RateAPY

Money Market Account from EverBank Yields Bonus Rate of 2.25% APY for First 3 Months

Posted by: RateAPY Bank Rates News
May 7th, 2010

Looking for a head-start on savings? Then you just may want to see what EverBank is offering with their Yield Pledge money market account. EverBank’s Yield Pledge keeps the yield on your money market account in the top 5% of yields on competitive accounts. Those are results you can literally “take to the bank.”

EverBank’s Yield Pledge Money Market Account

Open one of these special high-interest-rate money market accounts for the first time, and EverBank pays a fixed rate of 2.25% APY for the first three months on balances up to $50,000. After the first three months, account balances up to $50,000 yield 1.51% APY for the remainder of the first year, and balances in excess of $50,000–from $50,001 to $10 million–yield from 1.51% APY to 1.26% APY. After the first year, the rate is variable and is currently at 1.26% APY.

You can open one of these bonus rate money market accounts with an initial minimum deposit of $1,500, but there’s a monthly fee of $8.95 whenever your average monthly balance is less than $5,000. Contact Everbank for a full disclosure of Yield Pledge money market account requirements.

As with any investment, be sure to shop around. Compare money market rates before deciding where to put your money.