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EverBank Savings Account and Money Market Account Review

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EverBank, headquartered, in Jacksonville, Florida, is offering a savings account and a money market account that have very decent interest rates. EverBank is offering their Yield Pledge Savings Account and their "Yield Pledge Money Market Account". Both deposit accounts have rates that are significantly above the national average rate and higher than most rates offered.

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



EverBank's current savings interest rate on their Yield Pledge Savings account is 1.05 percent with a savings yield of 1.06 percent. The minimum opening deposit is $1,500. This account is also available as an Individual Retirement Account (IRA) with the same rate and yield.

EverBank's money market account has an introductory rate for three months. The bank's current introductory interest rate on their Yield Pledge Money Market account is 2.01 percent. One of the highest money market rates around. The rate is only for balances up to $50,000, balances over $50,000 earn a rate of 1.06 percent. The current ongoing MMA rate is also 1.06 percent. The minimum opening deposit on this account is also $1,500.

You have to be a first time Yield Pledge Money Market Account holder to earn the bonus rate and yield. Although money market account rates are variable this rate and yield are guaranteed at the fixed rate for the first three months.

When you factor in the bonus intro rate of 2.01 percent and the current ongoing rate of 1.06 percent the current APY on the account is 1.30 percent.

Savings accounts and money market account can be opened online at everbank.com or by calling EverBank at 888.882.EVER (3837).

Update 6/16/12: EverBank money market rates and savings account rates have gone down since the was first posted. The good news is EverBank's money market promotional rate was recently raised again. The current EverBank money market rate is 1.24 percent with an APY of 1.25 percent.
 
Author: Lisa Graham
January 24th, 2011