The Newtown Savings Bank still offers their best savings account called U-Sweep Savings which gives 1.80% APY for all balances. The account does not impose any monthly service fees and balance requirements. There is also a good facility for ACH transfers in case the account holder needs to make a withdrawal or deposit.

The earnings of this high interest savings account have been falling the past few weeks but is still very competitive in the market. This good money in the bank deal is available nationwide. The yield for the account is earned on a daily basis and credited monthly.

Interested consumers must send the application form thru fax or via mail. According to the customer service representative the bank does not perform a hard credit inquiry. Account holders also receive electronic statements instead of the usual print-out.

The U-Sweep Savings account also has another unique feature— unlimited withdrawal. You can also link it to your other savings or checking account. Transfers are also unlimited.

The account holder though does not have ATM or check writing privileges, so the only option to withdraw your money is via ACH. The bank makes the size and number of withdrawal through their ACH transfer as an unlimited service.

Newtown Savings Bank has offices in New Haven, Litchfield, and Fairfield in Connecticut. BauerFinancial gave 3.5 stars while Bankrate.com issued three stars when they reviewed the bank’s performance using their December 2008 data.

The bank is covered by the FDIC with certificate number 18199.