EverBank, formerly known as TIAA Bank, changed its name in July 2023 following the sale of a majority stake to private investors. While you can bank online, all of its branch locations and its NFL stadium, home of the Jacksonville Jaguars, are in Florida. Not to worry if you’re not near a branch location because customers can access more than 100,000 fee-free ATMs.

Our review details personal banking options offered by EverBank. All rates and fees are current as of March 1, 2024, and are subject to change. 


Checking accounts Starting at $0 per month
Savings accounts: Open with as little as $0
Certificate of deposit (CD): Earn up to 5.25% annual percentage yield (APY)

EverBank rates and products

EverBank offers a variety of deposit products with attractive APYs, including checking, savings, money markets, and CDs. 

Checking accounts 

No matter your balance, a Yield Pledge checking account will earn you 0.45% APY. These have a minimum opening deposit of $100. Its standard checking account, EverBank Checking, requires only $25 to open. With a standard checking account, you won’t earn any interest, though. 

Like most free checking accounts, it doesn’t offer a checking account bonus. If that’s important to you, look into other free checking account options and their promotions. 

EverBank checking account features
Account opening bonus None
Minimum opening deposit $25 for standard checking; $100 for high-yield checking
Monthly fees None
Top APY 0.45% on high-yield checking
Last updated: March 1, 2024

Savings accounts

EverBank’s high-yield savings account is called EverBank Performance Savings. It offers an attractive 5.15% APY no matter your balance, no monthly fees, minimum balances, or minimum opening deposits required. 

Read this primer on high-yield savings accounts to understand better what to expect from yours.

EverBank savings account features
Minimum opening deposit $0
Monthly fees None
Top APY 5.15%
Last updated: March 1, 2024

EverBank savings rates compared to current top rates*

Although EverBank is an attractive choice, there are banking institutions with higher interest rates. For comparison, see the rates from these competitors:


A CD holds your money in a savings account, earning you a specific interest for a specific term length. If you take your money out before that term is up, you’ll almost always pay an early withdrawal penalty. EverBank requires a $1,000 minimum deposit and offers term lengths up to five years. 

EverBank CD features
Minimum opening deposit $1,000
Available term lengths 3 months to 5 years
Top APY 5.25% APY 9-month term
Last updated: March 1, 2024

EverBank CD rates

Term length APY
3-month CD 3.95%
6-month CD 4.00%
9-month CD 5.25%
1-year CD 4.90%
2-year CD 4.50%
3-year CD 4.20%
Last updated: March 1, 2024

Money market accounts (MMAs) 

An MMA often provides the liquidity you want with a checking account but offers the yields of a savings account. Think of it like a hybrid. With EverBank’s MMA, you get 4.75% APY for your first year and then a tiered APY that’s still competitive after that. 

EverBank MMA features
Minimum opening deposit $0
Monthly fees $0
Top APY 4.75%
Last updated: March 1, 2024

Other services EverBank offers 

  • Credit card: EverBank offers just one credit card, earning rewards and carrying an annual percentage rate (APR) of 15.25% to 29.00%.
  • Investment accounts: Through its Diversified Investing account, you can invest in precious metals, foreign currencies, and Marketsafe CDs. It’s important to note these are not Federal Deposit Insurance Corp. (FDIC)-insured and require deposits from $100 per month to $20,000 as a one-time deposit.

Online banking

With branch locations only offered in Florida, EverBank must create an incentive for customers to use its banking services elsewhere. It does this by offering online banking, which is also offered by some of the best online banks and credit unions. Its mobile app is currently still serviced by TIAA. 

The EverBank platform and customer support 

Its phone hours are Monday through Friday from 8 a.m. to 8 p.m. Eastern time and Saturday from 9 a.m. to 7 p.m. ET. If you need to speak with an agent because of a lost or stolen debit or credit card, it has a dedicated team available 24/7.  

Its Diversified Investing hours differ slightly. These are Monday through Thursday from 8:30 a.m. to 5:30 p.m. ET and Friday 8:30 a.m. to 4 p.m. ET.

While customers have access to their account via a mobile app, the app is still serviced by TIAA. 

Is EverBank secure?

Although EverBank, under its current name, has not experienced any breaches in its brief history, its predecessor, TIAA, was involved in the MOVEit data breach, impacting 2.6 million users with leaked Social Security numbers. Whether this incident served as a catalyst for its sale and subsequent rebranding to EverBank is yet to be determined.

EverBank user reviews

With such a brand-new transition, there is very little in the way of consumer reviews about EverBank. Reddit users all seem to be asking, is this too good to be true? One user mentioned finding reviews where EverBank froze a user’s account for months with little in the way of resolution, although we were unable to verify this claim. Another Reddit user says they’ve faced delays in receiving their debit card during the TIAA transition and encountered restrictions in linking their outside business account for automated clearing house (ACH) transfers.

Compare EverBank alternatives

EverBank SoFi Chase Bank Ally
Standard checking account bonus None $300 $300 $0
Top CD APY 5.25% N/A 5.00% 4.75%
Online banking Yes Yes Yes Yes
Learn more Read SoFi review Read Ally review
Last updated: March 1, 2024

Is EverBank right for you?

EverBank is ideal if you’re looking for a high-yield checking account, savings account, or CD and online banking. However, if you want to keep all your transactions in-house, such as mortgages, insurance, and brokerage accounts, you’re better off finding an alternative. EverBank is still in a transitional period where it’s finding its footing and may offer more features in the future. 

Frequently asked questions

Did EverBank merge with TIAA?

No, TIAA first acquired EverBank in 2017 and renamed it to TIAA Bank. In 2023, it sold its TIAA Bank portion to private investors. TIAA is keeping its retirement accounts, and the bank portion operates under its own charter as EverBank.

Is EverBank FDIC-insured?

Yes, EverBank is FDIC-insured, allowing for insurance coverage of $250,000 per depositor per institution.

Does Everbank still exist?

Yes. In 2017, TIAA acquired EverBank, and in August 2023, it sold TIAA Bank to private investors. It now operates under a new bank charter as EverBank, N.A.

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