EverBank Review 2024
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At a glance
Best savings account
CDs
Checking
Savings
MMA
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
- High APY
- ATM Fee Refunds
- Low Fees
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
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
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EverBank offers competitive yields on its savings account and certificates of deposit (CDs).
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The bank provides access to thousands of surcharge-free ATMs.
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It offers a variety of services and products.
Cons
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EverBank has a limited network of full-service branches.
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It doesn’t offer a no-penalty CD.
We want to know what you think about EverBank
Do you have experience with EverBank? Let us know your thoughts.
EverBank banking products
APY last updated between 10/31 and 11/6.
EverBank savings overview
Pros
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The account earns a highly competitive APY.
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There’s no monthly maintenance fee.
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You can deposit checks into the account via a mobile device.
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The Performance℠ Savings account doesn’t have a minimum opening balance requirement.
Cons
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Some savings accounts offer slightly higher yields.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
EverBankAPYAPY last updated between 10/31 and 11/6.APYAPY last updated between 10/31 and 11/6.National average APYHow do we get this data?Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.
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.
Bankrate staff insights
“My spouse and I previously had our savings in an account earning just 0.25 percent APY,” said a Bankrate staff member who uses EverBank personally. “But we want that money to be earning money for us, instead of sitting there losing value due to inflation. We chose EverBank's Performance Savings account for its impressive APY and lack of fees.”
Disclosure: To enhance our product reviews, Bankrate employees often open accounts and provide feedback. They may have been compensated for their time and account maintenance, but this does not affect the integrity of their review.
The above images were last updated on June 5, 2024.
About EverBank
TIAA Bank now operates as EverBank. 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 Oct. 31, 2024 and Nov. 6, 2024.
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Selected bank
EverBank savings account
Bankrate score
5.0
Bankrate Savings rating = 5.0/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Most comparable
Ally Bank savings account
Bankrate score
4.9
Bankrate Savings rating = 4.9/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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Bankrate score
Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Oct. 31, 2024 and Nov. 6, 2024.
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| 5.05% | 4.00% | |
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Minimum balance for APY
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| $0.00 | $0.00 | |
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Estimated earnings
Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
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| $2,525 | $2,000 | |
| The EverBank Performance℠ Savings account earns a competitive yield on all balances. The account comes without monthly fees or minimum balance requirements. There is also no minimum opening requirement, making the account highly accessible to everyone. | Ally Bank consistently offers a competitive yield on its Online Savings Account. The online bank doesn’t have the absolute highest yield, but it offers a competitive one and doesn’t have a minimum balance requirement or a monthly service fee. The bank offers mobile deposit, but you’ll need to transfer money to the Ally checking account or money market account if you want to access money in your savings from an ATM. | |
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APY offering:
5.05%
5/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$0.00
5/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Great
5/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
|
APY offering:
4.00%
5/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$0.00
5/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Good
4/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
|
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
The lowest deposit amount an account must have before it can earn interest.
A monthly charge a financial institution deducts from an account if certain requirements are not met.
The lowest balance an account must maintain in order to avoid a fee.
A procedure that allows an individual or organization to access and manage the funds of another account holder.
Bankrate does not currently track additional product details for this bank.
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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
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.
EverBank customer reviews
EverBank has 23 reviews
Dive into community reviews below and see what others think about EverBank.
In July 2024, Bankrate collaborated with a third-party vendor to survey 1,200 bank account holders nationwide. Bankrate and our vendor collected and summarized account holder responses to five rating questions on a 5-point scale as well as open-ended reviews of the banking experience. Responses are based on individual account holder product details, and therefore cannot be verified for accuracy. Reviewers received an incentive for their feedback. Their ratings are unedited and have not been reviewed or approved by the associated bank or credit union, nor do these responses reflect Bankrate's own expert review of these banking products.
Community Reviews
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