UFB Direct Raises Money Market Account to 5% ($50K+)

UFB Direct raised its Jumbo Money Market Savings account from 4.91% to 5.00% APY. The account has a $50K minimum balance requirement. UFB also raised its no-minimum high yield money market savings account from 4.40% to 4.50% APY.

UFB also has some very competitive CD rates including a 5.05% APY 3-month CD, 5.30% APY 6-month CD and a 5.45% APY 12-month CD with minimum deposits of $8K.

For more info on UFB Direct, refer to this previous post.

We're slowing seeing more and more money market accounts hit 5%. Last week, Countrywide starting offering 5% for balances over $50K in its new Savingslink account (see Countrywide Bank post). The smallest balance requirement so far is BankUnited with a $5K mininum (see BankUnited post). interState Net Bank is close behind with a $10K minimum (see interState Net Bank post).