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When Barclays is the better pick
- Tiered Savings pays 3.50% at any balance and 3.65% from $250,000.
- No minimum and no monthly fees.
- $200 new-money bonus on Tiered Savings through 10/31/2026 (terms apply).
Watch: Savings and CDs only; no checking or ATM card listed. Barclays' posted rates were dated 10/07/2026 when checked on 10/13/2026. Barclays Online CDs paid up to 4.75% APY on 24 and 60 months, with no minimum (accurate as of 10/07/2026).
When Marcus is the better pick
- No fees and no minimum deposit.
- Same-day transfers of $100,000 or less to and from other banks, per Marcus.
- Backed by Goldman Sachs Bank USA.
Watch: No checking account or ATM card listed on Marcus's savings pages. The rate is variable; Marcus says maximum balance limits apply.
Neither is the top rate
Online savings rates cluster. If rate is the only thing that matters, these paid more the same week:
| Other savings rates the same week | APY | As of |
|---|---|---|
| Live Oak Bank Personal Savings | 4.00% | Sept 8, 2026 (bank's date) |
| Sallie Mae High-Yield Savings | 3.85% | Sept 24, 2026 |
| Marcus Online Savings | 3.50% | Oct 13, 2026 |
| Synchrony High Yield Savings | 3.30% | Sept 24, 2026 |
| FDIC national average, savings | 0.37% | Sept 21, 2026 |
Marcus Online Savings vs. a 5-year MYGA
Savings is the right home for emergency money. For money you will not touch for three to five years, a multi-year guaranteed annuity fixes a higher rate and defers the tax.
| $250,000 for 5 years | Marcus Online Savings (if 3.50% held) | 5-yr MYGA at 5.50% |
|---|---|---|
| Rate | 3.50% APY, variable | 5.50%, fixed for the term |
| Tax on interest | Every year (1099-INT) | Deferred until withdrawn |
| Value after 5 years, after 24% federal tax | ~$283,100 | ~$308,300 (tax paid at the end) |
| Protection | FDIC, $250,000 per depositor, per ownership category | Insurer claims-paying ability + state guaranty association (limits vary by state) |
| Getting money out | Any time | Surrender charge above the free-withdrawal amount; IRS 10% penalty before 59½ |
About $23,200 more after tax on the MYGA if the savings rate held all five years (24% federal bracket, state tax ignored). Savings rates are not fixed, so the real gap depends on where they go. Fixed annuity benchmark: carriers rated A or better topped out around 5.50% to 6.05% on 5-year compound-interest MYGAs, per public carrier rate sheets, October 14, 2026. Rates vary by state, premium and carrier.
Annuity vs CD · Current MYGA rates · HYSA or MYGA for 3-year money
Barclays vs Marcus: FAQ
Which pays more, Barclays or Marcus?
Marcus: 3.50% APY vs 3.20% at Barclays (Marcus as of October 13, 2026; Barclays accurate as of October 7, 2026). Barclays Tiered Savings also paid 3.50%, and 3.65% on $250,000 to $1,000,000. Both rates are variable.
What is the Barclays Online Savings rate?
3.20% APY (Online Savings); Tiered Savings 3.50%, or 3.65% on $250,000 to $1,000,000, accurate as of October 7, 2026.
What is the Marcus Online Savings rate?
3.50% APY, as of October 13, 2026.
Are Barclays and Marcus FDIC insured?
Yes. Barclays Bank Delaware, FDIC cert 57203; Goldman Sachs Bank USA, FDIC cert 33124. Coverage is $250,000 per depositor, per insured bank, per ownership category.
Do I get an ATM card?
Barclays: No ATM card listed. Marcus: No ATM card listed for savings.
Savings or a MYGA for money I won't need for years?
For 3-to-5-year money, a MYGA usually pays more and fixes the rate: A-rated-or-better insurers paid roughly 5.50%-6.05% on 5-year MYGAs on October 14, 2026, with the interest tax-deferred. Keep emergency money in FDIC-insured savings.
My take
Marcus pays more than Barclays Online Savings (3.50% vs 3.20%, rates as of October 2026); Barclays Tiered Savings ties it at 3.50%. Pick on the features you will use, keep emergency cash in savings, and get a MYGA quote for money you will not touch for three to five years.
Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398) and is not affiliated with Barclays or Marcus by Goldman Sachs. Rates are copied from the sources named, as of the date shown; savings rates are variable and can change the day after you read this. MYGA figures are illustrations, not quotes.
Run the MYGA vs savings math for your situation
Talk to Hans Goldstein, a licensed independent insurance producer.
Marcus pays 3.50% APY, variable. A-rated 5-year MYGAs were paying about 5.50%-6.05% on October 14, 2026, fixed for the term and tax-deferred.
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Related reading
This page is general information for educational purposes; it is not a personalized recommendation, solicitation, or offer of any specific bank product. APYs change frequently (typically monthly), and the rates shown here are approximations as of the date above. Always confirm current rates and fees directly on the bank's website before opening an account. Hans Goldstein is an independent licensed insurance producer (NPN 20602398); he does not receive compensation from any bank discussed on this page. FDIC insurance limits apply ($250,000 per depositor, per ownership category, per insured bank). Annuity products mentioned on this page are insurance contracts with surrender charges and are regulated by state insurance commissioners; they are not FDIC-insured. Always read the actual contract and consult a licensed advisor before purchasing any annuity product.