EverBank Money Market Rates
The current EverBank Money Market rates deliver high yields on your savings. The current high yield is at 1.77% APY for the first year on accounts that have $50,000 balance or less. But to start off your savings the beginning rate is at 2.51% APY for the first 3 months.
To get these great rates there is a minimum of $15,000 deposit required. The online and mobile phone banking is part of the package with your money market account that is absolutely free. For accounts that maintain a balance at or above $5000, there is no monthly service charge. If your balance does dip below the minimum amount there is a nominal fee of $8.95 that is charged. The balance is figured from the average daily balance over the entire period of the month. There are 6 withdraws allowed per month free of charge. This is in accordance with federal regulations. You can withdraw or transfer more times but there is a slight charge for each addition withdraws or transfers.
This is a variable rate that can change without notice these current rates were posted on 10/2/09 and are current as of 10/7/09.
The money deposited is insured by the FDIC and is safe from losses independent on what happens with this financial institution.
The interest rates are compounded daily and are credited to your account on a monthly basis.
The best bank rates are offered by EverBank Money Market rates when compared to their competition including ING, Ally, Citi and B of A.
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