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Ivy Bank High Yield Savings Account Review
Our take: A strong rate from an established Massachusetts bank if you keep at least $2,500. Below that, the rate drops to almost nothing.
Pros
- 4.00% APY on balances from $2,500 to $1 million
- No monthly fee and daily compounding
- Backed by Cambridge Savings Bank, founded in 1834
Cons
- $2,500 needed to open and to earn the APY
- Balances under $2,500 earn only 0.05% APY
- Transfers may be limited to six a month
Key facts
- APY
- 4.00% on balances of $2,500 or more
- Requirements
- Keep a balance of at least $2,500 to earn the top APY. Balances under $2,500 earn 0.05% APY.
- Rate if requirements are missed
- 0.05%
- Minimum to open
- $2,500
- Minimum to earn APY
- $2,500 to earn the APY
- Monthly fee
- No monthly fee
- ATM access
- None, transfers only
- Current offer
- None right now
- Insurance
- FDIC insured through Cambridge Savings Bank up to $250,000 per depositor, per ownership category
- FDIC certificate
- 17870 (Cambridge Savings Bank, Cambridge, MA)
- Who can open
- US residents 18 or older
- Mobile app
- Ivy Bank app: 4.6 on the App Store, 3.7 on Google Play (Sep 29, 2026)
- Customer service
- Ivy Bank customer support
Source: Ivy Bank website, checked Oct 27, 2026. Insurance details from the FDIC BankFind database.
Our verdict
Ivy Bank pays 4.00% APY on balances from $2,500 up to $1,000,000, with no monthly fee and daily compounding. The catch is the minimum: you need $2,500 to open, and balances under $2,500 earn just 0.05% APY.
Ivy Bank is the digital division of Cambridge Savings Bank, a Massachusetts bank founded in 1834.
Rates by balance
| Balance | APY |
|---|---|
| $10 to $2,499.99 | 0.05% |
| $2,500 to $1,000,000 | 4.00% |
Rates effective September 22, 2026, per Ivy Bank. Tiered variable rate account.
Limits to know
- Transfers and withdrawals may be limited to six per calendar month.
- No ATM card or debit card; money moves by transfer.
Is Ivy Bank safe?
Yes. Ivy Bank deposits are insured through Cambridge Savings Bank, FDIC certificate 17870, which we confirmed in the FDIC BankFind database. Deposits at Ivy Bank and Cambridge Savings Bank are combined for FDIC limits.
How we rated it
It scores well on rate, fees and safety. It loses points for the $2,500 minimum, the low rate below that balance and the six transfer monthly limit. It scores 4.1 out of 5 on our scorecard for this category. See how we score on the comparison page and our methodology.
How Ivy Bank compares
| Account | Rating | APY | Min to open | ATM card |
|---|---|---|---|---|
| Elevault High Yield Savings | 4.6 | 4.34% | $0 | No |
| EverBank Performance Savings Account | 4.6 | 4.20% | $0 | No |
| Happen Bank LevelUp Savings | 4.6 | 4.20% | $0 | Yes |
| Bread Savings High Yield Savings Account | 4.6 | 4.05% | $100 | No |
| Peak Bank Envision High Yield Savings | 4.5 | 4.27% | $100 | No |
| Newtek Bank Personal High Yield Savings Account | 4.5 | 4.20% | $100 | No |
| Openbank High Yield Savings Account | 4.5 | 4.00% | $500 | No |
| E*TRADE Premium Savings | 4.5 | 3.75% | $0 | No |
| Axos ONE Savings | 4.4 | 4.21% | $0 | Yes |
| Always.bank High Yield Savings Account | 4.4 | 4.10% | $0 | No |
| Barclays Tiered Savings | 4.4 | 3.50% | $0 | No |
| Capital One 360 Performance Savings | 4.4 | 3.20% | $0 | No |
| Valley Direct High Yield Savings | 4.3 | 3.30% | $1,000 | No |
| Ally Bank Savings Account | 4.3 | 3.20% | $0 | No |
| American Express High Yield Savings Account | 4.3 | 3.20% | $0 | No |
| Pibank Savings | 4.2 | 4.40% | $0 | No |
| Western Alliance Bank High Yield Savings Premier | 4.2 | 3.80% | $500 | No |
| Ivy Bank High Yield Savings Account | 4.1 | 4.00% | $2,500 | No |
| SoFi Checking and Savings | 4.1 | 3.30% | $0 | Yes |
| Alto Online Savings (BMO) | 4.0 | 3.00% | $0 | No |
Ivy Bank savings FAQ
What is Ivy Bank?
Ivy Bank is the digital division of Cambridge Savings Bank, an FDIC insured Massachusetts bank (FDIC certificate 17870).
What is the Ivy Bank savings rate?
4.00% APY on balances of $2,500 or more, as of Sep 22, 2026. Balances under $2,500 earn 0.05% APY.
What is the minimum deposit?
$2,500 to open and to earn the top APY.
Ready to open Ivy Bank High Yield Savings Account?
Rates as of Sep 22, 2026. Confirm the current rate and terms on the provider’s site before you apply.