A Playa Can’t Make It Rain If…
A playa can’t make it rain if his grips are locked in a CD. Are you on the hunt for a place to park your cash and earn a li’l cheddar – but want to be able to access it?
A great savings rate for a liquid account is EverBank’s Yield Pledge Money Market Account. It pays 1.25% guaranteed for six months on balances up to $50K. To earn more, you’d have to sock it away in a CD for over a year or dabble in loan sharkuterie.
I’ve had this account before. All legit. FDIC insured. $1,500 to open. Must keep $5,000 daily average to avoid $8.95 monthly service fee. Free online banking and mobile check deposits – because people love photographing the fruit of their labor.
Everbank’s Pledge Checking Account is also 1.25% guaranteed for six months on balances up to $100K.
Since Everbank’s deals are for 1st time account holders, and I am no longer an EverBank virgin, I am going to move my dough to Ally Bank Savings (.95%). Other bigger banks that have decent rates are FNBO (.85%) and Capital One 360 Savings (.75%).
Don’t get stuck in concept prison. You CAN have multiple bank accounts. You don’t have to kill off your Capital One 360 Checking account to open an EverBank Money Market account. I say give EverBank a six month trial and see what you think!
By the way, Everbank’s Pledge Checking Account requires $1,500 to open account. No minimum balance to earn interest. Free Online & Mobile banking. Unlimited ATM reimbursements & Online BillPay if you maintain a $5,000 average daily balance. Otherwise, you’ll pay a total of $8.95 per month for those.