Ivy Bank, a division of Cambridge Savings Bank

logo for Ivy Bank, a division of Cambridge Savings Bank

ACH 011303084

Deposit Rates APY Vs.Others
Savings 5.30% 5.50% →
1-Year CD 5.00% 5.50% →
2-Year CD N.A. 5.00% →
3-Year CD 3.25% 5.10% →
4-Year CD N.A. 4.60% →
5-Year CD 2.60% 4.61% →

2024 Overview

General Online Bank Information

Money that you deposit is held by Cambridge Savings Bank. Cambridge Savings Bank is an FDIC insured institution founded in 1834. It has approximately $6.94 billion in assets.

Deposits FDIC Insured Yes
Insured Bank Cambridge Savings Bank
FDIC Certificate # 17870
Date Established 1834
Assets $6.94 billion
Loans $5.66 billion
Deposits $5.24 billion
Capital $0.57 billion

For a more detailed analysis of Cambridge Savings Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - February 26, 2024

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
Online Savings Account
5.30% $2,500 - Learn More
Online CD Rates
Online CD Rates APY MIN MAX
1-Year CD
5.00% $1,000 - Learn More
3-Year CD
3.25% $0 - Learn More
60 Month Online CD
2.60% $0 - Learn More

 

Bank Offers

Ivy Bank Raises Online Savings Rate From 0.61% to 0.70% APY
Mar 2, 2022

Ivy Bank has raised its online savings rate.


Ivy Bank Is Now Offering 0.85% APY With a $2,500 Minimum Deposit
May 6, 2022

Ivy Bank Raises Online Savings Rate to 1.15% APY
Jun 6, 2022

Ivy Bank, a subsidiary of Cambridge Savings Bank, has offered competitive savings rates since its launch last year.   Learn more here.


Ivy Bank Raises Online Savings Rate to 1.50% APY
Jun 16, 2022

Ivy Bank, a subsidiary of Cambridge Savings Bank, has offered competitive savings rates since its launch last year.   Learn more here.


Ivy Bank Raises Online Savings Rate to 1.70%
Jul 5, 2022

Ivy Bank Raises Online Savings Rate to 2.15% APY
Aug 3, 2022

Ivy is the latest onlien bank to raise its online savings rate above 2% APY.


Ivy Raises Online Savings Rate to 3.10%
Oct 12, 2022

Ivy has raised is online savings rate from 2.70% to 3.10% APY.  The bank remains consistently competitive.


Ivy Bank Increases Online Savings Rate to 3.90% APY
Dec 7, 2022

Ivy Bank, the online division of Cambridge Savings Bank, has increased its online savings rate from 3.50% to 3.90% APY today.

Ivy has been consistently competitive since launching in early 2022, and is positively reviewed on BestCashCow and RatesAndInfo.

 


Ivy Bank Raises Its Online Savings Rate to 4.50%
Mar 30, 2023

Ivy Bank, a division of Massachusetts' Cambridge Savings Bank, has raised its online savings rate to 4.50% APY today from 4.25%.


Ivy Bank's Online Savings Rate is Now 4.80% APY
Apr 25, 2023

Ivy Bank has increased its online savings rate to 4.80% APY, up from 4.50%.




Climate Initiatives

Ivy Bank, a division of Cambridge Savings Bank is encouraged to provide us with this information. When we receive this information from the online bank, we will provide it here.



Customer Reviews for Ivy Bank, a division of Cambridge Savings Bank (32)


  • July 9, 2023 | | Replies 1

    Online Savings Rates

    Looks like indexed savings is now at 5.31%. Down, but it still beats anything else here. Why aren't you highlighting this for your readers?

    JayT | Feb 26, 2024

    It is something like 5.68% APY right now for September. Just cannot be beat by anything else on this site, unless you want to lock into a CD.

  • June 10, 2023 |

    Online Savings Rates

    i just checked and I could believe it but the indexed savings is now 5.80%. Wow! (I cannot imagine why this isn't being advertised here and Nerdwallet?)

  • May 1, 2023

    Online Savings Rates

    Was rejected for account because I live in California. Is this another case of thinking CA is Canada?

  • April 4, 2023 | Replies 2

    How Is The Rate Being Calculated ???

    So Ivy indexed has been a great option so far, BUT I am unsure how they calculate the rate.

    Last month Feb 28 One-Month U.S. Treasury Yield was 4.65%/ APY 4.75%, the same as the interest rate/APY

    March 01, 2023 4.67%
    February 28, 2023 4.65%

    This month you can see the rates

    April 03, 2023 4.70%
    March 31, 2023 4.74%
    March 30, 2023 4.74%

    They announced the month's rate as 4.23 %/APY 4.32%, and I am really wondering how they calculate the rates. Hope to hear from them soon!

    KGS1234 | Feb 26, 2024

    The Indexed Account is set each month based on the what the One Month Treasury rate is on the 15th of the preceeding month. If you look at the advertisement small print it explains how it is determined.

    Ivy Bank | Feb 26, 2024

    Hi Supersaver1. You can find details on how the interest rate is calculated on the Indexed Savings Account Truth in Savings Disclosure page on our website under the ‘Determination of Rate’ section (https://www.ivybank.com/indexedtis). If you have further questions, please give us a call at 855.489.2265 or send us a private message with the best number to reach you at and a member of our team will reach out to you.

  • March 9, 2023 |

    Savings Rates

    I am a big fan of this one. The rate is now 4.25% on the online savings product, but 4.75% on the indexed product. While they don't allow a product switch, you can open the indexed with 4.75% then move all your cash. I think indexed is better.


Add Your Review


or use your BestCashCow account

or