A money market savings account can offer a number of benefits for banking customers, chief among them a higher return on their money. Unlike a traditional savings account, a money market savings account comes with a more favorable high money market interest rate, something that can generate greater earnings off your balance.
Just how much that return is can vary as many banking institutions implement different methods of compounding interest. To provide their customers with the best returns UFB Direct, a division of BofI Federal Bank, an FDIC insured financial institution established in 2000, compounds interest on a daily basis.
For those who want to open a money market account UFB Direct has made available a money market interest calculator, detailing exactly what they can expect in the way of returns from their account. To make their money market savings account even more attractive UFB Direct is currently offering a high money market interest rate of 1.15% APY for balances that maintain a minimum average daily balance between $5,000 and $250,000.
Along with their high money market interest rate UFB Direct offers customers a number of perks and conveniences that go with their money market savings account, including no monthly maintenance fees for those accounts with a minimum $5,000 average daily balance; free MyDeposit which enables customers to deposit checks instantly from the comfort of your home or office; free online banking with Bill Pay (limited), free mobile banking, email and text messaging alerts; easy online transfers between your UFB Direct accounts (limited); and much more.
Open a money market account with UFB Direct today and see how quickly your money grows with a high money market interest rate.