BANK ACCOUNTS DENOMINATED IN FOREIGN CURRENCY (not FDIC-insured)

Holding deposit accounts denominated in foreign currency can offer investors several advantages. The most obvious advantage is if a person is domiciled, plans to visit extensively or conducts business in a different country the liquidity of holding funds in that country can greatly reduce transaction costs. A second advantage is that these deposit account can offer superior returns either by higher interest rates, through currency appreciation, or even both. A third advantage is that holding foreign denominated bank accounts is a way to diversify a portfolio internationally without having to endure the additional risk of the equity markets. Bank accounts denominated in a foreign currency are subject to currency fluctuations and deposits can lose value if the underlying currency depreciates versus the US dollar.

EVERBANK FOREIGN CURRENCIES AND CDS

The WorldCurrency CD yields listed below have a minimum deposit of $10,000 (US):

Australian Dollar 6-month CD 5.58% APY

Brazilian Real 3-month CD 6.40% APY

British Pound 1-year CD 3.29% APY

Canadian Dollar 3-month CD 1.00% APY

Czech Koruna 6-month CD 3.28% APY

Danish Krone 6-month CD 2.14% APY

Euro 9-month CD 2.63% APY

Hong Kong Dollar 6-month CD 1.00% APY

Icelandic Krona 3-month CD 2.52% APY

Japanese Yen 1-year CD 0.00% APY

Mexican Peso 6-month CD 5.32% APY

New Zealand Dollar 6-month CD 6.22% APY

Norwegian Krone 6-month CD 4.39% APY

Singapore Dollar 6-month CD 0.00% APY

South African Rand 6-month CD 8.75% APY

Swedish Krona 1-year CD 3.25% APY

Swiss Franc 6-month CD 0.50% APY  

Contact EverBank for more information.

Posted 5/15/09