IncredibleBank Ups High Yield Savings Rate


Deal Summary: High Yield Savings, 1.82% APY ($25k+), 1.21% APY (less than $25k), $2.5k minimum opening deposit. IB CDs – 12-month (2.11% APY), 24-month (2.42% APY), 36-month (2.52% APY), $1k minimum deposit.

Availability: Nationwide (internet bank)

Yesterday, IncredibleBank, the internet division of Wisconsin-based River Valley Bank, raised the rate on its High Yield Savings account to 1.82% APY on balances of $25k+; balances less than $25k still earn 1.21% APY. The minimum opening deposit is $2.5k, but there is no minimum balance required to earn the lower tier rate. Since I last wrote about the High Yield Savings account in November, there have been three rate increases, which added a total of 27 bps.

1.82*%$25k-Incredible BankIncredible Savings
OTHER TIERS: 1.21% Up to $25k
Rates as of May 25, 2018.

More details concerning the bank-to-bank ACH transfer service and potential fees on the High Yield Savings accounts can be found in my November 2017 blog post.


About six months ago, IncredibleBank dropped its short-terms CDs and added three IB CDs in their place. IncredibleBank also raised the rates on all three IB CDs yesterday, and while none of the rates can be considered “incredible,” they are competitive enough to be included in this week’s CD Rates Summary. Of the three, the 12-month IB CD is the most competitive.

2.52%$1k-Incredible Bank36 Month IB CD
2.42%$1k-Incredible Bank24 Month IB CD
2.11%$1k-Incredible Bank12 Month IB CD
Rates as of May 25, 2018.

The minimum opening deposit for any of the IB CDs is $1k, with no stated balance cap. According to the Certificates of Deposit landing page,

Fund your new account from an existing IncredibleBank account
or from another financial institution via electronic funding (ACH).

Accessing Maturing IB CD Funds

Incredible Bank lists a CD Redemption Form on its website. Simply fill out the form and submit through the Bank’s secure email server.

Once we receive your form, we will contact you within 24 to
48 business hours to complete the authorization process.

As stated in the Truth-in-Savings Disclosure (part of the online application), the Early Withdrawal Penalty (EWP) for the 12- and 24-month IB CDs reads as follows:

The penalty will be an amount equal to 6 months interest on the amount withdrawn.

The EWP for the 36-month IB CD is slightly larger.

The penalty will be an amount equal to 9 months interest on the amount withdrawn.


IncredibleBank is headquartered in Wausau, Wisconsin and offers its services and product line to U.S. citizens and resident aliens. Opening an IB CD or High Yield Savings account must be done online. At this time, IncredibleBank does not accept account applications via telephone or mail.

While beneficiaries can named,

At this time, we don’t offer the ability to open accounts in the name of a revocable
living trust. Instead, you may add your trust as a beneficiary of your account.

Bank Overview

As an internet division of River Valley Bank, IncredibleBank operates under River Valley Bank’s FDIC Certificate and shares its financial history.

IncredibleBank/River Valley Bank has an overall health grade of "A" at, with a Texas Ratio of 5.54% (excellent), based on December 31, 2017 data. In the past year, the Bank has increased its total non-brokered deposits by $50.54 million, an excellent annual growth rate of 5.47%. Please refer to our financial overview of IncredibleBank/River Valley Bank (FDIC Certificate #19772) for more details.

IncredibleBank opened in 2009 offering a high-rate checking account. According to River Valley Bank’s mission statement, IncredibleBank was "created to be the preferred provider of online financial services based on strong customer relationships and our assortment of products." Soon after IncredibleBank opened its virtual doors, CNN named it “one of the least evil banks” and “still awesome.” Interestingly enough, IncredibleBank lists those two accolades on its website.

How the IB CDs Compare

When compared to the 207 similar length-of-term CDs tracked by, requiring a similar minimum deposit and available nationwide, IncredibleBank’s 12-month CD APY currently ranks seventh, with 14 bps separating it from the top APY.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

How the High Yield Savings Account Compares

When compared to 212 Savings accounts tracked by that are available nationally, IncredibleBank’s High Yield Savings Account top-tier APY currently ranks third, regardless of minimum deposit.

To review the top Savings account rates, either nationwide or state specific, please refer to our Savings Account Rates Table page.

The above rates are accurate as of 4/25/2018.

Related Pages: savings accounts, 1-year CD rates, 5-year CD rates, nationwide deals, Internet banks

IncredibleBank's Savings Account APY Rises
Deal Summary: IncredibleSavings, 1.76% APY ($25k+), 1.21% APY (less than $25k)

Availability: Nationwide, internet only

Yesterday, IncredibleBank raised the rate on its Incredible Savings account to 1.76% APY for balances of $25k+; balances below $25k continue to earn 1.21% APY. The Incredible Savings account can be opened with a minimum deposit of $2.5k.

IncredibleBank restructured its Incredible Savings account in October 2017 by introducing an additional rate tier. At first the rate tier was set at $250k, but in November, it was reduced to $25k. While the bottom-tier APY...

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New Top Savings Account Rate at IncredibleBank
Deal Summary: IncredibleBank Savings, 1.55% APY ($25k+), 1.21% APY (under $25k)

Availability: Nationwide, internet only

IncredibleBank, the internet division of River Valley Bank (Wisconsin), increased the top-tier rate of its High Yield Savings account to 1.55% APY. This top-tier rate now applies to balances of $25k and above. This is a big improvement to what IncredibleBank introduced in early October when the top-tier rate of 1.41% APY required a minimum balance of $250k. The rate for smaller balances remains the same (1.21% APY for balances under $25k).

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IncredibleBank Raises 12-Month IB CD Rate
Deal Summary: IB CDs – 12-month (1.72% APY), 24-month (1.87% APY), 36-month (2.06% APY), $1k minimum deposit.

Availability: Nationwide, internet only

Last spring, I noted that IncredibleBank, the internet division of River Valley Bank (Wisconsin), had raised the rates on its short-term CDs. The higher rates were certainly welcomed, but the resulting APYs weren’t that competitive. Those short-term CDs are no longer available, but IncredibleBank introduced three IB CDs in their stead in early October. The initial APYs weren’t very “incredible,” but those rates were raised at the...

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IncredibleBank Up Savings Account Rate
Deal Summary: IncredibleBank Savings, 1.41% APY ($250k+), 1.21% APY ($2.5k+)

Availability: Nationwide, internet only

Five months ago, IncredibleBank, the internet division of River Valley Bank (Wisconsin), added 10 bps to its Savings account rate, resulting in a 1.21% APY on balances of $2.5k and above. IncredibleBank has just introduced an additional rate tier (1.41% APY) for balances of $250k+.

Clicking the details arrow on the right side of the above table will show you the Savings account rate history. As you can see, the account has remained competitive since...

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IncredibleBank Increases Rate On Savings Account

Deal Summary: Savings Account, 1.21% APY on all balances

Availability: Nationwide

IncredibleBank, the internet division of River Valley Bank (Wisconsin), recently increased the rate of its Incredible Savings account by 10 basis points to 1.21% APY. This is the highest rate since the Incredible Savings account was introduced in December 2014. There was a 9-month period from 2015 to 2016 when the APY was 1.17%.

The Incredible Savings Account earns 1.21% APY on all balances. There used to be a cap of $250k, but now there is no stated balance...

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