EverBank vs. Wells Fargo
Compare rates, requirements, and features side-by-side to find the best option for you.
EverBank
Performance Savings
4.05%APYDec 6, 2025FDIC InsuredNo MinimumsShow Fine Print & Trends Hide Details
EverBank
Performance Savings
Wells Fargo
Platinum Savings
0.05%APYDec 6, 2025FDIC InsuredHigh MinimumChecking BundleGreat iOS AppGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Wells Fargo
Platinum Savings
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Comparison Analysis
Comparing EverBank vs. Wells Fargo
Why EverBank?
- ✓Higher potential APY (4.05% vs 0.01%-0.05%) on all balances
- ✓No checking account or direct deposit required
Why Wells Fargo?
- ✓Higher rated iOS app (4.9 vs 2.3)
- ✓Higher rated Android app (4.8 vs 1.4)
- ✓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. $405 vs $5/yr).
Better Returns at $25,000
EverBankEverBank's Performance Savings pulls ahead with larger amounts (approx. $1013 vs $13/yr).
Best for Simplicity
EverBankEverBank's Performance Savings offers 4.05% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Wells FargoWells Fargo offers an iOS app rated 4.9 (vs. 2.3) and Android app rated 4.8 (vs. 1.4)
Shared Benefits
Over a 1-year period, EverBank's Performance Savings pays $400 more interest on a $10,000 balance than Wells Fargo's Platinum Savings.
Executive Summary
EverBank stands out with its Performance Savings account, offering a competitive 4.05% APY with no minimum deposit, maintenance fees, or direct deposit requirements, making it an appealing choice for savers looking for simplicity. In contrast, Wells Fargo's highest yielding option, the Platinum Savings account, provides a mere 0.05% APY, which is significantly lower and requires a minimum balance of $1,000,000 linked to a checking account for that rate. While Wells Fargo does offer a Way2Save Savings account with a 0.01% APY, it pales in comparison to EverBank's offering. Overall, EverBank's Performance Savings is the clear winner for those seeking higher returns.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
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See who beats both EverBank and Wells Fargo.
| Feature | EverBank | Wells Fargo |
|---|---|---|
| APY | 4.05% Verified: 12/6/2025 ↘︎ 0.25%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 12/6/2025 ↘︎ 2.46%90d Change |
| 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 | iOS2.3 Android1.4 | iOS4.9 Android4.8 |
| 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 |
Savings Comparison
EverBank earns $2,438.4 more than Wells Fargo.
EverBank
Performance Savings
Savings Breakdown
- Interest Earned+$2,467.00(12.1%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,467.00
Wells Fargo
Platinum Savings
Higher APY requires $1,000,000
Savings Breakdown
- Interest Earned+$28.60(0.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,028.60
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | EverBank | Wells Fargo | |
|---|---|---|---|
| Performance Savings | Platinum Savings | Way2Save Savings | |
Current APY | 4.05% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -7.5 | -72.0 | 0.0 |
Days Since Change | 78 | 50 | 143 |
5-Month High | 4.30% | 2.51% | 0.01% |
5-Month Low | 4.05% | 0.05% | 0.01% |
Adjustments / Mo | 0.21 | 0.63 | 0.00 |
Volatility Score | 0.030 | 0.843 | 0.000 |
How to read these metrics(Click to expand)
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