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.