If you are in the
Everbank is a FDIC insured
- World Currency CD: This option allows the customers to diversify into a single foreign currency of choice like the Euro, British pound, Canadian Dollar and even the Indian rupee. These CDs can be of 3,6,9 and 12 months tenure and renewable. The interest rates offered are different for each foreign currency and the minimum deposits required is $10,000.
- Multi Currency CDs : Everbank offer a different CD's each comprised of multiple foreign currencies from countries with specific regional strengths and/or geopolitical and economic development. This option gives the customer an option to diversify into multiple currencies by opening a single CD. These CDs are available in 3 and 6 months only and the minimum deposit required is $20000.
- Metal Select Account: This account allows the customer to purchase gold and silver within 1% over the traded market price EverBank Metals Select Accounts deliver simple and low-cost opportunities to add these valuable commodities to your investment portfolio.
Risk of Investment
Although FDIC insurance will protect you from bank failure up to $100,000, it's important to understand that your deposit will be susceptible to loss or gains due to currency price fluctuations. Various geopolitical and economic influences can affect a currency's value.
As the global economy expands and countries do more trade with each currency fluctuations are bound to increase. Whatever may be your investment goals. Currency diversification strategy must be incorporated in your financial portfolio management!