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EverBank Review 2024

Updated May 1, 2024
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At a glance

Best savings account
4.8
Rating: 4.8 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 4.6 stars out of 5

Checking

Rating: 4.7 stars out of 5

Savings

Rating: 5 stars out of 5

MMA

Rating: 4.5 stars out of 5

About Bankrate Score

Overview

EverBank is good for customers who want a full-service online bank with competitive deposit yields. It offers checking, savings and money market accounts as well as certificates of deposit (CD) accounts.

Highlights

  • ATM Fee Refunds
  • High APY
  • Low Fees
Sponsored offers
Info

These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
CD
5.05
%
APY
APY
Info
As of 5/20/2024
Rating: 4.6 stars out of 5
$1,000
Minimum deposit
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
Savings Account
4.25
%
APY
APY
Info
As of 5/20/2024
Rating: 4.4 stars out of 5
$1
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
Savings Account
5.00
%
APY
APY
Info
As of 5/20/2024
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: Plus, no monthly fees and unlimited free external transfers

Overall

EverBank is an institution that operates primarily online, offering deposit accounts with competitive rates and low minimum balances, and customers have access to almost 100,000 fee-free ATMs. The bank maintains a limited number of branches, mainly in Florida.

EverBank earned the Best Savings Account honor in the 2024 Bankrate Awards.

Pros

  • Checkmark

    EverBank offers competitive yields on its savings account and certificates of deposit (CDs).

  • Checkmark

    The bank provides access to thousands of surcharge-free ATMs.

  • Checkmark

    It offers a variety of services and products.

Cons

  • EverBank has a limited network of full-service branches.

  • It doesn’t offer a no-penalty CD.

EverBank Logo

We want to know what you think about EverBank

Do you have experience with EverBank? Let us know your thoughts.

EverBank banking products

5.0
/5
Rating: 5 stars out of 5
See methodology Compare savings rates
SCORE BREAKDOWN
APY offering:
5.15%
Rating: 5 stars out of 5
5/5
Info
Minimum balance to earn interest:
$0.00
Rating: 5 stars out of 5
5/5
Info
Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
Info
Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
Info
Access to funds:
Great
Rating: 5 stars out of 5
5/5
Info
FEATURES
Invest Rate
5.15% APY
Info
Loan
$0 minimum deposit to open

EverBank savings overview

The EverBank Performance Savings account earns a highly competitive APY, and there’s no minimum opening deposit or monthly service fee.

Pros

  • Checkmark

    The account earns a highly competitive APY.

  • Checkmark

    There’s no monthly service fee.

  • Checkmark

    You can deposit checks into the account via a mobile device.

  • Checkmark

    The Performance Savings account doesn’t have a minimum opening balance requirement.

Cons

  • Some savings accounts offer slightly higher yields.

  • See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

    EverBank
    APY
    APY
    Info
    National average APY
    How do we get this data?
    Info
Compare Offer
Sponsored Offer
Info

This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.25
%
APY
APY
Info
As of 5/20/2024
Rating: 4.4 stars out of 5
Info
$1
Min balance for APY
Promoted offer:

Bank fees

Fee Charged?
Overdraft fee None
Non-sufficient funds fee None
Monthly maintenance fee None
Out-of-network ATM fee $0
Excessive transaction fee None

Customer experience

Customer support

Physical presence. EverBank serves customers in all 50 states, although the majority of its branches are located in Florida. The bank provides access to nearly 100,000 surcharge-free ATMs.

Customer service. Customer service is available by phone weekdays 8 a.m. to 8 p.m. Eastern time and Saturdays from 9 a.m. to 7 p.m.

Digital experience

Mobile app. In August 2023, TIAA Bank started operating as EverBank. While the TIAA mobile app is highly rated and still available for download, EverBank plans to introduce a new mobile app in 2024, according to its website.

About EverBank

TIAA Bank now operates as EverBank as of Aug. 1, 2023. It’s primarily an online bank, available to customers in all 50 states. It also maintains nearly 2 dozen branches, most of which are located in Florida.

Conveniences EverBank offers include access to nearly 100,000 fee-free ATMs nationwide, low minimum balance requirements and peer-to-peer payment capability through Zelle.

How EverBank compares to other banks

Compare different account types offered by EverBank. Annual percentage yields (APYs) shown were updated between May 13, 2024 and May 19, 2024.

Selected bank
EverBank (formerly TIAA Bank) savings account
EverBank (formerly TIAA Bank) Logo
Member FDIC
Bankrate score
Rating: 5 stars out of 5
5.0
Info
Most comparable
SoFi savings account
SoFi Logo
Member FDIC
Bankrate score
Rating: 5 stars out of 5
5.0
Info
Read review
Caret Down
Bankrate score
Info
Read review
APY
Info
5.15% 4.60%
Minimum balance for APY
$0.00 $0.00
Estimated earnings
Info
$1,288 $1,150
The EverBank Performance Savings account earns a highly competitive APY, and there’s no minimum opening deposit or monthly service fee. SoFi Bank has a competitive annual percentage yield on its savings account. You’ll need to open both a checking and savings account at SoFi. And setting up a direct deposit is required to earn the bank’s top APY.
  • The account earns a highly competitive APY
  • There’s no monthly service fee
  • You can deposit checks into the account via a mobile device
  • The Performance Savings account doesn’t have a minimum opening balance requirement
  • SoFi offers a competitive annual percentage yield on its savings account.
  • SoFi Bank’s savings account doesn’t have a monthly service fee.
    N/A
  • Some savings accounts offer slightly higher yields
  • You can’t only open a savings account at SoFi – you need to open both a checking and savings account.
    N/A
APY offering:
5.15%
5/5
Info
Minimum balance to earn interest:
$0.00
5/5
Info
Monthly service fee:
$0.00
5/5
Info
Minimum balance to avoid fee:
$0.00
5/5
Info
Access to funds:
Great
5/5
Info
APY offering:
4.60%
5/5
Info
Minimum balance to earn interest:
$0.00
5/5
Info
Monthly service fee:
$0.00
5/5
Info
Minimum balance to avoid fee:
$0.00
5/5
Info
Access to funds:
Great
5/5
Info
Info
Info
Info
Info
Info
Bankrate does not currently track additional product details for this bank.

EverBank vs. Ally Bank

You’ll get a similar experience at both EverBank and Ally Bank.

EverBank and Ally both offer just about every consumer deposit product you could think of, with high yields to boot. EverBank operates primarily online, whereas Ally is an entirely online bank. Both offer large ATM networks and often no fees for using out-of-network ATMs.

That noted, EverBank offers a few more standard CDs than Ally does, and EverBank’s CD yields tend to be higher, too. Likewise, you’ll earn higher yields when you park your money in EverBank’s savings and money market accounts.

EverBank FAQs

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.