Ivy Bank vs. Always.bank: Which Savings Account and CDs Are Better?

Ivy Bank and Always.bank have a lot in common. Both are online divisions of community banks that have been around for over a century, both pay rates well above the national average, and neither charges a monthly fee. The differences are in the minimums, which CD terms each pays best on and how established the apps are.

Ivy Bank vs. Always.bank at a glance

	Ivy Bank	Always.bank
Savings APY	4.00% on $2,500 or more; 0.05% below (as of Sep 22, 2026)	4.10% on every balance (as of Oct 27, 2026)
Savings minimum	$2,500 to open and to earn the APY	$0
Best CD APY	4.25% (3 and 6 months)	4.15% (12 months)
12 month CD	4.05%	4.15%
CD minimum	$1,000	$500
Early withdrawal penalty	Not shown on the CD page	90 days (under 12 months); 120 days (12 to 36 months); 180 days (over 36 months)
Parent bank	Cambridge Savings Bank, Cambridge, MA (founded 1834; FDIC 17870)	22nd State Banking Company, Mobile, AL (founded 1917; FDIC 16910)
App rating	4.6 App Store, 3.7 Google Play	Too new for meaningful ratings
Savings score	4.1 / 5	4.4 / 5

Rates are variable and can change at any time. Each rate shows the date the bank says it applies; we check every figure against the bank’s own website.

App ratings checked Sep 29, 2026. Scores follow our published scorecard.

Which savings account is better?

Always.bank, for most people. It pays 4.10% APY from your first dollar, with no minimum and no monthly rules. Ivy pays 4.00% APY, but only once your balance reaches $2,500, and you need $2,500 to open. Below that, Ivy pays just 0.05% APY.

On $10,000 held for a year, that is about $410 at Always.bank vs. about $400 at Ivy. The gap is small at that balance, so the bigger question is whether you will ever dip under $2,500. If you might, Always.bank is the safer choice. Ivy also notes that transfers and withdrawals may be limited to six per month.

Which pays more on CDs?

It depends on the term:

Term	Ivy Bank	Always.bank
3 months	4.25%	Not offered
6 months	4.25%	4.05%
9 months	Not offered	4.10%
12 months	4.05%	4.15%
2 years	3.00%	3.90%
3 years	2.75%	3.80%
5 years	2.50%	4.05%

Ivy Bank rates effective Sep 22, 2026, confirmed on the Ivy Bank website Oct 2, 2026. Always.bank rates from its rate sheet dated Sep 29, 2026; its 12 month rate was confirmed on its website Oct 2, 2026.

Ivy wins on short terms. If you want your money back in 3 or 6 months, Ivy’s 4.25% APY is one of the best short term rates we track.

Always.bank wins from 12 months on, and by a wide margin on longer terms. Ivy drops to 3.00% on 2 years and 2.50% on 5 years; Always.bank pays 3.90% and 4.05%.

Which has clearer CD terms?

Always.bank. It publishes its early withdrawal penalties: 90 days of simple interest for terms under 12 months, 120 days for 12 to 36 months and 180 days for longer terms. It also offers a 10 day rate lock and a 10 day grace period at maturity. Ivy’s CD page says only that substantial penalties may apply, so ask for the schedule before you open. Ivy CDs need $1,000 to open vs. $500 at Always.bank, and Ivy does not allow additional deposits after opening.

Which has the better app?

Ivy, on track record. Its app is rated 4.6 on the App Store and 3.7 on Google Play. Always.bank’s app is too new to have meaningful ratings yet, which is the main reason it does not score higher on our scorecard.

Are Ivy Bank and Always.bank safe?

Yes. Ivy is a division of Cambridge Savings Bank (FDIC certificate 17870), founded in 1834. Always.bank is a division of 22nd State Banking Company (FDIC certificate 16910), founded in 1917. Both are covered up to $250,000 per depositor, per ownership category. Because each is a division, money you hold directly at the parent bank shares the same limit. See is Always.bank legit?

Can you use both?

Yes, and the two fit together well. A common setup: keep your savings at Always.bank for the no minimum rate, and put money you will need in a few months into an Ivy 3 or 6 month CD for its higher short term rate. Because they are different banks, each has its own $250,000 FDIC limit. Just remember Ivy’s $1,000 CD minimum and that Ivy CDs cannot be topped up after opening.

Who should pick which?

Pick Always.bank if you

• Want a top savings rate with no minimum
• Want a CD of 12 months or longer
• Want published penalties before you commit

Pick Ivy Bank if you

• Want a 3 or 6 month CD
• Will always keep $2,500 or more in savings
• Prefer an app with a longer track record

Our verdict

Always.bank is the better all around choice: a higher savings rate with no minimum, stronger CD rates from 12 months on and clear penalties. Ivy is worth it for short term CDs. Compare both with every account on our best high yield savings accounts and best CD rates pages.

Frequently asked questions

Is Ivy Bank or Always.bank better for savings?

Always.bank for most people: 4.10% APY with no minimum, vs. 4.00% APY at Ivy on balances of $2,500 or more.

Which has better CD rates, Ivy or Always.bank?

Ivy pays more on 3 and 6 month CDs. Always.bank pays more on 12 months and longer.

What is the Ivy Bank minimum deposit?

$2,500 for savings and $1,000 for CDs.

Are Ivy Bank and Always.bank FDIC insured?

Yes, through Cambridge Savings Bank and 22nd State Banking Company, up to $250,000 per depositor, per ownership category.

Are Ivy Bank and Always.bank real banks?

Both are online divisions of established banks: Ivy of Cambridge Savings Bank in Massachusetts, and Always.bank of 22nd State Banking Company in Alabama.