EverBank Promotional Money Market Account

EverBank is offering a promo money market account (MMA) that has an introductory rate of 4.00% APY for the first $50,000 deposited. Any balances over $50,000 during the bank's "Teaser Rate" period will receive an annual percentage yield of 3.16%.  The first year average APY is 3.42% on the first $50,000 deposited. The 3.42% rate is based on the 3 month bonus rate of 4.00% and the current ongoing rate of 3.16%  APY.