EverBank vs. Wells Fargo
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | EverBankPerformance Savings Jan 21, 2026 | Wells FargoPlatinum Savings Jan 21, 2026 |
|---|---|---|
| APY | 3.90% | 0.05% |
Est. Earnings | $5,000+$195 $10,000+$390 $25,000+$975 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $0 | $25 |
Snapshot view. Rates subject to change. | ||
Terms | - | This is a tiered savings account where rates vary based on the balance. The 0.05% APY is available for balances of $1,000,000 or more, and 0.05% APY up to $99,999.99. These APYs require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking Bundle |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing EverBank vs. Wells Fargo
As of EverBank offers an APY of 3.90% for its Performance Savings account, with a minimum balance of $0, compared to Wells Fargo's 0.05% APY for its Platinum Savings account, with a minimum balance of $1,000,000.
EverBank pays $385 more than Wells Fargo on a $10,000 balance after one year. EverBank pays $390, while Wells Fargo pays $5 - an APY advantage for EverBank.
In addition, Wells Fargo also offers 0.01% APY for the Way2Save Savings account, with a minimum balance of $0.
Why EverBank?
- ✓Higher potential APY (3.90% vs 0.01%-0.05%) on all balances
- ✓No checking account or direct deposit required
Why Wells Fargo?
- ✓Offers 2 different high-yield savings options
— Key Feature Differences —
Better Returns at $10,000
EverBankEverBank's Performance Savings earns more on smaller deposits (approx. $390 vs $5/yr).
Better Returns at $25,000
EverBankEverBank's Performance Savings pulls ahead with larger amounts (approx. $975 vs $13/yr).
Best for Simplicity
EverBankEverBank's Performance Savings offers 3.90% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, EverBank's Performance Savings pays $385 more interest on a $10,000 balance than Wells Fargo's Platinum Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
EverBank offers a competitive Performance Savings account with an APY of 3.90%, providing better returns compared to Wells Fargo's Way2Save Savings, which yields only 0.01%. EverBank's account has no minimum deposit or maintenance fees, and it does not require direct deposit, making it a straightforward option for savers. In contrast, Wells Fargo's accounts, including the Platinum Savings, have significantly lower APYs and may require linking to a checking account for optimal rates. Overall, EverBank is the clear winner for those seeking higher interest rates on savings.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Top Market Contenders
EverBank vs. Wells Fargo Savings Calculator
You earn $385 more with EverBank than Wells Fargo on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
EverBank
Performance Savings
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
Wells Fargo
Platinum Savings
Higher APY requires $1,000,000
Savings Breakdown
- Interest Earned+$5.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,005.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | EverBank | Wells Fargo |
|---|---|---|
| APY | 3.90% Verified: 1/21/2026 ↘︎ 0.15%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 1/21/2026 Stable (90d) |
| Product Name | Performance Savings | Platinum Savings |
| Minimum Deposit | $0 | $25 |
| Min. Balance for APY | $0 | $1,000,000 |
| Monthly Fee | $0 | $12. Waived with $3,500 minimum daily balance. |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS4.7 Android4.8 | iOS4.9 Android4.8 |
| Zelle® Support | Available Native integration verified. | Available Limit: $3,500/dayFounding member; zero fees to replace wires. |
| BBB Rating | A+ | D- |
| Important Notes | - | This is a tiered savings account where rates vary based on the balance. The 0.05% APY is available for balances of $1,000,000 or more, and 0.05% APY up to $99,999.99. These APYs require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details. |
| Next Steps | Visit SiteVerify at EverBank Non-sponsored link to official site | Visit SiteVerify at Wells Fargo Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | EverBank | Wells Fargo | |
|---|---|---|---|
| Performance Savings | Platinum Savings | Way2Save Savings | |
Current APY | 3.90% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -7.4 | -56.6 | 0.0 |
Days Since Change | 33 | 96 | 189 |
6-Month High | 4.30% | 2.51% | 0.01% |
6-Month Low | 3.90% | 0.05% | 0.01% |
Adjustments / Mo | 0.32 | 0.47 | 0.00 |
Volatility Score | 0.036 | 1.163 | 0.000 |
How to read these metrics(Click to expand)
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