UFB Direct Money Market Rates
UFB Direct money market rates, which were already some of the best money market rates around, were increased overnight. Money market rates at UFB Direct were increased from 2.27 percent with an APY of 2.30 percent to 2.42 percent with an APY of 2.45 percent. This high money market rate on UFB Direct's Premium money market account is on balances of $25,000 and up.
UDB Direct is the online banking division of Axos Bank. Therefore, money market accounts and other banking products offered by UFB Direct are through Axos Bank and insured by the FDIC through Axos Bank. All deposit accounts of the same ownership and/or vesting held at Axos Bank are combined and insured under the same FDIC Certificate 35546.
Premium money market account rates at UFB Direct are tiered. Balances of $25,000 and above earn the high rate of 2.35 percent. Balances of $0- $24,999.99 earn a rate of 0.50%. UFB Direct uses the daily balance method to calculate the interest in your account.
Federal regulations limit certain types of transfers from a money market or saving account to a combined maximum of six per month. If you exceed the transfer limits on more than an occasional basis, UFB Direct may convert your account to one not subject to transfer limitations or close your account.
Each time a transfer is paid against your account in excess of 6 per month, you will be assessed an a fee. If your account is closed mid-cycle, your accrued interest will be forfeited. If your account is at zero at the end of your statement cycle, your accrued interest will be forfeited for that cycle and your account will be closed. If your average daily balance falls below $5,000 you will pay a monthly fee of $10.00.
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