bank rates

EverBank Cutting Most CD Rates Tomorrow

EverBank is reducing rates on most certificates of deposit tomorrow and abandoning its position as a co-leader in nationally available 36-month CDs.

This Jacksonville-based bank has more than a dozen branches across Florida and a popular online operation that accepts deposits from savers across the country.

EverBank almost always messes with a rate or two every Friday.

But it’s making some serious cuts tomorrow.

The 36-month rate is dropping almost three-tenths of a percentage point, from 1.70% APY to 1.41% APY.

EverBank had raised its return on 3-year CDs from 1.50% APY to 1.70% APY on Dec. 26.

That was good enough to tie iGObanking for the top national deal on our CD Rates Leaderboard.

Its very good 60-month rate is on the chopping block, too. That term will see a quarter of percentage point drop.

That return has been adjusted multiple times over the past month, going from 2.13% APY to 2.26% APY to 2.25% APY to, at midnight, 2.00% APY.

As of now, iGObanking, the online division of Flushing Bank, which has 17 locations in New York, will lead the 36-month term alone.

So if you still want that 1.70% APY, all is not lost.

At least not yet.

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