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CDARS program delivers up to $50 million in FDIC insurance coverage

Insured Advantage CD (CDARS)

There's a simple solution to protect and grow your wealth. As a member of the Certificates of Deposit Account Registry Service (CDARS®) program, EverBank® provides FDIC-insured accounts with coverage up to an astounding $50 million.1 With the CDARS network, you don't have to manage multiple bank relationships to protect large deposits. And with a guaranteed yield, your money will consistently grow while being protected by FDIC insurance. That's confidence and financial security you won't find in the stock market.

   

Not finding a safe investment in the stock market?

The CDARS network can be a great alternative to protect large deposits plus earn high yields.

  • Financial security - FDIC insurance coverage on up to $50 million
  • Simplicity - work with just 1 bank and deal with just 1 year-end tax form
  • Flexibility - build a customized ladder of CDs with large deposits to manage your cash flow over time
  • Wide range of maturities - 3 months to 3 years
  • 1.25%
    APY
  • 1-Year CD2
  • Large deposit safety
    High Yield earnings
    That's a great combination
  • Apply Now

I'm interested in opening a CDARS account at EverBank. What's my next step?

For more information call one of our Customer Care Specialists: 888.882.EVER (3837). Or apply online right now.
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How a CDARS account secures large deposits with FDIC insurance

The CDARS network provides one of the most convenient and rewarding ways you can get FDIC insurance coverage on deposits up to $50 million.1 As one of the CDARS banks, EverBank places your money in multiple CDs at banks within the network.

  • You open a CDARS account at EverBank by signing a Deposit Placement Agreement
  • Deposits are placed in increments that ensure full FDIC protection on principal and interest
  • You can request that money not be deposited in certain banks (including banks where you already hold deposits)
  • Your total deposit will earn a high yield through EverBank


Here's how funds could be distributed through the CDARS network for full FDIC protection

The following illustration shows how $500,000 could be distributed with 2-year CDs in the CDARS network.

How CDARS works

I'm interested in opening a CDARS account at EverBank. What's my next step?

For more information call one of our Customer Care Specialists: 888.882.EVER (3837). Or apply online right now.
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Weekly placement limits when funding CDARS accounts

Funds placed through the CDARS network for FDIC insurance coverage are subject to weekly and term-based placement limits. Each CDARS account holder is allowed to deposit up to $50 million per week.

Individual depositor weekly CDARS funding limitations per term

Term Weekly funding limits (Max $50MM/week)
3 month (up to) $25 million
6 month (up to) $25 million
1 year (up to) $20 million
2 year (up to) $3 million
3 year (up to) $1.5 million
Subject to CDARS financial institution placement limitations.
Determined by SSN/TIN Glossary

How to get FDIC insurance up to $50 million through the CDARS Network


Funding a maximum $50 million CDARS account could be accomplished over a 1-week period as illustrated below.
Term and amount
3 month CD - (up to) $5 million
6 month CD - (up to) $25 million
1 year CD - (up to) $20 million
Total Deposit = $50 million


Opening and funding a CDARS account through EverBank

Funding type Funding deadline Documentation
Personal Check 5 p.m. ET | Friday prior to account opening date Completed application
Deposit Placement Agreement
Wire transfer 12 p.m. ET | Wednesday prior to account opening date
Existing EverBank customer with current account 12 p.m. ET | Wednesday prior to account opening date (adequate funds must be available in EverBank account)


I'm interested in opening a CDARS account at EverBank. What's my next step?

For more information call one of our Customer Care Specialists: 888.882.EVER (3837). Or apply online right now.
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  1. Insured Advantage Certificates of Deposit are offered in conjunction with the Certificates of Deposit Account Registry Service (CDARS®) and allow FDIC insurance on certificates of deposit up to $50 million. Subject to availability based on CD term and participation limits. Placement is based on date and time of application approval and funding. Deposits above single institution FDIC insurance limits will not benefit from higher insurance protection until the Insured Advantage account is Placed. Accounts are Placed each week on Thursday or the next business day thereafter. Early withdrawal penalties apply. A minimum deposit of $10,000 is required to open the account. CDARS and Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC.
  2. The quoted Annual Percentage Yield (APY) is current as of 11/20/2009 12:00:00 AM, may change at any time prior to the opening of the CD, applies only to the corresponding term also quoted with the APY, and assumes interest remains on deposit until maturity. A minimum deposit of $10,000 is required to open the account. Insured Advantage Certificates of Deposit are offered in conjunction with the Certificates of Deposit Account Registry Service (CDARS) and allow FDIC insurance on certificates of deposit in excess of single institution limits. CDARS and Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC. All accounts are subject to approval based in part on CD term and EverBank's CDARS participation limits. For current limits, please contact us at 888.882.EVER (3837). Accounts do not fund immediately. Funds received for an Insured Advantage account may be placed into a Yield Pledge Money Market account until your Insured Advantage account is approved and opened ("Placed"). Please refer to the Yield Pledge Money Market section of this rate table for more information on this account. Funding Requirements: The date your funds are received sets the earliest time your Insured Advantage account can be Placed: (1) Wire Transfers must be received by 12 p.m. ET on the Wednesday prior to Placement; (2) Cashier's Checks deposited in person must be received by 12 p.m. ET on the Wednesday prior to Placement; (3) Transfers from an existing EverBank Account must be received and available before 12 PM ET on the Wednesday prior to Placement; and (4) Personal Checks must be received by 5PM ET on the Friday prior to Placement. Deposits above single institution FDIC insurance limits will not benefit from higher insurance protection until the Insured Advantage account is Placed. Accounts are Placed each week on Thursdays or the first Business Day thereafter. Early withdrawal penalties apply. Published rates and APYs are not applicable to CDs in excess of $5 million; please call for a rate quote.
  3. A minimum deposit of $10,000 is required to open the account. Published rates and Annual Percentage Yields are not applicable to CDs in excess of $5 million; please call for a rate quote.
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  2. EverBank, the EverBank Infinity Sphere and EverBank logo, along with Insured Advantage and Yield Pledge are proprietary service marks of EverBank. All rights reserved.
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888.882.EVER (3837)

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