The product CD 3-year Account from Ivy Bank, a division of Cambridge Savings Bank with 3.25% 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 $27,538. The interest earned would be $7,538 and the tax amount on the interest earned would be approximately $2,261.
Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.
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.
| Rate: 0.75% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 151 | 106 |
| 2 | 20,151 | 152 | 106 |
| 3 | 20,303 | 153 | 107 |
| 4 | 20,456 | 154 | 108 |
| 5 | 20,610 | 155 | 109 |
| 6 | 20,765 | 157 | 110 |
| 7 | 20,922 | 158 | 110 |
| 8 | 21,080 | 159 | 111 |
| 9 | 21,239 | 160 | 112 |
| 10 | 21,399 | 161 | 113 |
| TOTAL: | $1,560 | $1,092 |
| Rate: 3.25% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 650 | 455 |
| 2 | 20,650 | 671 | 470 |
| 3 | 21,321 | 693 | 485 |
| 4 | 22,014 | 715 | 501 |
| 5 | 22,730 | 739 | 517 |
| 6 | 23,468 | 763 | 534 |
| 7 | 24,231 | 788 | 551 |
| 8 | 25,018 | 813 | 569 |
| 9 | 25,832 | 840 | 588 |
| 10 | 26,671 | 867 | 607 |
| TOTAL: | $7,538 | $5,277 |
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.
| Date | APY |
|---|---|
| March 6, 2025 | 3.25% |
| August 16, 2024 | 3.60% |
| August 20, 2023 | 3.25% |
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
4.55% |
$5,000 |
Learn More | |
|
Last change: ↑0.15% on March 22. |
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|
|
4.55% |
$1,000 |
Learn More | |
|
Last change: ↓0.50% on October 1, 2024. |
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|
|
4.50% |
$500 |
Learn More | |
|
Last change: ↑0.20% on January 18. |
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|
|
4.50% |
$1,500 |
Learn More | |
|
Last change: ↓0.15% on January 25. |
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|
|
4.50% |
$500 |
Learn More | |
|
Last change: ↓0.50% on February 25. |
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Customer Reviews for Ivy Bank, a division of Cambridge Savings Bank (33)
lrcbob
July 26, 2024 |
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.
Is this review helpful? Yes:0 / No: 0
TerryGord1973
July 9, 2023 | | Replies 1
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?
Is this review helpful? Yes:0 / No: 0
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.
TerryGord1973
June 10, 2023 |
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?)
Is this review helpful? Yes:0 / No: 0
Jp
May 1, 2023
Was rejected for account because I live in California. Is this another case of thinking CA is Canada?
Is this review helpful? Yes:0 / No: 0
supersaver1
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!
Is this review helpful? Yes:0 / No: 0
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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