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

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.

Ivy Bank Raises High Yield Savings Account APY To 5.30% - 10/18/2023

t says Rate is effective as of 10/18/23 and guaranteed thru 6/30/2024. It was previously 5.00%. The minimum balance to obtain the 5.30% Annual Percentage Yield (APY) is $2,500.

Ivy Bank Raises High Yield Savings Account Rate To 5% - 10/2/2023

It says Rates effective as of 10/2/23. It was previously 4.80%. The minimum balance to obtain the 5.00% Annual Percentage Yield (APY) is $2,500.

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Mo Money Mo Money!

Posted by: |

Been with Ivy since July 2022 and had been earning interests with them since. Never had an issue and I love that they keep up with the Federal Reserve rate increases. Every time Fed increases their rates, Ivy increases theirs. Customer service been prompt and been moving money monthly in (check deposits, ACHs) and out (wire transfers) without a glitch. They have a great app also where I can see my daily interests earned. You got money to save, then earn more money with Ivy! I’ve earned thousands with them already. Extremely pleased. Not sure why all these negative reviewers had their accounts frozen, must had done something wrong. Blame others when they should reflect on themselves.

Joint And POD Is A Hassle

Posted by: |

Account opening is easy as individual but adding joint is a hassle later still pending joint owner. Adding POD and getting confirmation is very difficult but ultimately done after 3 weeks. Customer service is great in answering email thru the bank email interface email. So far not called them. ACH transfer takes 3 days thru them both wats. Even pull from external bank takes 3 days.

Garbage-Don't Waste Your Time

Did not open the account with no reason, after long glitchy application process. Their system is broken and they don't give you any reason for not opening your account. I never have problems opening accounts!
After calls they say they don't deal with some states. Why are they on this website?

Absolutely Terrible

Posted by: |

I talked to an Ivy Bank representative over the phone. That representative hung up on me once the call was approaching 6 minutes. I tried calling back and got a message stating that the number you reached is not in service. Ivy Bank blocked my phone number since calling from a different phone number worked. Ivy Bank also ghosted the email I sent afterwards.

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Health
A

Data as of Q1 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
Employees491
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.35%
Return on Equity - YTD3.97%
Annual Interest Income$85.2MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$6.97B$6.68B
LoansQ1 2024vs Q1 2023$5.72B$5.38B
DepositsQ1 2024vs Q1 2023$5.5B$5.12B
Equity CapitalQ1 2024vs Q1 2023$611.3MM$567.1MM
Loan Loss AllowanceQ1 2024vs Q1 2023$53.6MM$49.5MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$14.2MM$7.5MM
Real Estate OwnedQ1 2024vs Q1 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
5.30%*$2.5k*$1mHigh-Yield Savings
OTHER TIERS: 0.05% $10 - $2.5k

Ivy Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.00%$10$1m1 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.