Everbank is offering a 6-Month Bonus rate of 1.40% APY on their Yield Pledge Money Market Account up to $50K, Yield Pledge Checking up to $100K, and Small Business Checking up to $100K. This high yield interest promotion is available nationwide for new customers of the bank.
After the 6-month intro rate, your rate will be the ongoing standard rate of 0.93% APY (Updated April 27). However, the standard rate can fall or rise at any time. This is a great offer that outshines that of Ally Bank, Barlays Online Savings Account, Sallie Mae’s Money Market Account, Synchrony Bank’ Optimizer+plus High Yield Savings Account, and Personal Savings from American Express. Mainly because you get a similar high 1st-year APY with all these at near 1% but a special 1.40% for the first 6 months of Everbank.
EverBank Yield Pledge MMA only does a soft pull on your credit report but you cannot fund it with a credit card. You must open with a transfer or check. There are no monthly fees with this account and no need to hassle with direct deposits. Although you do need an opening balance of at least $1,500.
One of my favorite things about the account with Everbank are the automatic reimbursements of all U.S. ATM fees with a minimum $5,000 balance.
EverBank promises to always keep their yield in the top 5% of the nation’s competitive banks. You can read more over at Everbank.com.