Update – EverBank has increased their bonus interest rate for the first six months to 1.25% APY. The previous bonus was 1.05% APY making the additional 20 points pretty lucrative for those that can deposit up to $50,000.
Even as interest rates continue to drop, EverBank has stepped forward to offer a bonus APY of 1.25% for the first six months on money market and free online checking accounts. Can you believe that 1.25% APY is the kind of interest rate to get excited about these days? Yuck.
Look around at the best online savings accounts these days and you won’t find any interest rate north of 1.05% or even 0.95%. EverBank has always been a bank that takes pride in offering one of the best interest rates in the country and has been the first bank in quite a long time to increase their interest rate (even if it’s only for six months). Offering a 1.05% APY is sure to attract a lot of new business and for good reason. Here are the details on the promotion.
- Bonus Rate of 1.25% for 6 months
- Money Market Account First Year APY: 1.01% up to $50k
- Checking Account First Year APY: 0.93% on accounts with $25k – $50k
- Eligible Accounts: All NEW Yield Pledge Checking & Money Market Accounts
And even after the bonus rate period has ended, the EverBank Yield Pledge promise will ensure these accounts will remain in the top 5% of competitive accounts nationwide – always. This consistently offers some of the highest yields in the nation (over 5X the national average for money market).
Furthermore, our Yield Pledge promise underlines our commitment to our depositors, providing them with best-in-class ongoing yields combined with a wide array of great products and excellent service. Today, we’re offering a Bonus rate that gives that little extra incentive for people to get to know us.
When you take a look at the EverBank interest rate table, you’ll notice that the bonus rate is available on more than just the above examples (meaning different fund amounts of just $1,000 qualify in some cases)