Much thanks to BankVibe reader Eric for spotting a promotional high yield money market account offer through EverBank. Apparently on all new checking accounts, Everbank is offering a 4% rate with a maximum deposit of $100K for the first 3 months. After the first 3 months you yield a 3.25%. The money market account offer applies to your first $50K, yielding 4% for 3 months and 3.42% for the rest of the year after the 3 months end.

Here are the Terms and Conditions of this offer:

1. EverBank^® pledges to keep the yield on your account in the top 5% of competitive accounts as tracked in the Bankrate.com National Index^TM of leading banks and thrifts. For the Yield Pledge CD this pledge applies at the time of purchase, or when rolling your expiring CD into a new CD with EverBank.
2. Rate information as of 12/01/2008. Competitor rates and terms and conditions can change at any time. Some competitor rates may vary by region. Sources for competitor information: ingdirect.com, gmacbank.com, citi.com, bankofamerica.com.
3. Rates and Annual Percentage Yields (APYs) are current as of 12/19/2008 12:00:00 AM. Minimum opening deposit of $1,500 is required. In any month that your average monthly balance falls below $1,500, a $4.95 monthly fee applies. Fees may reduce earnings. This is a variable rate account and any of the rates may change at any time without notice. This bonus rate and New Account First-Year APYs are available to first-time EverBank account holders only and is limited to one account per household. The bonus rate of 4.00% will apply to the first $50,000 on deposit for the first three months after account opening (the “Bonus Period”) and may change at any time prior to account opening. New Account First-Year APY for Balances up to and including $50,000: This corresponds to an Annual Percentage Yield (APY) for the 12 month period after the account is opened (“New Account First-Year APY” or “First-Year APY”), based on the current ongoing rates shown here, the current bonus rate and the average collected daily balance on your account, of 3.42%. New Account First-Year APY for Balances greater than $50,000: During the Bonus Period, balances of $50,001 and greater will earn an interest rate of 4.00% for the first $50,000 and an interest rate of 3.16% for all amounts above $50,000, and all funds in the account will earn the applicable ongoing interest rate, currently 3.16%, after the Bonus Period ends. Assuming the highest balance in the account is $10,000,000, the range of First-Year APYs available for this highest tier, based on the bonus rate, the ongoing rate, and the average collected daily balance on your account for the 12 month period after the account is opened is 3.42%-3.22% APY. Without the Bonus Rate: Without this bonus offer, the current APY for this account as of 12/19/2008 12:00:00 AM is 3.21% regardless of deposit amount.
4. Because this is a money market account, you are limited by Federal regulation to six transfers or withdrawals per month. See Terms and Conditions for details. Withdrawals or transfers in excess of these limits are subject to a fee.
5. Subject to credit approval.

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