Everbank Offers 2.51 APY Bonus Rate on Money Market Accounts

Everbank is offering a bonus rate of 2.51 APY for the first three months on all new money market accounts. After the three-month bonus period, the APY is still an industry leading 1.77% for the first year. Everbank also offers what it calls Yield Pledge, which is its guarantee to keep the yield on its money market account in the top 5%. According to Everbank:

We pledge to keep the annual percentage yield (APY) on your Yield Pledge Money Market Account in the top 5% of competitive accounts as tracked in the BankRate.com National Indexâ„¢ of leading banks and thrifts.

The MMA does require a minimum deposit of $1,500, but this account is best for those who will keep at least $5,000 in the account. Why? Because Everbank charges a monthly fee of $8.95 on the account if the average daily balance falls below $5,000.

If you don't have $5,000 to open the account, Ally Bank is one of the highest paying no minimum, no fee high yield savings accounts available. If you do have $5,000 to save, Everbank offers a competitive rate. Because rates do change, however, be sure to check the current rates and terms at www.everbank.com before opening the account.

We've added Everbank to our list of high yield savings account offers.