UFB Direct Portfolio Savings Review

4.9

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Quick Take: The UFB Direct Portfolio Savings account offers a competitive APY. That alone might be enough of a reason to open one for some people, but it also has no maintenance fees and no minimum balance requirements. Plus you get access to a mobile app, online banking and SMS banking options.

UFB Direct Portfolio Savings Overview

The UFB Direct Portfolio Savings account pays up to APY* for up to 6 months on any balance, making it one of the highest-earning savings accounts available. There is no minimum balance requirement, and you pay no monthly maintenance fees. The account includes a full suite of digital banking features, including online banking, a mobile app and even SMS banking.

Perhaps the only drawback is that UFB does not offer a checking account, so you will need to have another bank as well if you want access to checking account features.

Key Features

The UFB high-rate savings account is pretty straightforward. Here are some of the key features:

APY

The annual percentage yield, or APY, at UFB Direct, is above average. The interest rate offered on the UFB Direct high-yield savings account is up to , on any balance. Not only is the rate one of the highest available today for savings accounts but with the lack of a minimum balance required, this account is a great option if you are looking for a place to park and grow your money.

Fees

Fees can add up quickly for bank accounts if you are not careful. Luckily UFB Direct doesn’t have ones commonly found at other financial institutions. UFB Portfolio Savings has no monthly maintenance fees. In addition, you don’t need to maintain a minimum balance in the account to escape a fee.

Perks

Opening a savings account at UFB will get you a free ATM card, fraud protection, around-the-clock customer service and a variety of digital tools for accessing your account.

Between the UFB mobile app, website and SMS banking, where you can check your balance and transfer funds via text, you can easily have access to your account anywhere in the world.

Ease of Use

This bank offers a high-rate savings account that is simple to understand and includes a full suite of user-friendly mobile banking tools, products and services.

One downfall is that you will need to transfer money from other accounts since UFB does not offer a checking account.

How UFB Direct Portfolio Savings Stands Out

UFB Direct boasts an up to APY on its Portfolio Savings account. While this is a stand-out feature to consider, the variety of digital banking tools is a big positive to keep in mind as well.

Besides online and mobile banking, including mobile check deposits, UFB offers SMS banking, so you can check your balance and transfer funds via text message — even if you don’t have access to Wi-Fi.

Comparable High-Yield Savings Account Options

When considering a high-yield savings account, you will want to compare options to be sure that you’re choosing the right account for your specific needs. Here are some others to consider.

Salem 5 Direct eOne Savings

Salem 5 Direct offers eOne Savings, which pays APY on any balance, with no required minimum balance and no maintenance fees.

They also offer a Savings/Checking Combo account if you want to do all your banking in one place.

SoFi High-Yield Savings Account

The SoFi High-Yield Savings account pays up to APY if you have a SoFi Checking and Savings, Member FDIC account with direct deposit. You can also get a cash bonus of $50 or $400 when you open an account and have eligible direct deposit.

How To Apply

Opening a UFB Direct Portfolio Savings account is easy. Just head to their website and click on “Open an Account.”

You’ll need your Social Security number, a driver’s license or another federal or state ID, phone number, street address and email address. You must be a U.S. citizen or a resident alien to open an account.

Who Is UFB Direct Portfolio Savings Best For?

The UFB Portfolio Savings account is a solid choice for those who are looking for a high-yield interest rate and those who don’t mind having their checking and savings accounts at separate banks. It’s also an account for those who are technically savvy and want to use the available digital banking options.

Other perks of this high-yield savings account, on top of the current offer of APY and lack of any required minimum deposit, is that it also offers free transfers between direct deposit accounts and gives you the ability to access account information and features through SMS messaging.

Good To Know

With the current banking market feeling somewhat volatile, it is always best to make sure the bank or account you choose best serves your needs.

Here are some things to consider before you open your UFB savings account:

• Complimentary ATM card
• Digital tools for seamless remote banking
• Free transfers between direct deposit accounts
• No maintenance or service fees
• No minimum deposit requirement

Final Take

If the interest rate is your primary criterion for a savings account, the UFB Direct Portfolio Savings account should be your choice.

With no fees or minimums to eat into your earnings and digital banking tools for easy access, this account is one to consider.

Compare To Other Institutions

• Varo Bank Review: Neobank With No Hidden Fees
• Marcus by Goldman Sachs High-Yield Online Savings Account Review
• Capital One Bank Review: No-Fee, High-Yield Accounts From One of Largest Credit Card Issuers
• Valley National Bank: Regional Bank with an Excellent Range of Banking Options
• Apple Federal Credit Union Review 2022: Is It Right for You?
• Citizens Access Review: Online Banking You Can Trust
• CIT Bank Review: An Online Savings Account That Really Pays

Caitlyn Moorhead contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Oct. 11, 2024. 

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

*UFB APY Boost Disclosure

New UFB customers can earn a limited-time 0.75% APY Boost to the current APY offered on UFB products titled “Portfolio Savings” and “Portfolio Money Market”. Accounts opened under any other UFB products are not eligible. Rates are variable and subject to change. Promotional terms and conditions are subject to change or removal without notice.

UFB APY Boost Promotion Terms

The following terms and conditions apply to the UFB APY Boost promotion (the “Promotion”), which allows eligible accounts (as defined below) to receive a 0.75% annual percentage yield (“APY”) boost to the base APY earned on their Portfolio Savings or Portfolio Money Market account (the “APY Boost”). The APY Boost can be earned for the first six (6) statement cycles including the cycle in which the account is opened and will be paid monthly as part of the monthly interest payment. Qualifying UFB Portfolio Savings or Portfolio Money Market accounts will earn a 0.75% APY Boost which based on today’s rate results in a total of 4.01% APY; rates are variable and subject to change. Customers who have previously held any account with Axos Bank or UFB Direct are not eligible, including but not limited to deposit accounts, loans, and investments. In order to qualify, the account must be created from October 1, 2026 through December 1, 2026 and contain the promo code UFB75 in the promo code field of the account application.

The account that is to receive the payout must be open and in good standing at the time the reward is paid to be eligible. Good standing means an account that is not subject to any administrative hold, restriction imposed for cause, or pending closure action by the Bank. An account with a negative balance may still be considered to be in good standing. Account transactions may take one or more business days from the transaction date to post to the account.

UFB reserves the right to limit each primary account holder to one (1) APY Boost promotional offer under this or any other APY Boost promotion per 12-month period.

The Promotion is non-transferable and limited to one APY Boost per account per customer. Any subsequent accounts opened by the customer will not receive the APY Boost under this Promotion.

UFB reserves the right to modify, suspend, or terminate the Promotion at any time without notice.

New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 0.80% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 9/23/26. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 9/23/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet.

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