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forum thread Posted by taitai3 • Nov 28, 2023
forum thread Posted by taitai3 • Nov 28, 2023

Ivy Bank: High-Yield Savings Account 5.30% APY Guaranteed Through 6/30/24

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Ivy Bank, an FDIC-insured digital banking division of Cambridge Savings Bank, offers 5.30% APY on HYSA guaranteed through 6/30/24. You must maintain a minimum balance of $2500 to obtain the 5.30% APY.

I confirmed with customer support that there aren't any hidden fees and that rates will automatically be increased if the Fed rates go up.

https://www.ivybank.com/savings
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About the Poster
Ivy Bank, an FDIC-insured digital banking division of Cambridge Savings Bank, offers 5.30% APY on HYSA guaranteed through 6/30/24. You must maintain a minimum balance of $2500 to obtain the 5.30% APY.

I confirmed with customer support that there aren't any hidden fees and that rates will automatically be increased if the Fed rates go up.

https://www.ivybank.com/savings

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11 Comments

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Nov 28, 2023
5,963 Posts
Joined Jan 2008
Nov 28, 2023
Eagles89
Nov 28, 2023
5,963 Posts
This offer is only good if you think the economy is going to crash next month
2
Nov 28, 2023
946 Posts
Joined Jun 2014
Nov 28, 2023
BabyDoll415
Nov 28, 2023
946 Posts
Quote from Eagles89 :
This offer is only good if you think the economy is going to crash next month
Nothing is crashing it's all going up there's only on way 😭
Nov 29, 2023
856 Posts
Joined Sep 2006
Nov 29, 2023
dingdong123
Nov 29, 2023
856 Posts
If balance drops below 2500, account gives 0.05% apy.
Nov 29, 2023
1,275 Posts
Joined Jul 2006
Nov 29, 2023
kevolution
Nov 29, 2023
1,275 Posts
Marginal improvement over money market funds at brokerages and other HYSA and pretty much equal to t-bills but still decent for FDIC insured HYSA.
Nov 29, 2023
580 Posts
Joined Dec 2016
Nov 29, 2023
samsungs70
Nov 29, 2023
580 Posts
Is Synchrony 5.65% a good rate? Will the rate go up the next few months?
Pro
Nov 29, 2023
188 Posts
Joined Nov 2016
Nov 29, 2023
lalakers
Pro
Nov 29, 2023
188 Posts
Read the disclosure at the bottom of the web page #3. It says you may only withdraw up to 6 times within a year. I believe other banks offer unlimited withdraws.
1
Nov 29, 2023
25 Posts
Joined Dec 2019
Nov 29, 2023
Beat2Def
Nov 29, 2023
25 Posts
Quote from lalakers :
Read the disclosure at the bottom of the web page #3. It says you may only withdraw up to 6 times within a year. I believe other banks offer unlimited withdraws.
Six times a year or six times a month?

"Transfers and withdrawals from Ivy Bank Savings accounts may be limited to a total of six per calendar month. We may refuse any withdrawal or transfer request which does not conform to these rules, is greater in number than the frequency permitted, or which is for an amount greater or less than any withdrawal limitations that we have set. " https://www.ivybank.com/handbook#withdrawals
Last edited by Beat2Def November 29, 2023 at 01:41 PM.

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Pro
Nov 30, 2023
188 Posts
Joined Nov 2016
Nov 30, 2023
lalakers
Pro
Nov 30, 2023
188 Posts
Quote from Beat2Def :
Six times a year or six times a month?

"Transfers and withdrawals from Ivy Bank Savings accounts may be limited to a total of six per calendar month. We may refuse any withdrawal or transfer request which does not conform to these rules, is greater in number than the frequency permitted, or which is for an amount greater or less than any withdrawal limitations that we have set. " https://www.ivybank.com/handbook#withdrawals
Ah looks like per month. Not sure why I was reading per year lol. Most likely I will give this a try.
Nov 30, 2023
121 Posts
Joined Feb 2010
Nov 30, 2023
h0y
Nov 30, 2023
121 Posts
For some reason, not available for Californians. :-(
Jan 1, 2024
586 Posts
Joined Nov 2014
Jan 1, 2024
mak_436
Jan 1, 2024
586 Posts
Any recommendations on trustworthy banks which is giving 5% or more ? Ivy, usb direct etc ?
Jun 4, 2024
170 Posts
Joined Nov 2017
Jun 4, 2024
smarty75
Jun 4, 2024
170 Posts
Ivy bank updated that rate is now guaranteed thru 9/30/2024

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