As a means to earn more money and avoid paying monthly fees many individuals opt to open a money market account, serving a similar role as a savings account while providing check-writing privileges with some restrictions. Unlike traditional savings accounts, a money market savings account offers higher interest rates based on the money markets, enabling an individual to earn more off their balance.
Of course many banking institutions offer money market savings accounts but the manner in which they determine the interest earned can vary. At UFB Direct, a division of BofI Federal Bank, an FDIC insured financial institution established in 2000, that interest rate is compounded daily; meaning you’ll get more for your money.
With a minimum balance of $5,000 you can take advantage of a high money market interest rate of 1.15% APY along with a number of other perks that include the ability to deposit checks instantly from the comfort of your home or office with MyDeposit; free FinanceWorks software that enables you to track all of your financial accounts, even those at other institutions, all from your UFB Direct Online Banking; access to free online banking with Bill Pay (limited), free mobile banking, email and text messaging alerts; the opportunity to complete online transfers between your UFB Direct accounts; and many more.
UFB Direct has designed their money market savings account with one thing in mind, offer their customers the most competitive money market interest rate available and they have delivered, providing a rate that consistently beat the national average. Open a money market account with UFB Direct today and let your money work for you.