EverBank (TIAA Bank) (5.15% APY / $0 min. deposit to open)
The EverBank Performance Savings account surpasses the national average APY, offering a competitive yield. Opening the account doesn’t mandate any minimum deposit. Notably, it includes EverBank’s Yield Pledge commitment, ensuring its APY remains among the top 5 percent of accounts, as adjusted by EverBank.
EverBank, an online institution, provides deposit accounts with competitive rates and low minimum balances, along with access to nearly 100,000 fee-free ATMs. Although the bank maintains branches, they are limited, primarily located in Florida.
Notably, EverBank was honored with the Best Savings Account award in the 2024 Bankrate Awards.
EverBank serves customers in all 50 states. Its mobile app is highly rated by both iOS and Android users.
The bank also automatically reimburses customers up to $15 a month for any fees that ATMs in the U.S. charge for access. For accounts with balances of $5,000 or more, the bank reimburses an unlimited amount of ATM fees.
Customers can send and receive funds using Zelle through EverBank online banking or the EverBank mobile app.
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.
EverBank Pros:
- EverBank offers competitive yields on Certificates of Deposit (CDs).
- Customers have access to thousands of surcharge-free ATMs.
- The bank offers a diverse range of services and products.
EverBank Cons:
- The network of full-service branches is limited.
- EverBank does not offer a no-penalty CD, which may be a drawback for some customers.
The EverBank Performance Savings account earns more than the national average APY. There’s no minimum deposit required to open the account. During Bankrate’s review, all balances were earning the same competitive yield.
EverBank Savings Account Pros:
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All balances earn a very high APY.
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There’s no monthly account fee.
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You can deposit checks via a mobile device with this account.
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EverBank doesn’t have a minimum opening balance requirement for its Performance Savings account.
EverBank Savings Account Cons:
- Some savings accounts offer slightly higher yields.
