Barclays US Consumer Bank has announced the launch of a new Barclays Tiered Savings product aiming to help consumers advance their personal financial goals. According to the announcement, this new product features tiered pricing and the ability to earn higher rates with higher balances, while savings continue to grow.

Officials from the bank commented that it is introducing the Barclays Tiered Savings product to make it simpler for people to earn higher rates on tiered deposit amounts and gives them the opportunity to achieve their personal financial targets. The bank's goal is to offer pricing flexibility that rewards higher balance customers who want the convenience of saving online with competitive interest rates. The aim is for Barclays to offer an intuitive online platform that allows consumers to easily open accounts, deposit funds or checks remotely, view account balances, and link to other financial institutions in the US.

The announcement continues to highlight that Barclays deposits program has been a significant contributor to the US Consumer Bank for over a decade. The Tiered Savings product is expected to elevate its deposits business by unlocking additional value for its customers and increasing the bank's deposits portfolio. About Barclays US Consumer Bank Barclays US Consumer Bank is a co-branded credit card issuer and financial services partner that seeks to create a highly customised program to drive customer loyalty and engagement for some of the country's successful travel, entertainment, retail, and affinity institutions.

The bank offers co-branded, small business and private label credit cards, instalment loans, online savings accounts, and CDs. .