Ivy Bank, a division of Cambridge Savings Bank

Deposit Rates APY Vs.Others
Savings 0.61% 0.85% →
1-Year CD 0.60% 0.80% →
2-Year CD N.A. 0.80% →
3-Year CD 0.75% 0.85% →
4-Year CD N.A. 1.04% →
5-Year CD 1.00% 1.15% →

2021 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 $5.20 billion in assets.

Deposits FDIC Insured Yes
Insured Bank Cambridge Savings Bank
FDIC Certificate # 17870
Date Established 1834
Assets $5.2 billion
Loans $4.02 billion
Deposits $4.33 billion
Capital $0.48 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 - September 23, 2021

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
Online Savings Account
0.61% $2,500 - Learn More
Online CD Rates
Online CD Rates APY MIN MAX
1-Year CD
0.60% $1,000 - Learn More
3-Year CD
0.75% $0 - Learn More
60 Month Online CD
1.00% $0 - Learn More


Customer Reviews for Ivy Bank, a division of Cambridge Savings Bank

  • September 13, 2021 |

    I was lured in by the rate, but totally disgusted by the service, or lack thereof. Opened an account on 9/7, it finally showed in my balance on 9/11, but it's still not available on 9/12. Also on 9/11 I received a notice of hold for seven business days on that same deposit since they're "unable to verify funds at this time." Meanwhile, I transferred more $$ from an outside bank and received an email that the request has been scheduled but here it is, 5 days later and that transfer doesn't show anywhere on my Ivy account. I'm going to close this account - as soon as I can talk to a human! PS Their phone service has been down since I opened the account on 9/7. This is not reassuring for an internet bank!

  • September 10, 2021 |

    I opened an account with them because of the higher interest rates. I never had any trouble reaching someone on the phone when I was opening the account. Now, only a couple of weeks later, I can't speak to a real person. All calls go straight to email and no one calls back. I requested to close my account through their online chat yesterday and still money in my account so that obviously didn't happen. HORRIBLE customer service.

  • September 8, 2021

    One of the best APRs out there, but not worth the hassle. They have some issues to work out in their system still, so I would not open any accounts with them until they can work those issues out. Poor follow-up on said issues as well.

  • September 7, 2021

    Nothing but problems since I opened my account less than a month ago. Calls to the bank go straight to VM which is very concerning. Avoid at all costs and go with Ally!

  • September 1, 2021 |

    Online Savings Rates

    No complaints. Site is easy to use and it is worthwhile to get the extra incremental savings. There are transfer limits ($45k per day and $75k per month, I believe) and transfer delays. Those can be defeated by initiating transfers from an outside bank. Purepoint, CitizensAccess, Amex, Marcus all will do this. Alternatively, the bank offered to reimburse wire fees on a one-time basis during funding. I would recommend, but I would also emphasize that you should stay within FDIC limits since the bank is moving off of Massachusetts' DIF insurance in October.

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