Ivy Bank

Deposits held and insured by Cambridge Savings Bank

Overview / Commentary
855-489-2265
1374 Massachusetts Ave
Cambridge, MA 02138
Deposits held and insured by Cambridge Savings Bank

Ivy Bank is a digital banking division of Cambridge Savings Bank which is a Massachusetts state-chartered bank and Member FDIC. Deposits at Ivy Bank and Cambridge Savings Bank are combined for the purpose of calculating FDIC insurance limits (FDIC certificate #17870) and are not separately insured.
Accounts are available nationally, except for California.

Related Posts

Ivy Bank Drops To 4.25%. - 12/19/2024

Ivy Bank Drops To 4.25%. Quick drop of 0.35% from 4.60% after Fed rate change.

Ivy Bank Drops To 4.60%. We're Down To Six Banks Paying 5% Or Higher - 12/3/2024

https://www.ivybank.com The list is getting shorter and shorter. The banks still paying 5% or more for new accounts are: TIMBR 5.25% Bank of Hope 5.10% ZYNLO (2 accounts) 5.00% Fitness Bank 5.00% Open Bank 5.00% Pibank 5.00% The Fed next meets 2 weeks from Wed, on 12/18, and will most likely lower rates 25 more bps to 4.50%. I wonder if any banks will survive the next rate cut?

5.30% APY On Savings Extended To 9/30/24 - 6/3/2024

https://www.ivybank.com/ $2,500.00 minimum. Deal had previously been set to expire on 6/30/24.

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Love This Bank!

I couldn't be happier with my experience at Ivy Bank! From the moment I opened my account, the customer service has been absolutely top-notch. Every representative I've interacted with has been friendly, knowledgeable, and truly eager to help. They make everything so simple, with a user-friendly online platform that’s incredibly intuitive and easy to navigate. On top of that, they offer some of the best rates around, which has made a real difference in growing my savings.

Great Account And Bank

The account was easy to open in minutes and the rate is great and top of what’s out there. Easy to move money to and from my accounts at Bank of America.

Suspicious New Reviews

Posted by: |

A bunch of glowing 5-star reviews have just posted from brand-new users. Normally this page gets 1 review per month, at most.
Seems like someone is astroturfing...

Overall this bank WAS fine (fast transfers, high limits, decent online banking, free credit score), but they have since discontinued their "Ivy Indexed Savings" account that was tied to treasury yields. They're also closing it for existing users as well. They essentially have zero competitive advantage now, so I will go elsewhere. The entire point of sticking with the indexed account was so I wouldn't have to rate-hop.

maybe all the fake reviews are due to the massive withdraw of funds after the poor decision to discontinue their competitive products.

Dropped APY Drastically

Ivy bank drastically reduced the APY and I regret opening account with them.

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Health
B+

Data as of Q3 2024

Data displayed below is for insuring bank: Cambridge Savings Bank
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #17870
Year Established1834
Employees482
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.33%
Return on Equity - YTD3.72%
Annual Interest Income$262.8MM
Assets and Liabilities
AssetsQ3 2024vs Q3 2023$6.97B$6.94B
LoansQ3 2024vs Q3 2023$5.75B$5.66B
DepositsQ3 2024vs Q3 2023$5.56B$5.24B
Equity CapitalQ3 2024vs Q3 2023$628.3MM$567.7MM
Loan Loss AllowanceQ3 2024vs Q3 2023$60.1MM$49.9MM
Unbacked Noncurrent LoansQ3 2024vs Q3 2023$46.8MM$7.7MM
Real Estate OwnedQ3 2024vs Q3 2023$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Ivy Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Ivy Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.25%*$2.5k*$1mHigh-Yield Savings
OTHER TIERS: 0.05% $10 - $2.5k

Ivy Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%$10$1m1 Year CD
3.50%$10-2 Year CD
3.25%$10$1m3 Year CD
2.60%$10$1m5 Year CD
Locations

Ivy Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 1374 Massachusetts Ave - Cambridge, MA 02138

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.