UFB Direct serves customers nationwide who are looking for a way to get higher savings rates and lower fees on FDIC insured products by leveraging their Efficient Banking Platform ™. Skip the long lines at the branch, skip the traffic, do all of your banking by Internet, by telephone, and by mail – it saves the Bank money and those savings are passed on to you. In the end, you get one of the highest savings rates in the country, lower fees, better benefits, and you never have to go into a branch again!
Related Posts
3/16 - UFB Direct Cuts Savings Account Rate To 0.95%
3/2 - UFB Direct Cuts Top Savings Account Rate
4/24/13 - Rate Drop At UFB Direct
11/20/12 - Another UFB Direct MMA Rate Cut - Future of BofI's Rewards Checking?
10/31/12 - Another Rate Cut at UFB Direct - Issues To Consider for Rate Chasers
10/10/12 - UFB Direct Money Market Rate Droped To %1.05
9/5/12 - UFB Direct Cuts Money Market Rate - Best Option for Savers?
9/4/12 - MM Rate Slashed At UFB effective 09/04/2012
8/6/12 - Another Money Market Rate Hike at UFB Direct
6/26/12 - UFB Direct Raises Money Market Account Rate
5/30/12 - UFB Direct Launches Money Market Savings Account with a Top Rate
2/28/12 - Another Rate Cut At UFB Direct - 0.85% To 0.80%
2/23/12 - Another Rate Cut at UFB Direct - Lessons for Rate Chasers?
2/13/12 - UFB Savings Droped Yet Again From 0.95% Down To 0.90%. Switching To Mybankingdirect Or Amtrustdirect.
2/7/12 - UFB Airline Rewards Savings Droped Again From 1.05% Down To 0.95%.
2/1/12 - UFB Direct Savings Account Yield Falls From 1.10% To 1.05%
1/18/12 - Rate Cut at UFB Direct - Savings Account Strategies in Today's Environment?
1/18/12 - UFB Direct Rate Drop From 1.30 To 1.10
12/1/11 - Verifying Your Internet Bank Deposits are FDIC Insured
9/16/11 - Nation's Top Savings Account Rate at Bank of Internet's UFB Direct
8/4/11 - Bank of Internet's New Airline Miles Rewards Savings & Checking Accounts
6/22/09 - UFB Direct's New 2% US Savings Account - How Long Will This Last?
10/23/08 - UFB Direct Increases Yield on its Traveler's Savings Account to 4.00%
11/29/07 - UFB Direct Deposits FDIC Insured by Huntington and Countrywide
10/24/07 - UFB Direct's No-Min Absolute Savings Account Still Holding at 5.31%
7/12/07 - UFB Direct's New Absolute Savings Account Now 5.31% on All Tiers
6/27/07 - UFB Direct Closes No-Min Savings and Starts New Tiered Savings Account
12/7/06 - UFB Direct: The Top No-Min Savings Account at 5.32%
9/13/06 - UFB Direct: the Top Low-Min Savings Account at 5.27%
8/15/06 - UFB Direct's No-Min Savings Account Now 5.26%
8/9/06 - CD Rates Go Down Again This Week at UFB Direct
8/1/06 - UFB Direct, Jumbo Money Market Rate Up But CD Rates Down
7/7/06 - 5.30% 3-Month CD, 5.13% Jumbo Money Market at UFB Direct
6/21/06 - 5.50% 1-year CDs Now at UFB Direct, M&T and Tranportation Alliance Banks
6/7/06 - UFB Direct Raises Money Market Account to 5% ($50K+)
5/4/06 - 5.00% 3-Month CD at UFB Direct
4/12/06 - UFB Direct's 5% Money Market Promo
4/4/06 - UFB Direct's Savings Account Rate Back Up at 4.40%
2/28/06 - UFB Direct No-Min Savings Account: 4.50%, Jumbo: 4.73%
2/16/06 - UFB Direct's No-Minimum Savings Now 4.30%
2/10/06 - UFB Direct 4.60% Jumbo Money Market Account
1/2/06 - UFB Direct Raisies Money Market Rates
11/2/05 - New CapOne/Costco and UFB Direct Money Market Rates
8/22/05 - The Deal at UFB Direct
Great online savings account...
UFB Bank has a great online savings account. The rate was so much higher than I could find anywhere else, especially local banks. Opening the account was very easy and only took a few minutes. Once the account was open it was easy to transfer money into the account via ACH. The website itself was very nice and was extremely easy to use. It had all the necessary information easily at hand and kept a record of your transactions along with all your old statements. Given that this bank is FDIC insured is a great peace of mind because that means at least 250,000 dollars is insured by the FDIC. If for any reason this bank was to go out of business the FDIC would step in and insure that depositors would get all their money back. I recommend UFB wholeheartedly.
Be On The Lookout....
Just noticed they dropped from 1.25 to 1.00. they never send out an update to customers. In the past they dropped like a rock from 1.25 to .25
Watch OUT!
A little over a year ago this bank dangled an interest rate of 1.25%. Within months the interest rate plummeted by .85%, dropping to .40%. Online I easily opened a UFB Direct savings account, but naturally after a few months I left very little in it and then finally closed it. I was told by customer service that I could not set up through UFB Direct ACH transfers so I simply set up these "in & out" ACH transfers to originate from my other banks (trial deposits went smoothly). When logging in the site often demanded a verification code which it offered to send by email or text. Unusual, but not too much work. As long as the savings account balance was over $25,000 the entire balance enjoyed the highest interest rate. When the time comes to close the account you must give UFB Direct notice beforehand, or else you forfeit any outstanding interest. I emptied the account to zero after the end of the month prior to closing it (therefore successfully transferring out all the interest) because it's unclear what that process necessitated. For some odd reason I was required to print, sign, scan, and return a signature card despite not having a checking account. You're responsible for ATM fees using an ATM card linked to the savings account, but you're reimbursed for any ATM fees while using a debit card linked to the checking account. A smart phone app is available for mobile banking including depositing checks and paying bills from a checking account.
The 1.20% Is Only An Introductory Rate
In 2015 I opened a savings account with UFB Direct because the interest at the time was higher then anyone else at 1.25%. After six months they knocked my interest rate down to 0.25% without telling me. I noticed a significant reduction in my interest earnings in the seventh month and I gave them a call. They said sorry, the 1.25% rate was an introductory rate. I transferred all of the funds out of the account. Eight months later they called me and offered to reset my account at the new rate of 1.20%. That was a week ago. I checked my UFB Direct account today and when I clicked on "See Account Details" it shows my interest rate set a 0.200%. I'm not surprised!
Data as of Q2 2016
Learn more about bank healthHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35546 |
| Year Established | 2000 |
| Employees | 647 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.93% |
| Return on Equity - YTD | 22.62% |
| Annual Interest Income | $174.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2016vs Q2 2015 | $7.59B$5.82B |
| Loans | Q2 2016vs Q2 2015 | $6.41B$5.03B |
| Deposits | Q2 2016vs Q2 2015 | $6.12B$4.47B |
| Equity Capital | Q2 2016vs Q2 2015 | $657.1MM$513.7MM |
| Loan Loss Allowance | Q2 2016vs Q2 2015 | $35.8MM$28.3MM |
| Unbacked Noncurrent Loans | Q2 2016vs Q2 2015 | $31.9MM$30.8MM |
| Real Estate Owned | Q2 2016vs Q2 2015 | $207.00K$1.2MM |
Always verify rates and promotions with the bank or credit union. We are not UFB Direct; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
UFB Direct Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.00%* | $25k* | - | UFB Savings | ||
| OTHER TIERS: 0.20% → Up to $25k | |||||
UFB Direct Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.20% | $5k | - | Money Market |
UFB Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 4350 La Jolla Village Drive, - San Diego, CA 92122