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EverBank CD rates review

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EverBank Basic CDs
Finder score
1-year APY
3-year APY
5-year APY

Our verdict

Offers competitive APYs, but watch out for the high opening deposit.

EverBank offers a healthy range of CD terms, all competitive with some of the top performers on the market. What's more, the bank also offers a Bump Rate CD at a 3.5 year term. If EverBank raises their APYs during this period, you can request a one-time rate bump to the new rate. This is a handy feature to have in times where the economy is in flux and rates can change several times over a period of months.

As is the case with most CDs, the best rates are reserved for those willing to open a CD for two years or longer. But even the shorter terms offer a strong APY and make EverBank CDs well worth a look for your investing needs.

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EverBank, previously named TIAA, is a full-service community and online bank that offers basic and bump rate CDs.

How do I open EverBank CD?

Open an EverBank CD in eight steps:

  1. Go to the provider’s site and follow the steps to apply.
  2. Click Open an account from the EverBank website.
  3. Select the type of account you want to open and click Start application.
  4. Enter the account details, such as the amount you want to invest and the CD term. Click Continue.
  5. Enter your personal information and create a personal security code. Click Continue.
  6. Review your information and click Continue to verify.
  7. Read and accept the bank disclosures and click Continue.
  8. Enter your funding details and submit your application.


You must meet the following requirements to apply for a CD:

  • At least 18 years old
  • US citizen or resident
  • $1,000 or $1,500 minimum deposit, depending on the CD

Required information

Have the following information ready before you apply to open your CD:

  • Social Security number
  • Date of birth
  • Home address
  • Email
  • Employment information

Funding options

Fund your CD using one of the following methods:

  • Mail in a check
  • Make an internal transfer from your EverBank account
  • Initiate a wire transfer
  • ACH bank transfer

3 benefits of a EverBank CD

Your EverBank CD account comes with the following perks:

  1. Member of CDARS. If you want to invest more than $250,000 in CDs, the Certificate of Deposit Account Registry Service breaks your funds up among several banks in the network, so that none of your CDs goes over the $250,000 FDIC insurance limit.
  2. Multiple term options. EverBank offers 11 term options ranging from three months to five years on high-yield CDs. All of these term APYs are quite competitive and among the highest on the market.
  3. Bump rate CD available. EverBank also offers a 3.5-year bump rate CD that requires just $1,500 to open. If EverBank‘s bump rate CD APY increases during the length of your term, you can request a one-time rate bump by contacting EverBank. This CD automatically renews upon maturity and are eligible to be funded as an IRA CD.

Potential drawbacks of a EverBank CD

Keep the following in mind before you commit to a EverBank CD:

  1. No Yield Pledge CDs. EverBank‘s Yield Pledge CD, which offered high rates, no longer exists. But it’s current CDs are still competitive.

Compare with other CDs

Select up to 4 CDs and click “Compare” to see how they stack up by rates.

Name Product 6-month APY 1-year APY 5-year APY Minimum deposit to open
Crescent Bank CDs
Finder Rating: 4.8 / 5: ★★★★★
Crescent Bank CDs
Earn competitive rates up to 4.90% APY (annual percentage yield) on terms ranging from 1 to 5 years. Pay $0 maintenance fees. Member FDIC.
Alliant Credit Union CDs
Finder Rating: 4.8 / 5: ★★★★★
Alliant Credit Union CDs
Lock in rates as high as 5.15% APY with a low $1,000 minimum deposit. Compounded monthly. FDIC insured.
Western Alliance Bank 12 months CDs through Raisin
Finder Rating: 4.7 / 5: ★★★★★
Western Alliance Bank 12 months CDs through Raisin
Get 5.05% APY on a 12 month CD, and earn an APY that’s higher than the national average. Pay no fees and just a $1 minimum deposit. FDIC insured.
Valley Direct Online CD
Finder Rating: 5 / 5: ★★★★★
Valley Direct Online CD
Earn 4.50% APY on a 12 month CD. FDIC insured per depositor, per account ownership category.
Quontic Bank CDs
Finder Rating: 5 / 5: ★★★★★
Quontic Bank CDs
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less. Member FDIC.
Ponce Bank CD through Raisin
Finder Rating: 4.9 / 5: ★★★★★
Ponce Bank CD through Raisin
Snag the highest APYs on the market for the shortest CD terms via Raisin. FDIC insured.

EverBank CDs reviews and complaints

There isn’t much recent mention of EverBank CDs on social media. EverBank is not accredited with the Better Business Bureau though it is currently rated A+. The bank receives a 3.5 out of 5 customer rating on Trustpilot, though the number of reviews are few.

How do I cash in a CD?

When your CD matures you have a 10-day grace period to choose from one of the following options:

  • Do nothing. If you don’t touch your CD, it will automatically renew for the same term but with an updated interest rate.
  • Rollover request. If you’re part of the CDARS network, your CD won’t automatically renew. Call 877-790-8967 on weekdays from 8 a.m. to 9 p.m. ET for a rollover request.
  • Partial withdrawal. As long as you leave the appropriate minimum balance in your account, you can withdraw as much of the remaining funds as you’d like within the 10-day grace period with no penalty.
  • Close your account. If you withdraw all of the funds from your account, your CD will close.

How do I enroll in the CDARS network?

To sign up for CDARS follow the steps below:

  1. Call 888-882-3837 to speak with customer service.
  2. Sign the CDARS Deposit Placement Agreement, which includes additional information on the requirements and limitations of the program.

You’ll need to provide the following information as part of your request:

  1. Full name
  2. Last four digits of your Social Security number
  3. CD maturity date
  4. Security code, if you mail or fax your request

CDs ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We rate CDs and share certificates on a scale ranging from one to five stars based on what matters most to you. We consider two factors equally when rating CDs: minimum deposits and annual percentage yields (APYs) relative to term length. If a bank requires a different minimum opening deposit depending on the chosen term, we rate the CD based on the average minimum deposit across all terms. And although some institutions offer CDs with terms ranging from one week to 20 years, we only consider term lengths the FDIC uses in its monthly updates on national rates.

Read the full methodology of how we rate CDs.

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Heather Finder

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