EverBank 4.76% APY Money Market Account

I have written about my favorite high interest online savings accounts in previous posts, and today my favorite is: EverBank. Although I am a huge fan of online savings accounts with $1 minimums to open, I had to make an exception. EverBank’s Yield Pledge Money Market Account requires a $1500 initial deposit, but is currently paying (as the header states) 4.76% interest for new accounts. This promotional rate is good for 3 months and then the rate switches back to their standard APY (currently 3.51% APY) which is still a great rate! 

EverBank calls it their Yield Pledge account because they “pledge that the yield on your money market account will be within the top 5% of competitive accounts available from leading banks.” If they stay true to this, they will be right up there with FNBO, ING Direct, HSBC Direct, etc. If you think this account is right for you, make sure you keep at least $1500 in your account. If you dip below the $1500 minimum at any time during any month, they hit you with a $4.95 monthly fee.

I don’t know about you but I can’t get my $1500 into EverBank quick enough…