UFB Direct is offering the best savings account right now at 5.31% APY. The minimum deposit required is $1 and you must keep your account active for at least 6 months. UFB Direct Banking Center is an online only bank so the only way to apply is by either filling out an application online, mail or speak to a customer service representative and apply over the telephone. To apply by mail, you will need to download their application from the UFB Direct website, fill it out and mail it to the address on the bottom of the application. Then you will have to transfer the money by either ACH, paper deposit or have your bank wire it over.
UFB Direct Banking Center is FDIC insured up to $100k and has won 9 consecutive top tier award at Bankrate.com. Their headquarter is located in the city of Irvine, California. For more information, please visit their homepage at http://www.ufbdirect.com.
***Update
Editors at BankDeals warned readers that UFB Direct Banking Center is FDIC insured through either Countrywide or Huntington National Bank. This can create a lot of problems for customers with savings account in both Countrywide and Huntington National Bank because you can easily go over the FDIC limit of $100k. Here is the original post.
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