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.
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.
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.
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.
Ivy bank drastically reduced the APY and I regret opening account with them.
Overall | |
---|---|
FDIC Certificate # | 17870 |
Year Established | 1834 |
Employees | 482 |
Primary Regulator | FDIC |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.33% |
Return on Equity - YTD | 3.72% |
Annual Interest Income | $262.8MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q3 2024vs Q3 2023 | $6.97B$6.94B |
Loans | Q3 2024vs Q3 2023 | $5.75B$5.66B |
Deposits | Q3 2024vs Q3 2023 | $5.56B$5.24B |
Equity Capital | Q3 2024vs Q3 2023 | $628.3MM$567.7MM |
Loan Loss Allowance | Q3 2024vs Q3 2023 | $60.1MM$49.9MM |
Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $46.8MM$7.7MM |
Real Estate Owned | Q3 2024vs Q3 2023 | $0$0 |
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.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
4.25%* | $2.5k* | $1m | High-Yield Savings | ||
OTHER TIERS: 0.05% → $10 - $2.5k |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
4.00% | $10 | $1m | 1 Year CD | |
3.50% | $10 | - | 2 Year CD | |
3.25% | $10 | $1m | 3 Year CD | |
2.60% | $10 | $1m | 5 Year CD |
Ivy Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 1374 Massachusetts Ave - Cambridge, MA 02138