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everbank

EverBank® is consistently in the top tiers for rate offerings on online savings accounts. Their static rate has them in the top ten of my rate list, and if you include their promotional rate they are number two for the first year of deposits depending on the balance. The rates used by Everbank are tiered and a mildly irritating to understand. I have tried to list the rates as accurately as I understand them, all rates are as of 07/10/2009 and are subject to change at any time.

Products

Yield Pledge Money Market Account

Features:

  • Minimum $1,500 to open an account
  • Minimum $5,000 to Avoid a monthly fee of $8.95
  • Guaranteed top 5% of rates

Rate: 3.01% Introductory Rate (up to first $50k)

First Year APY:

  • Up to $50k – 2.15%
  • Above $50k – 1.83%

Non Promotional APY:

  • 1.85% as of 07/10/2009
Yield Pledge CD

Features:

  • Guaranteed top 5% of rates when CD is opened
  • No teaser/introductory rate.

Rates(APY):

  • 6 Mnth – 1.60%
  • 1 Year – 2.00%
  • 3 Year – 2.35%
  • 5 Year – 3.10%
FreeNet Checking Account

Features:

  • Reimbursed up to $6 per month for ATM Fees
  • Visa Checkcard
  • Unlimited check writing
  • No Monthly Fees & No Minimum Balance requirements

Rate: 3.01% Introductory Rate

First Year APY:

  • $50k-$99,999.99 – 1.96%
  • $25k-$49,999.99 – 1.58%
  • $10k-$24,999.99 – 1.54%
  • Under $10k – 1.52%

Non Promotional APY:

  • Over $100k -1.85%
  • $50k-$99,999.99 – 1.60%
  • $25k-$49,999.99 – 1.10%
  • $10k-$24,999.99 – 1.05%
  • Under $10k – 1.02%

Your EverBank account is FDIC insured under certificate number 34775 and unlike some of the other online banks, this is a true online bank and not just an arm of a brick and mortar institution. While their rates are moderately confusing you could still wind up ahead. If you are interested in obtaining more information stop by Everbank‘s site

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