UFB Elite Savings Accounts

UFB Elite Savings Accounts Review

UFB Elite Savings Accounts is offered by Axos Bank, a bank founded in 2000 and based in San Diego, CA. UFB Savings Accounts are available in 50 states (and Washington, DC).

Key Takeaways

• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3.16%, which is much higher than the average interest rate for a savings account.
• No minimum initial deposit. There is no minimum balance required to open an account online.

UFB Savings Accounts Pros & Cons

Pros	Cons
Available in all 50 states. High variable APY.	Does not offer mobile check deposits. Does not provide access to a nationwide ATM network. Does not come with a debit card No signup bonus.

UFB Savings Accounts FAQ

Are savings accounts from Axos Bank federally insured?

Yes, your Axos Bank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #35546). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does Axos Bank offer a signup bonus?

UFB Savings Accounts doesn't offer a signup bonus.

What is the minimum initial deposit for UFB Savings Accounts?

There is no minimum deposit to open a UFB Savings Accounts.

UFB Elite Savings Accounts Minimums

Description
Minimum Balance to Avoid Monthly Fee	$0
Minimum Balance to Earn APY	$0
Minimum Direct Deposit to Avoid Monthly Fee	Starting at $0
Minimum Opening Deposit	$0

What APY does UFB Elite Savings Accounts offer?

UFB Savings Accounts offers an APY of 3.16% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only savings accounts, which is around 1% APY.

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does UFB Savings Accounts charge?

UFB Savings Accounts does not charge a monthly service fee. See the fee breakdown section below to view all fees.

Can you set up a direct deposit to UFB Savings Accounts?

Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for UFB Savings Accounts?

The customer support email for UFB Savings Accounts is contactaxos@axosfs.com.