Ivy Bank High-Yield Savings

Ivy Bank is the online-only division of Cambridge Savings Bank, a Massachusetts bank that Ivy says has over 192 years of experience. The High-Yield Savings account is its savings product: a straightforward, no-monthly-fee account with a tiered variable rate. The current rate is 4.00% APY, effective 9/22/26, on balances from $2,500 up to $1,000,000. The structure below that threshold is the account's biggest trap: if your balance is between $10 and $2,499.99, Ivy's page says the rate and the APY are 0.05%. This is a steep cliff, not a blend; dip under $2,500 and your balance earns essentially nothing until you top it back up. The minimum opening deposit is $2,500, matching the threshold. There is no monthly fee. There is also no ecosystem: Ivy lists savings accounts and CDs, not checking, and its page says transfers and withdrawals may be limited to a total of six per calendar month. One FDIC nuance worth knowing before you spread money around: Ivy Bank and Cambridge Savings Bank are treated as the same entity for FDIC limits, so deposits at both count toward a single $250,000 limit per depositor per ownership category. The account fits savers who will reliably keep $2,500 or more parked and prefer a bank with a long operating history. The 4.00% APY is paid on balances up to $1,000,000 per Ivy's page, which leaves room for large cash positions such as home down payments or business reserves. Anyone whose balance might fall below $2,500, even briefly between paychecks, should weigh the cliff, because 0.05% is what Ivy pays on balances from $10 to $2,499.99.