UFB Direct Boosts Money Market Rate to 1.30% APY

Simon Zhen

By
Updated on Tue Aug 7, 2012

UFB Direct, an online banking division of BofI Federal Bank, raised the interest rate on its money market account from 1.25% APY to 1.30% APY. Now, UFB Direct’s money market account holds the top rate among online banks.

However, the account does require a $5,000 minimum balance to avoid a $10 monthly fee. (The minimum opening deposit is also $5,000.)

The account also comes with free check-writing, remote deposit by scanner or mobile app and bill pay.

TIAA Direct also had a competitive money market a rate at 1.25% APY but the online bank has stopped accepting new customers, temporarily.

Currently, EverBank holds the second most attractive rate at 1.01% APY (a promotional rate for the first year).

In the Article

 

Post a Comment