Everbank Offering $75 Cash On Top of Bonus Rate Of 2.25% APY

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Everbank is offering up to a $75 bonus for customers who open a high-yield money market and FreeNet Checking account. That's on top of their 3-month guaranteed bonus rate of 2.25% APY. As the BestCashCow savings rate tables shows, that is the top rate in the country. After 3-months, the bonus rate drops to 1.25% APY for a blended 1-year APY of 1.51%. But even the 1.51% APY is the top rate.

To get the $75 bonus, you must open both a Yield Pledge Money Market and a FreeNet Checking Account. Both offer the 2.25% APY 3-month bonus rate. If you just open the money market, you receive $50 and if you just open the FreeNet Checking, you receive $25.

You must fund the Yield Pledge with a minimum of $20,000 and the Checking with a minimum of $10,000 and maintain the respective balance through 4 statement periods. The bonus cash will be deposited into the respective account during the 5th bonus period. So presumably five months after the account was opened.

In addition, Everbank pledges to keep your account at the top 5% of competitive accounts. The rate is locked at 2.25% for  three of the five months so you're pretty much guaranteed to receive a decent return.

Everbank has 4 out of 5 stars (Excellent) from Bauer Financial for its safety and soundness.

Sol Nasisi
Sol Nasisi: Sol Nasisi is the co-founder and a past president of BestCashCow, an online resource for comprehensive bank rate information. In this capacity, he closely followed rate trends for all savings-related and loan products and the impact of rate fluctuations on the economy. He specifically focused on how rates impact consumers' ability to borrow and save. He also has authored a wee

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