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Savings Account Rate Deal for May 9, 2013: EverBank

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EverBank is standing out from the typical banking crowd with a 6-month introductory savings account rate of 1.25 percent, which converts to a permanent rate of 1 percent afterwards, at least according to the advertising currently listing the offer on Bankrate.com. With the average savings rate for most banks is less than 0.75 percent, EverBank's offering is already standing out as an attractive difference in the intro period as well as for the rest of the year.

EverBank was established in the 1960s and is currently headquartered in Jacksonville, Florida. Today the institution holds $18 billion in assets, having realized significant growth since 2009. The company currently operates in consumer banking, retail and commercial banking, international banking, and financial advising services. EverBank also provides loan and investment resources as well, with more offices in other states concentrated on producing home loans to borrowers. Most of its physical banking offices, however, are located in the state of Florida.

There is a minimum deposit required to open a savings account, requiring new customers to pony up a minimum of $1,500 to get started. This temporary deal is good for any depositor with liquid cash to deposit up to $50,000.

Good savings account rates are hard to find, especially for customers who need to keep their savings liquid but don't want inflation to keep taking a big bite out of it. While EverBank's offer isn't a pot of gold, it doesn't pay a bit more than anyone else at the moment.

Click here to compare savings rates!

About Paul Knag

Paul Knag is a former executive for American Home Mortgage and founder of online lender MortgageSelect.com. He founded RateZip.com in 2007. Paul lives in New York with his wife and children.


1 reply to “Savings Account Rate Deal for May 9, 2013: EverBank

  1. EverBank May 23, 2013

    Hi Paul,

    Thanks for the post, we appreciate the mention. Just wanted to mention that our permanent rate after the 6-month bonus is subject to change based on market fluctuations. Our Yield Pledge promises to keep the yield on your account in the top 5% of Competitive Accounts as measured the last Wednesday of each month in Bankrate Monitor’s National Index, a weekly national survey of rate information surveyed by Bankrate.com.

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