EverBank has a high yield money market account with a 1.51% annual percentage yield (APY) for the first year. The Yield Pledge Money Market has a bonus rate of 2.25% for three months for first-time account holders.
The bonus money market rate applies to balances up to $50,000. Balances above that amount earn the variable ongoing money market rate, which was 1.25% as of Feb. 4, 2010. The bank is required by law to disclose the blended APY, which combines the bonus and ongoing interest rates for an estimated new account first-year APY. The new account first-year APY for balances from $50,001 to $10,000,000 is basically a range between 1.26% and 1.51%.
Other details of the money market account include:
- Minimum opening deposit of $1,500
- $8.95 monthly fee if average monthly balance falls below $5,000
- Only six transfers or withdrawals each month to avoid a fee
- Free online and mobile banking
- Free at-home check deposits
You can also combine the high yield money market with a high interest checking account. The FreeNet Checking Account requires a minimum opening deposit of $1,500 but there is no minimum balance to earn interest. The checking account has a first-year APY of 1.46% for balances between $50,000 and $100,000, and a three-month bonus rate of 2.25%.
Maintain a checking balance of at least $5,000 to avoid a monthly fee of $8.95. You also can write an unlimited number of checks.
- 6 Month CD 1.07 %
- 1-year CD 1.34 %
- 2-year CD 1.74 %
- Money Market Account 1.05 %
- Savings Account 1.04 %
- 30-year Fixed Mortgage 7.04 %
Bank rates provided by MoneyRates.com based on average rates for deposits under $10K and conforming mortgage rates
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