Review Of EverBank Online Savings and High Interest Checking Accounts

Published 12/26/08 (Modified 9/2/16)
By MoneyBlueBook

Since 2000, EverBank has quietly grown and emerged as a top-tier banking institution, offering a diversified array of full-service-online-banking products that include high-yield savings accounts, money market accounts, high-interest certificates of deposit (CDs), mortgage loans and, most intriguing of all, high-interest checking accounts.

EverBank has steadily grown to become one of the top online high-yield savings banks in the market. Because the online bank apparently did not dabble in toxic subprime mortgages, the company is in a much stronger position today than many of its competing rival banks.

About a year ago, I opened an Ever Bank savings and checking account for review purposes and have been generally pleased with the annual percentage yield (APY) interest rates I've received over many months.

Consistent with its marketing pledge to stay among the top 5% of savings banks in terms of interest rate, I'm pretty pleased to say that, upon examination of its past, EverBank has stayed true to its word over the last few years. Despite market fluctuations in bank interest rates, EverBank has remained one of the top banking choices for those seeking the highest FDIC-insured rates of return for their savings and investments.

This is not to say that EverBank is the absolute best online bank out there, but it certainly is one that consumers should consider when evaluating their options. At the very least, those interested in a checking account that earns a pretty high interest rate (an extreme rarity among other banks) or those interested in alternative savings options like foreign-currency-denominated CDs should take a look at EverBank and its sister discount broker firm, EverTrade Direct Brokerage.

Those weary about the safety of their money and investments after the age of failing banks need not worry. All EverBank checking, savings, high-yield savings, money market accounts, and CD deposit banking products are fully protected by FDIC insurance coverage up to the full $250,000 limit.

Extra Information and Resource

• EverBank ABA/Routing Number for direct deposits and ACH transfers: 063092110