EverBank Money Market Account Yield 2.51%

EverBank of Jacksonville, Florida, is offering a money market account ( "Yield Pledge Money Market Account") that currently has an annual percentage Yield (APY) of 2.51% for the first three months.

The 3 month "Bonus Interest Rate" period APY on the money market account is for the first $50,000 deposited, balances over $50,000 currently earn an APY of 1.50%.

The rate and yield on the first $50,000 will remain fixed for the first three months. In other words, the account rate and yield are guaranteed. For money market account balances over $50,000 the rate is a variable rate.

If you combine the 2.51% 3 month bonus savings account period and the current account APY after the bonus period has ended, the first year's APY is 1.77%. EverBank refers to this as the "New Account First-Year APY". The first year APY can change because after the first 3 months the rate isn't guaranteed.

The minimum opening money market account balance is $1,500. There is an $8.95 monthly charge for accounts under $5,000, so be sure to keep at least $5,000 in the account if you decide to act on this promotional savings rate. If you don't, the charge will effectively lower the APY on the account.

Deposit accounts at EverBank have been insured by the FDIC since October 1998. The account is FDIC insured up to $250,000. EverBank's FDIC Cert number is 34775. Accounts can be opened online or by calling EverBank at 888.882.EVER (3837). EverBank High Yield Money Market Account Application.

In addition to deposit products including money market accounts and certificate of deposit accounts, EverBank also offers home financing products. EverBank's current conforming fixed 30 year mortgage rates are under 5.00% at 4.875 percent.