EverBank's CD Rates and Financial Information
EverBank Main Address and Contact Information
501 Riverside Avenue
Jacksonville, Florida 32202
EverBank FDIC Certification Number
Rating: (3 out of 5)100
EverBank Jumbo CD Rates
Rates Updated: 09/18/2017
Articles Related to EverBank
CD Rates Continue to Move Higher in September
Keeping with the uptrend in 2017, CD rates continue to move higher in September. In August, the top 1 year CD rate was at 1.55 percent, this month the top 1 year CD rate is at 1.60 percent. Popular Direct, EverBank, and Pacific National Bank are all offering 1 year CD rates at 1.59 percent with a yield of 1.60 percent.
At the beginning of the year, the top 1 year rate was only at 1.35 percent, 25 basis points lower than the current rate. Shorter term CD rates moved higher this year because the Federal Reserve has been increasing the fed funds rate, the rate banks use to lend each other money overnight. These rate increases have put upward pressure on short term interest rates and bond yields.
CD rates with terms shorter than 1 year are also moving higher. The top 3 month CD rate is week is from Luana Savings Bank at 1.05 percent. Last month, the top 3 month CD rate was at 1.00 percent. The top 6 month CD rate this month is at 1.26% from M.Y. Safra Bank, FSB. In August, the top 6 month rate was at 1.21 percent.
CD Yield Curve Flattening
As short term CD rates move higher, longer term rates have been stagnant, increasing a lot less than short term rates, which is flattening the yield curve. The top 2 year CD rate is at 1.71 percent, only 11 basis points higher than the top 1 year rate.
Looking at longer term certificates of deposit, rates are only marginally higher. The top 3 year rate is at 2.00 percent, the top 4 year rate is at 2.16 percent, and the top 5 year rate is at 2.40 percent. The CD yield curve will continue to be flat in the coming years, even if short term rates are pushed higher.Read more...
Top 2 Year CD Rate Now at 1.70 Percent
The top CD rates continue to move higher as the best 2 year CD rate hits 1.70 percent this week. 2 year CD rates at Connexus Credit Union take the top spot this week at 1.69 percent with a yield of 1.70 percent. Connexus has the best rate this week but two banks are right on the credit union's tail.
Northern Bank Direct, EverBank, and Popular Direct have the second best 2 year rate this week at 1.64 percent with a yield of 1.65 percent. We have another three-way tie for third place, My e-BAnC by BAC Florida Bank, TAB Bank, and VirtualBank all have a current 2 year rate of 1.61 percent with a yield of 1.62 percent.
Not only are the top rates moving higher this week, average 2 year CD rates are also higher. The current average 2 year CD rate is at 1.50 percent, up from last week's average 2 year rate of 1.47 percent. Listed below are the top ten 2 year CD rates for the week ending April 15, 2017.
Best 2 Year CD Rates
CD Rates Report: 1 Year CD Rates as of January 14, 2017
Listed below is a current CD rates report for 1 year certificates of deposit as of January 14, 2017.
Current 1 Year CD Rates
For a list of today's 1 year CD rates in our database go to MontiorBankRates.com.Read more...
Fed Increases Fed Funds Rate, Banks Yet to Increase Deposit Rates
Another Fed meeting came and went last week with one major difference. The Federal Open Market Committee increased the fed funds rate 25 basis points. This is only the second increase in the past decade. The new target range for the fed funds is 0.50 percent to 0.75 percent.
The rate increase was announced a few days ago and as of this morning, none of the financial institutions in our database increased their rates. There is hope for higher rates, maybe not with this fed rate increase but with future increases.
If rates do move higher we will quickly announce any increases from banks or credit unions.
In additional to increasing the rate this time around, the Fed did something it never has done before. The Fed announced there will likely be three rate increases in 2017 and possibly more if needed. This was a surprise not only because the announcement was made prior to this meeting but also because only one rate increase was expected in 2017.
Three fed funds rate increases in 2017 will likely entice banks and credit unions to increase their deposit rates. Three rate increases will put the top savings rates and money market rates near 2.00 percent.
The current top savings account rate in our database is from Popular Direct at 1.14 percent with a yield of 1.15 percent. The current top money market account rate is at 1.10 percent with a yield of 1.11 percent from EverBank (6 month promo rate/yield).
You can always get a current list of the best savings rates and money market rates by reaching our rate database at Variable Deposit Rates.Read more...
CD Rates Slowly Inch Higher as Fed Meets This Week
CD rates are slowly inching higher and will continue to move higher in the coming months. A more immediate impact that will force CD rates higher is the Federal Open Market Committee increasing rates. The FOMC meets this week to decide on monetary policy and is widely expected to increase the fed funds rate by 25 basis points.
The CME Group's FedWatch Tool has a 97.2 percent probability that the Fed will increase the rate to a range of 0.50 percent to 0.75 percent. The last time the Fed increase the rate was December 2015 when the rate was increased to a range of 0.25 percent to 0.50 percent.
Several banks already increased CD rates on short term certificates of deposit recently, likely in anticipation of a Fed rate hike. The highest CD rates on 1 year certificates of deposit are approaching 1.50 percent and may hit 1.50 percent after the expected rate hike.
Currently, the best 1 year CD rates on our rate list are from Pentagon Federal Credit Union at 1.35 percent with a yield of 1.36 percent. The best 1 year rate offered on our list of from a bank is from VirtualBank at 1.30 percent with a yield of 1.31 percent.
The highest 2 year CD rates on the list are already above 1.50 percent. Two banks, EverBank and Virtual Bank are offering 2 year CD rates at 1.51 percent with a yield of 1.52 percent. We could see the top 2 year rates increase above 1.60 percent in the coming weeks.
At what pace CD rates rise in the coming year will be mostly dependent on how much and how quickly the Fed increases the fed funds rate. As of this morning, the FedWatch Tool has a probability of one rate hike in 2017, putting the rate between 0.75 percent and 1.00 percent.
The Fed's own projections for the fed funds rate for 2017 is all over the place. Advance projections for this week's meeting put the rate between 1.875 percent and 3.375 percent with the majority between 1.875 percent and 2.625 percent.
The Fed's own projections are a lot higher than the FedWatch Tool, which is the market’s view on where the fed funds rate will be by the end of 2017. Unless there is a recession next year, CD rates will finally be moving higher.Read more...
Highest Deposit Rates November 27, 2016
Variable deposit rates continue to inch slowly higher this week. The best savings rate available is at 1.25 percent with a yield of 1.26 percent. The best money market account rate available is slightly lower at 1.24 percent with a yield of 1.25 percent.
Listed below are the best savings rates and money market rates available in our database for November 27, 2016.
Best Savings Rates
Best Money Market Account Rates
EverBank CD Rates Rise Again
EverBank CD rates, which are changed at least twice a month, were increased this week. This time CD rates at EverBank were increased for both short term and long term certificates of deposit. The last time their CD rates were changed was just over a week ago on October 7, 2016.
The largest CD rate increase was on 5 year certificates of deposit which were increased 9 basis points. 5 year CD rates were increased from 1.79 percent with a yield of 1.81 percent to 1.87 percent with a yield of 1.89 percent. With this rate increase, EverBank is now at 4th place on our 5 year CD rate list.
EverBank CD Rate Changes
Best Variable Deposit Rates October 12, 2016
Variable deposit rates have been slowly creeping up for the past several months. The interest rate increases have been small; in increments of less than 10 basis points for the most part. Even with the small increases, the best variable deposit rates are almost comparable to best the 1 year CD rates.
The best savings rate on our rate database is at 1.25 percent with an APY of 1.26 percent from Popular Direct. This savings rate is only 4 basis points lower than the top 1 year CD rate in our database at 1.29 percent with a yield of 1.30 percent. The highest money market yield on our list is 5 basis point lower at 1.24 percent with a yield of 1.25 percent.
Listed below are today's current highest savings rates and money market rates
Highest Savings Rates
Highest Money Market Rates
To view a current list of savings account rates and money market account rates search our database at SavingsAccount.MonitorBankRates.com.Read more...
This Past Week's CD Rate Changes
Eight banks and one credit union in our database changed some of their CD rates this past week. Most of the CD rate changes were higher, which was nice to see. EverBank CD rates were changed more than once this past week, the most recent changes are at the top of the rate list below.
There is some good news regarding bank CD rates possibly moving higher in the near future. Despite September's employment numbers being slightly weaker than expected, CNBC reported the probability of a fed rate hike moved higher this morning. CNBC is basing their report on the CME Group's FedWatch Tool. The tool is used to track the market's expectation of a rate hike. Before the employment report, the probability of a December rate hike was at 63.9 percent. After Friday's report was released, it moved up to 70.2 percent.
If there is a December rate hike, it will most likely be 25 basis points. This hike might entice banks to increase their short term and intermediate term CD rates. If there is a rate hike, we won't see all banks and credit union increase their CD rates. It's likely that some online banks with the highest current CD rates will increase their rates.
The best CD rates on our 1 year certificates of deposit rate list are currently at 1.30 percent. A 0.25 percent fed fund rate hike might send the best 1 year rates towards 1.50 percent. It's been several years since we've seen 1 year rates as high as 1.50 percent.
This past week's CD rate changes are listed below.
Most CD Rate Changes This Past Week Were Higher
Four banks and one credit union changed their CD rates this past week. The good news is most of the CD rate changes were higher, despite the fact that the Fed didn't increase the fed funds rate. 24 CD rate changes were made last week and only two CD rates were lowered, both from Connexus Credit Union.
You can see how the CD rates listed below compare with other rates available by searching our database of CD rates at MonitorBankRates.com.
Compare EverBank's CD Rates With Other Bank Rates Below