EverBank Performance Savings review

EverBank Performance Savings posts the highest rate in this comparison: new accounts earn 4.20% APY on all balances, with no tier to reach and no minimum balance. It costs $0 to open, there is a $0 monthly maintenance fee and a $0 mobile check deposit fee, and interest compounds daily. EverBank compares that rate with a 0.38% national average for a $2,500 balance. The catch is in the fine print: the posted APY is for new accounts only and may not apply to existing accounts, and the rate is variable. Coverage is the standard FDIC limit of $250K per depositor for each account ownership category, so savers with larger balances get more protection from Wealthfront or Betterment. The account is available only online and by phone. If you want the top rate for new money and are comfortable checking that existing-account rates keep pace, EverBank is the strongest pure-rate pick.

Who it is for

new customers chasing the highest posted rate

Price

$0 monthly maintenance fee, $0 to open; 4.20% APY for new accounts.

$0 Monthly maintenance fee $0 Mobile check deposit fee
Quoted from the vendor pricing page on November 13, 2026.

Key features

• New accounts earn 4.20% APY on all balances
• $0 to open and no minimum balance required
• $0 monthly maintenance fee and $0 mobile check deposit fee
• Interest compounded daily
• FDIC insured up to the standard $250K per depositor for each ownership category

Strengths and weaknesses

• Strength: Highest posted APY on this list at 4.20%
• Strength: Rate applies to all balances, with no tier
• Strength: Earns interest no matter the balance
• Weakness: The 4.20% APY is for new accounts and may not apply to existing ones
• Weakness: Available only online and by phone, with no branches
• Weakness: Standard $250K FDIC coverage, far below Wealthfront and Betterment

Key facts

• APY: 4.20% for new accounts
• Monthly fee: $0
• To open: $0
• FDIC coverage: $250K per depositor, per ownership category

Where it ranks

EverBank Performance Savings is No. 2 in our Best High-Yield Savings Accounts verdict and No. 1 in Best Savings Accounts.