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Everbank Money Market Rate to 4.76% intro APY and 3.51% Ongoing

Everbank Money Market Rate to 4.76% intro APY and 3.51% Ongoing

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Author: Ari Socolow on July 3, 2008 - modified on September 26, 2018

Everbank raised the rates on its money market and savings accounts today, continuing a general bank trend of rising rates.

Everbank raised the rates on its money market and savings accounts today, continuing a general bank trend of rising rates. The Money Market intro rate increased from 4.01% APY to 4.76& APY. This is a three month guaranteed intro rate. After that, the rate falls to 3.51% APY, which is still pretty competitive and puts it at the top half of the BestCashCow savings and money market rate tables.

The balance on their FreeNet Checking Account also increased from 4.01% APY to 4.76% 3 month intro APY with a continuing rate currently at 3.51% APY.

As we've mentioned before, the three month guaranteed rate is a great alternative to a 3 month CD. The money is liquid and it rolls over to a competitive rate.

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Ari Socolow: Ari Socolow is the Chief Economist and Editor-in-Chief at BestCashCow. He is particularly interested in issues relating to bank transparency and the climate crisis. Since co-founding BestCashCow in 2005, Ari has been frequently cited in the media as an expert on local and national savings accounts, CD products, mortgage and loan products and credit card rewards products.

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