TIAA Bank CD Review (2026) — Legacy Brand, Now EverBank
Quick take: TIAA Bank no longer exists under that name. In August 2023, TIAA sold its bank to a private investor group that rebranded it back to EverBank (its pre-2018 name). If you opened a 'TIAA Bank' CD before mid-2023, your contract transferred to EverBank with the same terms. New CD shoppers are buying EverBank.
Current rates (TIAA Bank, as of June 2026)
| Term | APY | Minimum |
|---|---|---|
| 3-month CD | 4.00% APY | $1,000 |
| 6-month CD | 4.20% APY | $1,000 |
| 9-month CD | 4.35% APY | $1,000 |
| 1-year CD | 4.45% APY | $1,000 |
| 18-month CD | 4.35% APY | $1,000 |
| 2-year CD | 4.25% APY | $1,000 |
| 3-year CD | 4.15% APY | $1,000 |
| 5-year CD | 4.00% APY | $1,000 |
Rates verified against TIAA Bank's public rate sheet on the publication date and change frequently. Confirm current APYs directly with the bank before opening an account.
What happened to TIAA Bank
TIAA (Teachers Insurance and Annuity Association) operated a federally chartered savings bank from 2018-2023 under the TIAA Bank brand — built from the 2018 acquisition of EverBank, a Florida-based online bank that had been operating since 1998 (and known as Bank of Florida before that).
In August 2023, TIAA sold the bank to a private investor group led by Sixth Street and Warburg Pincus. The bank was rebranded back to EverBank, N.A. (FDIC cert #34775). All existing TIAA Bank CD contracts transferred to EverBank at the same terms — no action required by depositors.
If you're searching for 'TIAA Bank CD review' in 2026, you're looking for EverBank. See also our EverBank CD review.
Is your money still safe?
Yes. EverBank is FDIC-insured (cert #34775) and held roughly $40 billion in assets as of late 2025. The change of ownership did not affect deposit insurance or contract terms. The bank is still federally chartered (OCC-regulated).
Some legacy TIAA Bank customers expressed concern about the move from a non-profit-affiliated bank (TIAA, the parent, is a non-profit) to a private-equity-backed bank. From a CD depositor's standpoint, the change has no material effect on your contract — FDIC coverage is identical, terms transferred, and the rate sheet has continued to be competitive.
What we like about TIAA Bank CDs
- Deeper term curve than most online banks (3mo, 6mo, 9mo, 1yr, 18mo, 2yr, 3yr, 5yr all offered)
- Bump-Up CD option (3yr term, one-time rate bump) is available
- Yield Pledge guarantee — bank promises to keep money-market rates in the top 5% of competitor index
- Solid mobile and web banking experience inherited from the EverBank platform
- Long operating history (1998-present) under multiple brand names
What we don't
- Brand change creates confusion — legacy customers may not realize the bank is now EverBank
- Early-withdrawal penalty on 5-yr (3% of principal) is calculated on PRINCIPAL not interest — harsher than most
- 1-year rate (4.45%) is mid-pack, not top of leaderboard
- 5-year rate (4.00%) is weak vs MYGA alternatives
How TIAA Bank CDs compare vs peers
If this rate is on your shortlist, you should also be pricing:
| Competitor | Term | APY |
|---|---|---|
| EverBank (same bank, post-rebrand) | 1-year CD | ~4.45% APY |
| BMO Alto | 1-year CD | ~4.75% APY |
| Synchrony Bank | 5-year CD | ~4.35% APY |
| CIT Bank | 1-year CD | ~4.50% APY |
| Top A-rated MYGA carrier | 5-year MYGA | ~5.65% guaranteed |
Internal benchmarks: Best 5-Year CD Rates 2026 · Best 1-Year CD Rates 2026 · Online vs Brick-and-Mortar CDs.
When a MYGA beats this TIAA Bank CD
EverBank's 5-year at 4.00% is not competitive against MYGAs. Compare $250,000 over 5 years:
- EverBank (ex-TIAA) 5-yr CD at 4.00%: $250,000 grows to $304,163 (taxable annually)
- A-rated 5-yr MYGA at 5.65%: $250,000 grows to $329,251 (tax-deferred)
- Pre-tax delta: $25,088 in favor of the MYGA
The penalty structure also matters: EverBank's 3% of PRINCIPAL early-withdrawal penalty on the 5-year would cost $7,500 on $250K if you broke the CD — vs a MYGA surrender charge that typically declines each year (7%, 6%, 5%, 4%, 3%, etc.). For 5-year money, the MYGA dominates on both yield and on flexibility.
TIAA Bank CD FAQ
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Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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Bottom line
TIAA Bank is now EverBank — same FDIC cert, same product line, new owner. The rate sheet is solid mid-pack with a usefully deep term curve and a real Bump-Up option, but neither the 1-year nor the 5-year leads the market. The harsh 3% principal-based EWP on the 5-year is worth flagging. For 5-year money, run the MYGA comparison before committing.
About Hans Goldstein: Independent retirement income specialist. CA Life License #4163961. NPN #20602398. Reviews 30+ carriers and tracks bank CD rates weekly. Phone: 213-414-2808. Email: hans@goldsteinco.net.
Disclosure
This review reflects publicly available bank rate sheets and approximate APYs as of the date stated above. CD rates change frequently — sometimes weekly — and the rates above may be stale by the time you read this. Always confirm current rates and terms against the bank's current rate sheet and disclosure documents before opening an account. FDIC insurance covers $250,000 per depositor, per insured bank, per ownership category; deposits above that amount at a single bank are not insured. This article is general information for educational purposes; it is not personalized financial advice, a solicitation, or an offer of any specific product. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) and is not a bank, deposit broker, or registered investment adviser. CDs are bank deposit products and are not sold by insurance producers; references to CDs are for comparison context only. MYGAs (multi-year guaranteed annuities) are insurance contracts, subject to surrender charges and state guaranty fund coverage rather than FDIC. Early withdrawal of a CD before the maturity date typically results in a penalty that may exceed interest earned. Always read the actual deposit account agreement and consult a licensed advisor before making material financial decisions.