EverBank Performance Savings

EverBank Performance Savings is the no-strings workhorse of the high-yield savings category: a strong uncapped rate from a real full-service bank, paired with a contractual promise to stay competitive. It is the reference account for savers who want a high sustained rate without hoops, caps, tiers, or gimmicks, and who prefer to keep their money at a chartered bank rather than a fintech app or a brokerage sweep. The terms are deliberately plain. The account pays 3.90% APY on all balances for new accounts as of July 2026, with no minimum deposit, no minimum balance to earn the rate, and no monthly fee. There are no balance tiers to chase and no cap that throttles the rate once your balance grows, so the quoted yield applies to the first dollar and the last. The bank's Performance promise commits the rate to the top 5% of competitors, reviewed monthly, which is a written pledge to stay near the front of the pack rather than a teaser that fades after a few statements. On safety and access, deposits are held directly at EverBank, N.A. (formerly TIAA Bank), Member FDIC, insured up to $250,000 per depositor. This is a direct bank relationship, not a fintech program that sweeps your cash to partner banks, so the insurance path is straightforward. The account itself is a liquid savings vehicle with no lockup; an ATM card is available if you also open the optional linked checking account, which is the practical way to get cash-machine access to your funds. The honest flags matter here. First, the headline yield is explicitly an offer for new accounts, and by EverBank's own disclosure the advertised APY may not apply to existing ones. The rate you open at is not guaranteed to match what a long-tenured customer is quietly receiving, so existing holders should verify their own posted APY rather than assume the marketed number. Second, the TIAA-to-EverBank rebrand still confuses some savers who remember the account under the old TIAA Bank name; it is the same institution, now operating as EverBank, N.A. Third, some of the higher-rate versions of EverBank savings are offered through Raisin, a third-party deposit platform, rather than directly; if you chase one of those elevated rates you are adding a platform intermediary between you and the bank, which is a different relationship than the direct account described here. The verdict stays measured: strong rate, plain terms, a real FDIC-insured bank, with the main watch-items being the new-versus-existing APY gap and the Raisin distinction.