Discover an online-only bank that specializes in high-interest savings accounts with financial management tools. This is our Ivy Bank High-Yield Savings account review.

Ivy Bank High-Yield Savings: 4.05% APY, $2,500 min balance, FDIC insured, financial management tool, and limited transfers/withdrawals. Read on and learn about this account’s features to decide whether it is for you.

Ivy Bank is an online-only institution that offers high-interest savings accounts to consumers across the nation. 

With backing from the Cambridge Savings Bank in Massachusetts, Ivy Bank established itself in 2021. 

It provides certificates of deposit (CDs) with competitive APYs and impressive financial management tools through its mobile app and online platform.

With a minimum balance of $2,500 required to open a savings account, and $1,000 for a CD, opening an account with Ivy may be challenging for some consumers. 

However, once you become a customer, you will have immediate access to Ivy’s sophisticated Money Management tool. 

This tool allows you to gain powerful insights into your full financial picture, enabling you to interact with your finances in a meaningful way.

Ivy’s High-Yield Savings Account offers a nationally competitive rate of 4.05% APY for a minimum balance of $2,500. 

For balances between $10 to $2,499, the APY is 0.5%. Additionally, Ivy Bank places a limit of six total transfers and withdrawals per calendar month on this account. 

Ivy Bank does not have physical branches, but it operates from 9 a.m. to 6 p.m. EST Monday through Friday and 10 a.m. until 2 p.m. ET on Saturday. 

Deposits have FDIC insurance, providing added security to your savings. 

All rates and fees are current as of December 6, 2022, and are subject to change.

Now that you are familiar with this account’s details, let’s have a look at its pros and cons. Our Ivy Bank High-Yield Savings account review would not be complete without it.

The Ivy Bank High-Yield Savings account does not have any credit requirements. Therefore, applicants for this account do not need to worry about credit checks.

Do you like what you have seen in this Ivy Bank High-Yield Savings account review? If so, you might want to take the next step and apply for this account.

Click the link below and we are going to show you how to do it.