A new message on the SFGI Direct website suggests that it will no longer accept new applications starting Nov. 6, 2009. The message says that it will remove the "Apply Now" button from its site on that day.
The reason the site gives for removing the button is that it has "chosen a strategy to slow account growth by limiting the application process for new clients instead of dramatically cutting the rates on loyal customers."
The site thanks readers for their interest in the bank and recommends checking back periodically to see if it is accepting new applicants again. The rate for the savings account listed as of Nov. 5th was 2.25% APY with a $500 minimum.
Other Terms and Conditions may apply to this offer - please contact the financial institution to review.