By MyBankTracker  Updated on Tue Nov 20, 2012

UFB Direct Slashes Rate on Money Market Account, Again

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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