UFB Direct Slashes Rate on Money Market Account, Again

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By , Staff Writer
Posted on Tue Nov 20, 2012, Last Updated on Tue Nov 20, 2012

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Not long after its last rate cut, UFB Direct drops the interest rate on its money market account (MMA). Effective today, the account offers a 0.80% APY, down from 0.95% APY.

The last rate cut, from 1.05% APY to 0.95% APY, occurred at the end of October.

The rate cut means that UFB Direct’s MMA now offers a lower return compared to savings accounts and MMAs offered by online banks such as Ally Bank, CIT Bank and Sallie Mae Bank.

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