Are you looking for a safe and reliable way to grow your savings? EverBank's certificates of deposit (CDs) might just be the answer, offering a range of terms and competitive rates to suit various financial goals.

Formerly known as TIAA Bank, EverBank transitioned its name in 2023 and continues to provide a suite of banking solutions, including its popular CDs. While their yields might not always top the market, the variety of CD terms available ten different options to be exact is a significant advantage. These terms range from as short as three months to as long as five years, providing flexibility for savers with different time horizons and financial objectives. As of 05/02/2025, the annual percentage yields (APYs) are competitive, though it's always wise to compare them against other banks and credit unions to ensure you're getting the best possible return. This financial institution's CD rates start at 3.50% and rise as high as 4.15%, depending on the term length chosen.

Beyond the standard CDs, EverBank also offers specialized options like the CDARS CD account. This unique product, facilitated through the IntraFi network, allows you to access FDIC insurance coverage on up to $50 million in deposits. The funds are divided into amounts under the standard FDIC insurance maximum of $250,000 and placed into CDs at other banks within the network, providing an extra layer of security for larger deposits. This innovative approach to deposit insurance can be particularly appealing to businesses, non-profits, or individuals with substantial savings.

EverBank, primarily an online bank, also provides options for managing overdrafts. By linking two EverBank accounts, you can set up an overdraft transfer, eliminating the worry of incurring hefty overdraft fees. Additionally, EverBank offers official checks, which serve as a guarantee of funds and are often required for larger purchases. These checks are issued as official bank checks, signed by a bank representative, and provide assurance to the recipient that the funds are available.

Several features enhance the appeal of EverBank CDs. Savers have the option to withdraw interest at the opening of the CD. At maturity, the CD can automatically renew, though it's important to note that some CD terms may renew into shorter or longer terms than the original. EverBank also offers Performance CDs. To open an EverBank Performance CD, youll need at least $1,000, which is a fairly common minimum opening deposit amount for a CD.

Moreover, EverBank provides a MarketSafe CD, which ensures the security of your principal deposit. Even in the event of poor performance over the CD term, you're guaranteed to receive your upfront investment back. Conversely, if there's positive performance, you'll receive a market upside payment on top of 100% of your principal deposit.

For those exploring EverBanks broader offerings, the institution provides a range of accounts and services, including performance savings, money market accounts, and checking accounts. As of recent data, the EverBank Performance Savings account boasts a 4.00% APY on balances of $10,000 or more, while the Performance Checking account offers 0.25% APY on all balance tiers. This comprehensive suite of products aims to cater to diverse financial needs and preferences.

In conclusion, EverBank offers a range of CD options, from basic certificates to specialized accounts like CDARS and MarketSafe CDs. With terms ranging from 3 months to 5 years, interest withdrawal options at opening, and the potential for automatic renewal, EverBank CDs provide flexibility and security for savers. Whether you're building your savings with a high yield or locking in a great rate with flexible terms, EverBank aims to separate itself from banking as usual.

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