Newtown Savings Bank still offers their online high interest savings account called U-Sweep. The current interest rate is 1.60% APY on all balances. This account does not require any minimum balance nor does it collect service fees every month.

This best savings account is offered to clients from any state. According to the CSR the bank does not do a hard credit inquiry when you open an account. You can also nominate beneficiaries of the account.

The application is a bit on the downside of the account since it will require you to download and print the application form from the internet, and you have to fax this to the bank with your proof of identification. If you have questions with regard to the process of application, you can call the bank through 203-270-6619.

This savings account does not come with any check writing privileges and does not come with an AM card. You can also monitor the account through e-statements.

The customer service representative told us that the number of withdrawals for this account is unlimited. You can also link your other checking and savings account to your U-Sweep account. ACH transfers are unlimited and free of charge. You can also expect overnight clearing of the transfer if you were able to initiate it before 1:00 pm.

Newtown Savings Bank has offices in New Haven, Litchfield, and Fairfield.

The bank gets some fair ratings. Bankrate.com issued 3 stars while BauerFinancial stamped 3 ½ stars. The bank is covered by the FDIC with certificate number 18199.