Everbank vs Santander Bank
High-Yield Savings Accounts Comparison
Last Updated: September 5, 2025
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Summary of EverBank vs. Santander Bank
As of September 5, 2025 EverBank offers an APY of 4.30% for its Performance Savings account, with a minimum balance of $0, compared to Santander Bank's 0.03% APY for its Santander Savings account, with a minimum balance of $0.
EverBank yields $427 more than Santander Bank on a $10,000 balance after one year. EverBank pays $430, while Santander Bank pays $3 - an APY advantage for EverBank.
EverBank
Strengths
- EverBank offers a high APY of 4.30%, significantly higher than Santander Bank's rate.
- No maintenance fees for the Performance Savings account at EverBank.
- EverBank has no minimum deposit requirement for opening the account.
Potential Drawbacks
- EverBank has a low App Store rating of 2.3 and Google Play rating of 2.6.
- Only has 11 branches located in Florida and California.
- Not BBB Accredited despite an A+ rating.
Santander Bank
Strengths
- Santander Bank has a high App Store rating of 4.8 and Google Play rating of 4.3.
- Wider branch availability primarily in the Northeast and Miami, Florida.
- Offers a savings account with a low minimum deposit of $25.
Potential Drawbacks
- Santander Bank's APY is only 0.03%, much lower than EverBank's offering.
- Has a $1 maintenance fee for the Santander Savings account.
- Not BBB Accredited with a lower A- rating.
Summary: EverBank's Performance Savings account provides a much higher APY of 4.30% compared to Santander Bank's 0.03%. While EverBank has no maintenance fees, it has a limited branch presence and lower app ratings. Conversely, Santander Bank boasts higher app ratings and a broader branch network but charges a maintenance fee and offers a significantly lower APY. Both banks are not BBB Accredited, but EverBank has a better BBB rating.
Compare EverBank's vs Santander Bank's Savings Accounts
| EverBank | Santander Bank | ||
|---|---|---|---|
| Product | Performance Savings | vs | Santander Savings |
| APY | 4.30% (as of 9/5/2025) | 0.03% (as of 9/5/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | No | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $25 | |
| Minimum Balance for APY | $0 | $0 | |
| Maintenance Fee | $0 | $1 | |
| Direct Deposit Required | No | No | |
| App Store Rating | 2.3/5 | 4.8/5 | |
| Google Play Rating | 2.6/5 | 4.3/5 | |
| BBB Rating | A+ | A- |
Comparative Historical APY Insights (Last 7 Months)
| EverBank | Santander Bank | ||
|---|---|---|---|
| Product | Performance Savings | vs | Santander Savings |
| Latest APY | 4.30 % | 0.03 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | 0.0 | 0.0 | |
| Rate Changes / Mo | 0.00 | 0.00 | |
| Days Since Last Change | 226 | 226 | |
| High (-7 m) | 4.30 % | 0.03 % | |
| Low (-7 m) | 4.30 % | 0.03 % | |
| Draw-down from High | 0.0 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 7 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-7 m)
- Highest APY in the last 226 days.
- Low (-7 m)
- Lowest APY in the last 226 days.
- Draw-down from High
- How far today sits below the 7-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Calculate Savings Growth for EverBank vs Santander Bank
All calculations are based on APY.
EverBank
APY: 4.30%
Total savings breakdown:
- Interest earned: $2,629.4 (12.75%)
- Total contributions: $13,000 (63.02%)
- Initial deposit: $5,000 (24.24%)
Your total balance
$20,629.40
Effective APY: 4.30% (based on your deposit and contributions)
Total balance: $20,629.4
Earnings: $2,629.4
Bank OverviewSantander Bank
APY: 0.03%
Total savings breakdown:
- Interest earned: $17.2 (0.10%)
- Total contributions: $13,000 (72.15%)
- Initial deposit: $5,000 (27.75%)
Your total balance
$18,017.20
Effective APY: 0.03% (based on your deposit and contributions)
Total balance: $18,017.2
Earnings: $17.2
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, EverBank's total earnings would be $2,612.2 higher than Santander Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare EverBank's APY of 4.30% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| EverBank vs Ally Bank | 3.50% | $0 |
| EverBank vs American Express | 3.50% | $0 |
| EverBank vs Axos Bank | 4.46% | $0 |
| EverBank vs Bank of America | 0.01% | $100 |
| EverBank vs Barclays | 4.10% | $0 |
| EverBank vs BrioDirect | 4.30% | $5,000 |
| EverBank vs Capital One | 3.50% | $0 |
| EverBank vs Chase Bank | 0.01% | $0 |
| EverBank vs Chime | 3.75% | $0 |
| EverBank vs CIT Bank | 4.00% | $100 |
| EverBank vs Discover Bank | 3.50% | $0 |
| EverBank vs Elevault | 4.60% | $0 |
| EverBank vs Fitness Bank | 4.75% | $100 |
| EverBank vs FVCbank | 4.35% | $500 |
| EverBank vs GO2bank | 4.50% | $0 |
| EverBank vs Marcus by Goldman Sachs | 3.65% | $0 |
| EverBank vs Neighbors Bank | 4.60% | $0 |
| EverBank vs Newtek Bank | 4.35% | $0 |
| EverBank vs Peak Bank | 4.35% | $100 |
| EverBank vs Pibank | 4.60% | $0 |
| EverBank vs Presidential Bank | 4.50% | $5,000 |
| EverBank vs SoFi Bank | 3.80% | $0 |
| EverBank vs Synchrony Bank | 3.80% | $0 |
| EverBank vs TIMBR | 4.40% | $1,000 |
| EverBank vs UFB Direct | 4.21% | $5000 |
| EverBank vs Varo Bank | 5.00% | $0 |
| EverBank vs Wells Fargo | 2.51% | $25 |
| EverBank vs Zynlo Bank | 4.35% | $10 |