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When it comes to saving money, everyone wants a high yield account that requires minimal effort. The Ivy Bank Indexed Savings Account is the perfect solution for these savers.
Update 3/8/2023: New customers can sign-up for their Indexed Savings Account. APY now 4.75%.
With its competitive rate and monthly reset, it’s a great option for anyone looking for a steady return without having to constantly move money from bank to bank.
Competitive Rate Without Hassle
The Ivy Bank Indexed Savings Account offers a rate of 4.75% APY, which resets at the beginning of each calendar month and is indexed to the One-Month Treasury Yield. This makes it easy for savers to keep up with rate changes and get the best return on their investment.
With a minimum opening balance of $2,500 and a minimum balance to earn the indexed rate and yield, it’s a great option for savers of all sizes. Additionally, the funds in this account are FDIC insured, providing peace of mind for savers.
Rate as of 3/8/2023: Please check their website for current rates
READ MORE: See The Best Nationwide Savings & Money Market Rates Here
Ivy Bank’s High Yield Accounts
Ivy Bank has been offering high yield savings accounts for some time now and has done a great job of keeping up with rate increases to match the top rates in the market.
This indexed account is a specialty product for those who want a rate that matches the monthly Treasury yield. It’s a simple solution for those who are more familiar with traditional savings accounts and want to take advantage of the Treasury yield without having to lock up funds for 30 days.
The Good & The Bad
PROS:
- High yield rate
- Monthly rate reset
- FDIC insured
- No funds locked up
CONS:
- Not exempt from state and local taxes
Why Choose Ivy Bank Indexed Savings Account?
The Ivy Bank Indexed Savings Account offers savers a great return on their investment without having to constantly move money from bank to bank. With its monthly rate reset, savers can be confident that they are getting the best return possible.
Additionally, the fact that the funds are FDIC insured provides peace of mind for savers. At the end of the day, this is a great option for anyone looking for a high yield savings account.
Bottom Line
When it comes to saving money, everyone wants the best return possible with the least amount of effort. The Ivy Bank Indexed Savings Account provides just that, with its high yield rate, monthly rate reset, and FDIC insured funds.
While it may not be exempt from state and local taxes, it’s still a great option for those looking for a steady return on their investment.
Frequently Asked Questions (FAQ)
Q: What is the Ivy Bank Indexed Savings Account?
A: The Ivy Bank Indexed Savings Account is a high yield savings account that is designed for savers who want a competitive rate without having to frequently move money from bank to bank.
Q: When does the rate reset?
A: The rate resets at the beginning of each calendar month.
Q: What is the minimum balance for the Ivy Bank Indexed Savings Account?
A: The minimum balance for the Ivy Bank Indexed Savings Account is $2,500.
Q: Is the Ivy Bank Indexed Savings Account FDIC insured?
A: Yes, the Ivy Bank Indexed Savings Account is FDIC insured.
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