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Best Online Savings & Money Market Account Rates 2025

Best Online Savings & Money Market Account Rates

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Worried Your Bank Will Lower Interest Rates? EverBank May Offer Peace of Mind.

In a time of fluctuating interest rates, this EverBank account pledges that it will always remain in the top 5% of all competitive accounts.

EverBank, a bank often featured on BestCashCow.com, has long offered some of the most competitive savings rates around. Great interest rates can entice people to open up accounts, but if you’re going to make a new account one of your primary accounts, it often takes some additional work to make the switch. Not only do you have to do the bank paperwork, you also have to notify any other companies or parties who need to know your new account information. Unless the new bank interest rate is exceptional, some people feel the effort to change wouldn’t be worth the rate, especially in a time when interest rates change so often.

EverBank has a solution with their Yield Pledge Money Market Account. EverBank pledges that this account will always offer an interest rate in the top 5% of competitive accounts tracked in Bankrate Monitor, surveyed by Bankrate.com. With a minimum deposit of $1,500, you can open a Yield Pledge Money Market Account and earn a 3-month introductory interest rate of 2.25% for balances up to $50,000. Balances over $50,001 will net a variable ongoing APY, which is currently 1.26%. After the three-month introductory period, the bank gives a 1.51% APY for balances up to $50,000. Amounts over $50,001 and deposits after the first year will earn the variable ongoing APY. If your balance falls below $5,000, your account will incur an $8.95 monthly service charge. As long as you maintain a $5,000 balance, you also get free ATM use nationwide.

This introductory APY rate is higher than many current CD rates, and you get the added benefit of liquidity. While it’s possible to find another account with a higher introductory APY, it can be nice feeling to know that your bank pledges to always be in the top 5% so you won’t have to go through the hassle of switching banks very often.

For the best information on money market accounts, click here.

Citibank offers up to $400 cash reward for L.A. residents who open new checking account

Earn up to $400 in Citibank's LA account deal, or $50 to $100 for opening a checking account anywhere in the country.

If you live in the Los Angeles area, you could make as much as $400 for opening a checking account with Citibank.

To start off, anyone who opens a regular checking account with Citibank is automatically eligible for a $200 bonus. Those who open a checking account with the Citibank Account Package (as opposed to the Citibank Checking Package) can earn the full $400. This is a limited time offer that expires August 22.

There are, however, a few limitations to this otherwise fantastic deal. Within the first 60 days after opening the account, you must deposit a minimum of $1,000. Upon initiating the account, you must also make at least one monthly direct deposit for two months.

If you're not a frequent spender, though, you may find yourself losing the $200 to $400 you gained due to another one of the account's restrictions. For the first two months, you must make five or more monthly debit card purchases or pay two monthly electronic bills. Compared to other checking accounts that don't incur monthly fees (although the majority are going to, eventually), this may not be a good deal after all because you'll end up depleting some of the bonus you received.

But, if you regularly have at least five debit transactions a month and have $1,000 free to deposit, the extra money could come in handy. Preferred customers (who have Citibank checking, mortgage, and credit card balances) may also be able to waive monthly fees.

Another advantage to this offer is the Citibank ThankYou Rewards program, which enables customers to claim rewards simply for regular banking activities that they already do anyway. To speak with a Citibank representative about this offer, call (626) 912-1625.

For those who don't live in the L.A. area, Citibank is still offering cash rewards for opening an interest checking account with either the Citigold ($100) or Citibank ($50) account relationship package. This deal also requires customers to deposit and maintain a balance of $1,000 for at least thirty days, beginning within the first month of the account.

For Citibank's special offers page, click here. For other great bank deals, click here.

Incredible Bank: No Longer Incredible, But Still Competitive

Incredible Bank opened its online doors with a 2.02% APY on its free checking account, and equally incredible rates on a 1-year CD. That CD is no longer offered, but the bank still offers impressive but not incredible rates on its free checking account.

Best Cash Cow readers were first introduced to Incredible Bank in late 2009. The bank is an online division of River Valley Bank, located in Wausau, WI. At the time of the review in November 2009, Incredible Bank was offering a 2.02% APY on its free checking account for balances up to $250,000. In June 2010, the bank also offered a 12-month CD with a 1-year APY of 2.00%. As of today, the bank is no longer accepting new CD applications and the interest rate on the checking account fell to 1.53% APY. The interest rate in the checking account still remains one of the best around, however.
Mobile banking, online bill pay, and ATM transactions are free. E-statements are required if you don’t want to incur fees, as paper statements will cost you $15.00 per month. Prospective customers should be aware the bank pulls a copy of your credit report before it will open an account for you and the bank requires a minimum $1,000 deposit to open an account. Amounts over $250,001 only earn 1.00% APY and, as a reminder, amounts over $250,000 are not FDIC insured.
The dropping interest rate and the fact that the bank stopped accepting applications for CDs only two weeks after its initial offering makes you question how long the APY offer on the checking account will stay around. However, in an economy where some of the best savings account rates only pay 2.00%, a checking account that pays 1.53% is still a great deal. This is not a “rewards” checking account, and there are no monthly requires you have to meet for the interest rate. The parent company, River Valley Bank, has been around since the late 1960’s and has 18 branches in the Midwest. As of March 31, 2010 Bankrate.com gives River Valley Bank a four-star rating and a neutral predictive indicator. Deposits up to $250,000 at both River Valley Bank and Incredible Bank are FDIC insured.

For the best information on savings account rates click the "Savings" tab above, or for the best information debit-card rewards click on "Checking".

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Last Update on February 20, 2025

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