EverBank High Yield Money Market Accounts

EverBank headquartered  in Jacksonville, Florida, is advertising their "Yield Pledge Money Market Account”  that currently has a 3 month introductory annual percentage Yield (APY) of 2.25 percent. That yield is higher than most money market account rates and savings account yields offered by any bank or credit union.

The 3 month high yield money market account rate is on the first $50,000 deposited. Money market account balances over $50,000 currently earn an APY of 1.26 percent. The minimum opening MMA balance is $1,500.




Searching for the best savings account rates and money market account rates? Use our rate tables at SavingsAccount.MonitorBankRates.com to find the best savings rates and money market rates in our area.

You have to be a first time Yield Pledge Money Market Account holder to earn the bonus MMA rate and yield. The rate and yield are guaranteed at the fixed rate for the first three months. After the bonus rate period the current money market account yield payed on the account is 1.26 percent.

When the bonus rate period (first 3 months) of 2.25 percent and the ongoing rate of 1.26 (last 9 months) is combined the current APY is 1.51 percent. Again, the 1.51 percent APY is on account balances of up to $50,000.

In addition to their Yield Pledge MMA EverBank is also offering their WorldCurrency Access Deposit Account. With is account you can earn interest in a foreign currency and gain (or lose) from the potential appreciation against the U.S. Dollar. You also have to pay a currency conversion fee when transferring money so be sure to factor these costs in. The minimum opening deposit for this account is $2,500.

EverBank’s FDIC Cert number is 34775. Accounts can be opened online or by calling EverBank at 888.882.EVER (3837). For more information about these accounts and a list of their current money market account rates go to everbank.com.
 
Author: Brian McKay
May 27th, 2010