UnivestDirect Increases Yield on Business Savings Account to 5.05%

UnivestDirect just increased the rate on its Primary Online Business Savings Account from 4.10% to 5.05% APY. This business savings account only requires $1 minimum to open, but a $2,000 balance is required to earn the 5.05% interest. There are no monthly fees.

This should provide some competition to ING Direct's Business Savings Account which has had a yield of 5% APY since I reported on this in June. Another plus with UnivestDirect is that they also have a business checking account.

I first reported on UnivestDirect in April on their 4% no-minimum personal checking account. They also have a competitive no-minimum personal savings account that has had a yield of 5.05% APY since May.

UnivestDirect is part of Univest National Bank and Trust Co. which is FDIC insured (FDIC Certificate # 7759).

Thanks to the reader who mentioned this rate update in the comments.

Tags: savings account