EverBank’s Yield Pledge^® Money Market Account earned the distinction of “best of breed” by Money

Magazine in 2007. With this high interest savings

account you’ll earn an APY in the top 5% of competitive accounts.

The Average Investor

The Yield Pledge Money Market account is one of the best savings accounts for online banking but has a variable rate. A variable rate means the current APY may change without notice. The Annual Percentage Yield for all balances is currently 1.01% . First-time Yield Pledge Money Market account holders get a three month Bonus Interest Rate and New Account First-Year APY offer on their new account. The Bonus Interest Rate, offered at account opening is currently 1.26% (1.51% in Aug 2010), and remains fixed for the first three months. This bonus rate applies to balances up to and including $50,000. The New Account First-Year APY, for deposit amounts up to $50,000, is 1.07%APY (1.13%APY in Aug 2010).

The High-End Investor

If you have a balance over $50,000: those additional funds will earn the variable, ongoing APY of 1.00%. This rate may change at anytime—even during the first three months. As required by law, EverBank discloses a blended APY that combines the Bonus Interest Rate with the current ongoing rates to provide an estimated annualized figure, the New Account First Year APY, based on your average daily collected balance. However, this blended APY is not the exact APY that you would actually receive. The current ongoing rate will change periodically over the remaining 9 months of the First Year. The New Account First-Year APY for balances from $50,001 to $10,000,000 is best expressed as a range: 1.07% – 1.01% ( in Aug 2010: 1.13% – 1.01%); higher balances are accepted.

Bottom-Line details

The minimum deposit to open the high interest money market account is $1,500. In any month that your average monthly balance falls below $5,000, an $8.95 monthly fee applies. You are allowed 6 withdrawals/transfers in a month without any maintenance fee. If you go over the withdrawal limit, you will pay a $10 fee/transaction.

Summary of Ever Bank Money Market accounts

If you are looking to maximize your money in a high interest money market account, then you may have just found the right one. EverBank is FDIC insured. You, as savvy investor, will always want to compare interest rates and choose the best savings account that meets your specific needs. You can see an in depth review of EverBank on our website along with other comparable banks’ money market accounts. If you would like to see visually how Ever Bank’s money market account rates stack up, please see our money market rate chart.