Ivy Bank is an online-only bank that is backed by Massachusetts-based Cambridge Savings Bank. Established in 2021, Ivy’s primary focus is offering high-interest savings accounts to consumers across the country. The bank also offers certificates of deposit (CDs) with competitive APYs and an impressive suite of financial management tools through its mobile app and online platform.
Opening an account with Ivy may be challenging for some consumers, as its minimum balance requirements for savings is a steep $2,500, while the minimum for CDs is $1,000.
