Are you looking for a money market account or a money market deposit account that will kick start your interest income with a three months bonus rate of 2.25%. After the intro rate, your account is guaranteed by EverBank's YieldPledge to continue to outperform 95% of the market -currently earning 1.51% APY.
The EverBank Yield Pledge Money Market Account is a great choice if you are on the lookout for a money market account that has a high yield on savings and can maintain a balance of $5,000 or more. EverBank guarantees to all potential depositors that their yields will always be within the top 5 percentile of competitive accounts (as tracked on BankRate.com National Index) of leading banks and thrifts. If you are a rate chaser, and are growing tired of switching your money from bank to bank, you may consider hanging your hat at EverBank for a while.
EverBank Review:
With a disciplined and streamlined business model, EverBank has consistently proven that no matter what the economic forecast may be EverBank will still continue its growth.
About EverBank:
EverBank is an FDIC insured financial services company based on Jacksonville, Florida.
The Everbank Yield Pledge Money Market Account targets serious savers:
- Initial-deposit requirement to open an EverBank Money Market Account only starts as low as $1,500
- No-fee for Online and Mobile Banking for EverBank Money Market Account depositors
- Up to six withdrawals per month (Note that since this is a money market account, depositors are restricted by Federal regulations to six transfers OR withdrawals on a monthly basis)
- FDIC Insured
- Deposit Checks at home for FREE
- FREE Credit Monitoring coverage for 6 MONTHS
- Can be opened as an IRA
- No Balance Fee for balances over $5,000 otherwise an $8.95 monthly fee applies
Conclusion
EverBank's Yield Pledge Money Market Account is only of value to those who can maintain a balance of $5,000 or more. The $8.95 monthly fee for balances under $5,000 would make the account unprofitable.
EverBank's Yield Pledge sets them apart from other banks as most are unwilling to commit to keep their rates competitive. Also, Everbank is strong financially receiving 4 Stars from BankRate and 4 Stars from Bauer Financial Ratings.
If you can maintain a balance of $5k, go ahead and sign up for a new EverBank Yield Pledge Money Market Account, it will only take you 10 minutes!
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