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UFB Savings Banking, Explained

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UFB Savings Banking, Explained

08/28/24 11:33 am

If you're looking for a stress-free way to increase your financial portfolio, a High Yield Savings Account is a secure and low-risk avenue to incrementally add to your overall finances.

 

Work smarter, not harder and make your money work for you by earning high APY, annual percentage yield, or interest, on your savings account, versus earning pennies every year. 

 

If you have a chunk of savings just sitting in a traditional bank account, it may be time to make the switch! 

 

Learn more about High Yield Savings Accounts here.

 

These newer, mostly online banks don't have traditional brick-and-mortar locations or tellers but they make it up for it by having comprehensive online tools, apps, and ATM locations, for both withdrawals and deposits.

 

UFB Direct is an online bank that has extremely competitive interest rates and helpful features to their savings and checking offerings. They are FDIC Insured 

 

The UFB Portfolio Savings account has a whopping APY rate of 5.15% with an additional boost of .20% if you meet specific requirements, making it one of the highest interest rates on the current market. 

 

More details:

  1. Interest Rate - Starting at 5.15% with no balance or deposit minimum

  2. Ability to boost to 5.35% by meeting requirements, such as:

    1. Opening a checking account with direct deposits from your employer to increase 0.05%

    2. Increase APY rate by 0.10% by maintaining a minimum $10,000 balance

    3. Increase APY rate by 0.05% by having 10 debit transactions per month

  3. No monthly fees, or minimum balance fees. 

  4. UFB Freedom Checking account has no monthly fees and free ATM access to over 91,000 ATM locations. Note that there is an overdraft fee of $25. The checking account does not receive any interest, however setting one up will increase your Portfolio Savings APY rate. 

  5. Great features make this account easy to use:

    1. Set up an account in 15 minutes.

    2. Download the highly-rated and easy-to-use App.

    3. Have access to thousands of ATM points with no fees. 

    4. 24/7 Customer Support by phone and Chat support 

 

UFB Portfolio Savings' competitive 5.15% APY rate with room for growth and easily accessible customer service reps make it a highly profitable choice for your savings. Be sure to set up safety nets on the checking account so as not to incur overdraft fees.




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