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There's no better feeling than earning a high return on your investment. When it comes to savings, banks often reserve their highest rates for certificates of deposit (CDs) as compensation for leaving funds in an account untouched for a set period of time. 

However, the UFB Direct Secure Savings Account currently earns an astounding 5.25% APY. An interest rate this high not only places it among the best savings accounts around but also rivals what you can earn with many one-year CDs. 

UFB Direct Secure Savings Account

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at UFB

  • Our Rating 5/5 How our ratings work Read the review
  • APY5.25% More Info

    UFB Direct breaks balances into five tiers, but, currently, there is only one interest rate.

  • Minimum
    Deposit Required
  • Intro Bonus N/A

The UFB Direct Secure Savings Account has one of the highest interest rates we’ve seen for a high-yield savings account at up to 5.25% APY. Plus, there are no monthly fees and no minimum balance to open.


With one of the strongest high-yield savings interest rates on the market, as well as no monthly fees or minimum opening deposit, UFB Direct’s Secure Savings Account is an extremely attractive package.


  • Strong interest rate
  • No maintenance fees or minimum monthly balances
  • Free complimentary ATM card
  • Mobile app and SMS banking


  • No signup bonus
  • No associated checking account

UFB Savings Details

UFB Direct is an online-only division of Axos Bank. UFB Direct Secure Savings Account is the bank's high-yield savings account and currently earns 5.25% APY on all balances. 

How much interest can you earn with a UFB Direct Secure Savings Account? If you deposited $10,000 into the high-yield savings account and added nothing more, at the end of one year, you would earn around $525. The UFB Direct Secure Savings Account carries no minimum opening or ongoing deposit requirements and no monthly service fees. Savings accounts also come with a free ATM card and access to over 91,000 fee-free ATMs across the country. 

As an online bank, UFB Direct customers can access their accounts online or through its highly-rated mobile app. Customers can check balances, transfer funds, deposit checks, and more through the app. 

Something to keep in mind, especially if you're already an Axos Bank customer, is that UFB Direct accounts are FDIC insured up to $250,000 per depositor total, combined with deposits at Axos Bank or other divisions of the bank. 

One-Year CDs

A certificate of deposit is a timed deposit account that requires you to agree to keep funds in the account for a specified time in exchange for guaranteed fixed interest rates. CD terms generally range from three months to five years, although there are shorter and longer CDs available through select financial institutions. Typically, the longer the CD term, the higher the interest rate offered, but it also extends the time funds are tied up in an account. One-year CDs are CD accounts with a one-year time commitment. Many one-year CDs offer competitive interest rates that can maximize your savings. 

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Best 1-Year CDs: Earn Over 4.00% APY With Low Risk

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UFB Savings vs. One-Year CDs

It's rare to find a high-yield savings account that offers such a great interest rate, especially without having to meet monthly requirements, like a minimum balance or a set number of deposits. There are several one-year CDs that offer comparable rates, but you'll usually need to keep your money locked away for the full term length to avoid a costly fee.

For comparison's sake, here are several of the best one-year CDs currently available:

Discover Certificates of Deposit

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at Discover

Despite the steep minimum opening deposit requirement, Discover Bank's certificates of deposit are competitive with the best CD rates currently available. And with maturities ranging from three months to 10 years, it's easy to find a term length that works for your specific savings plan. It's worth noting that some of Discover's strongest rates are on par with what you'd get from the best online banks.


Discover CDs include a healthy variety of options, with term lengths as short as three months and as long as 10 years. This spread makes it easier to take advantage of CD laddering, which involves spreading your deposits across accounts with varying maturities, so you can enjoy the higher rates with longer terms without locking up all of your money for so long. To open a CD with Discover, you’ll need a minimum opening deposit of $2,500. This is more than what a lot of other banks require, but Discover’s rates are nonetheless competitive with online-only banks, and, in most instances, more than you’ll earn with traditional banks.


  • Strong interest rates for terms of one year or more
  • Wide range of maturities


  • Interest rates are the same for many of the longer terms

Synchrony Bank Certificates of Deposit

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at Synchrony

Synchrony Bank offers some of the most flexible CD options currently available. With terms ranging from three months to five years, as well as a Bump-Up CD and No-Penalty CD option, there's likely a certificate of deposit in Synchrony's roster that lines up with your needs. Additionally, none of Synchrony's CDs require a minimum opening balance, which is remarkably rare (many of the best CD rates require a minimum deposit of $1,000 or more). Across the board, Synchrony offers higher rates than most traditional banks, and some even outpace the best online banks' rates. All this makes Synchrony CDs an easy recommendation.


Synchrony Bank offers CD terms ranging from 3 months to 60 months, and across the board its rates are some of the highest currently available. While it only offers one No-Penalty CD and one Bump-Up CD, both are competitive in their respective areas. Another major perk of Synchrony CDs is the lack of a minimum opening deposit requirement; many CDs with comparable rates require you to commit to $1,000 or more, which make Synchrony’s CDs remarkably accessible by comparison.


  • Strong interest rates
  • No minimum deposit requirement
  • Strong no-penalty and bump-up CD options


  • Only offers terms of up to 60 months

Capital One 360 Certificates of Deposit

Open CD

at Capital One

Capital One offers some of the strongest interest rates currently available; with terms ranging from six months to five years, few other banks can compete with its CD rates. What's more, Captial One CDs are more accessible than many of its competitors' offerings. There's no minimum opening balance requirement for any of its CDs, and its early withdrawal penalties are relatively lenient, especially for longer term lengths.


With no minimum opening deposit requirement and a range of maturities spanning six months to five years, Capital One’s CDs are remarkably accessible to anyone who wants to maximize interest on their savings. Additionally, Capital One’s early withdrawal penalties are less punitive than many of its competitors. For terms of 12 months or less, the penalty is three months of interest; for terms of more than 12 months, the penalty is six months of interest.


  • Strong interest rates
  • No minimum balance requirement
  • Relatively lenient early withdrawal penalties


  • Lacks no-penalty CD option

Which Account Is Better: A High-Yield Savings Account or a CD? 

While the best one-year CDs offer APYs that are comparable to UFB's high-yield savings account, it's worth noting that you don't need to lock your money away for 12 months to receive this high APY with UFB. Plus, if interest rates continue to rise (as they likely will in 2023), you can earn a higher interest rate with UFB's account, whereas a one-year CD will be locked in at the current rate.

At this time, the UFB Direct Secure Savings Account is a pretty clear winner for most situations. However, the best option often comes down to your specific financial goals and situation. 

A high-yield savings account may be a good savings vehicle if you: 

  • Need access to funds over the next year
  • Are building an emergency fund or another savings fund
  • Don't want to pay penalties for withdrawing funds
  • Want to add additional funds to your balance

A one-year CD might be a good option if you: 

  • Want to earn guaranteed returns 
  • Have funds you don't need access to for the next year
  • Want access to higher interest rates

Compare the two banking options and shop around to find the best account to meet your current needs. 

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Featured photo: Unsplash/UFB Direct


Louie Patterson

Louie Patterson is a Finance Content Manager who specializes in banking topics such as account bonuses and CDs. With over seven years of professional editorial experience, their work has appeared in several publications, including USA Today and Consumer Affairs.