Compound Interest Calculator
CD 3-year Account from Ivy Bank, a division of Cambridge Savings Bank with 3.60% APY and $0 minimum deposit



Use or Change These Amounts and Rates

The product CD 3-year Account from Ivy Bank, a division of Cambridge Savings Bank with 3.60% APY and $0 minimum deposit and a tax rate of 30 compounded annually, with an initial amount of $20,000, after 10 years would have grown your savings to approximately $28,486. The interest earned would be $8,486 and the tax amount on the interest earned would be approximately $2,546.

Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for Ivy Bank, a division of Cambridge Savings Bank

Savings Boost of
$4,854 over 10 years
Cash Savings $20,000
Average Interest Earned $1,086

 
Ivy Bank, a division of Cambridge Savings Bank Interest Earned $5,940

 

 

See comparison detail table

This analysis is for demonstrative purposes only and may change should certain assumptions prove incorrect. Savings rates may change and CD rates may not be renewable for the length of the term of the analysis. The difference between the bank rate entered and the average rate may not remain constant throughout the term.

Comparison Detail Table Close X

Average Rate Scenario

Rate:
0.75%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 150 105
2 20,150 151 106
3 20,301 152 107
4 20,453 153 107
5 20,607 155 108
6 20,761 156 109
7 20,917 157 110
8 21,074 158 111
9 21,232 159 111
10 21,391 160 112
TOTAL: $1,552 $1,086

Ivy Bank, a division of Cambridge Savings Bank Scenario

Rate:
3.60%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 720 504
2 20,720 746 522
3 21,466 773 541
4 22,239 801 560
5 23,039 829 581
6 23,869 859 601
7 24,728 890 623
8 25,618 922 646
9 26,540 955 669
10 27,496 990 693
TOTAL: $8,486 $5,940

Take Action

The accounts below offer some of the best rates in the country can be opened online, and are available nationally. As the calculator shows, changing accounts to earn a higher interest rate can really add up over time.


Recent Rate Changes



Date APY
August 16, 2024 3.60%
August 20, 2023 3.25%


Featured CD Rates

ONLINE BANKS APY? MIN?

Last change: ↑0.25% on October 28.
6 Month Jumbo CD.

Last change: ↓0.09% on October 17.
3 Month CD.

Last change: ↓0.15% on September 6.

Last change: ↓0.05% on September 27.

Last change: ↑0.20% on October 28.
Early Withdrawal Penalty is 3 months interest.



Customer Reviews for Ivy Bank, a division of Cambridge Savings Bank (33)


  • July 26, 2024 |

    Online Savings Rates

    Multiple roadblocks trying to set up a savings account with Ivy Bank and my application was ultimately declined, in spite of my multiple CDs among three banks, stock investments, eleven credit cards, and credits scores that have never been outside the 800s. I took my business elsewhere.

  • July 9, 2023 | | Replies 1

    Online Savings Rates

    Looks like indexed savings is now at 5.31%. Down, but it still beats anything else here. Why aren't you highlighting this for your readers?

    JayT | Sep 6, 2023

    It is something like 5.68% APY right now for September. Just cannot be beat by anything else on this site, unless you want to lock into a CD.

  • June 10, 2023 |

    Online Savings Rates

    i just checked and I could believe it but the indexed savings is now 5.80%. Wow! (I cannot imagine why this isn't being advertised here and Nerdwallet?)

  • May 1, 2023

    Online Savings Rates

    Was rejected for account because I live in California. Is this another case of thinking CA is Canada?

  • April 4, 2023 | Replies 2

    How Is The Rate Being Calculated ???

    So Ivy indexed has been a great option so far, BUT I am unsure how they calculate the rate.

    Last month Feb 28 One-Month U.S. Treasury Yield was 4.65%/ APY 4.75%, the same as the interest rate/APY

    March 01, 2023 4.67%
    February 28, 2023 4.65%

    This month you can see the rates

    April 03, 2023 4.70%
    March 31, 2023 4.74%
    March 30, 2023 4.74%

    They announced the month's rate as 4.23 %/APY 4.32%, and I am really wondering how they calculate the rates. Hope to hear from them soon!

    KGS1234 | Apr 10, 2023

    The Indexed Account is set each month based on the what the One Month Treasury rate is on the 15th of the preceeding month. If you look at the advertisement small print it explains how it is determined.

    Ivy Bank | Apr 11, 2023

    Hi Supersaver1. You can find details on how the interest rate is calculated on the Indexed Savings Account Truth in Savings Disclosure page on our website under the ‘Determination of Rate’ section (https://www.ivybank.com/indexedtis). If you have further questions, please give us a call at 855.489.2265 or send us a private message with the best number to reach you at and a member of our team will reach out to you.


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