Dedicated to Deposits: Deals, Data, and Discussion

Higher CD Rates at EverBank


EverBank has made some large rate increases on its Yield Pledge CDs. It now has very competitive rates for terms of 3, 6, 9 and 12 months. The most competitive is the 3-month CD with a 4.02% APY. The minimum deposit is $1,500. The yields of all the terms are shown below:

Certificate of Deposit Rates as of 9/26/08:

Term APY
3-month 4.02%
6-month 4.23%
9-month 4.23%
1-year 4.38%

1.5-year 4.18%
2-year 3.97%
2.5-year 4.13%
3-year 4.28%
4-year 4.44%
5-year 4.54%

For more details about EverBank CDs, its other products and account opening issues, please refer to my June post on EverBank.

For those who are not already EverBank customers, EverBank's 3-month promotions on the FreeNet Checking Account and Yield Pledge Money Market Account are better deals than the 3-month CD. In this new-account promo, EverBank pays 4.65% for 3 months on either of these two accounts. The rate applies to the first $50K in the MMA and the first $100K in the checking. Note, EverBank used to advertise 4.76% APY for this bonus. I think it's the same as before, but they're just changed how it's listed. Since APY is based on the earnings for an entire year and the rate promo is only the first 3 months, the new way of reporting the rate and APY is more inline with regulations.

EverBank has been FDIC insured since 1998 (Certificate # 34775). It's one of the larger internet banks with $6.02 billion in assets. The bank has a 4 star rating (sound) at based on 6/30/08 data. This is up from 3 stars from 12/31/07 data. BauerFinancial continues to give them 3.5 stars (good) based on 6/30/08 data.

Thanks to the reader who mentioned these new CD rates in the finding the best deals post.

Related Pages: CD rates, IRA rates, EverBank

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Comment #1 by Anonymous posted on
Forget it, not worth the trouble or time wasted just to apply or fund. ACH not available or if available, it takes forever.

Be weary when you consider the good rates @ EverBank, Corus Bank, VirtualBank, Pacific Mercantile Bank