Cambridge Savings Bank

For information concerning Ivy Bank, a division of Cambridge Savings Bank online bank, please click here.

Cambridge Savings Bank is an FDIC insured institution headquartered at 1374 Massachusetts Ave, Cambridge, MA 02138.
It was founded in 1834 and has approximately $7 billion in assets. Customers can open an account at one of its 20 branches.

Deposit Rates - June 24, 2024

SAVINGS RATES APY MIN
CD RATES APY MIN
6 Mo CD
0.25% $10,000 Compare
6 Mo CD
0.25% $100,000 Compare
12 Mo CD
0.50% $10,000 Compare
12 Mo CD
0.50% $100,000 Compare
24 Mo CD
0.75% $10,000 Compare
24 Mo CD
0.75% $100,000 Compare
36 Mo CD
0.75% $10,000 Compare
36 Mo CD
0.75% $100,000 Compare
60 Mo CD
0.75% $10,000 Compare
60 Mo CD
0.75% $100,000 Compare
MM RATES APY MIN
Money Market
0.10% $2,500 Compare
Money Market
0.15% $10,000 Compare
Money Market
0.15% $25,000 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.05% $2,500

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 17870
Date Established 1834
Assets $ 6.87 billion
Loans $ 5.63 billion
Deposits $ 5.38 billion
Capital $ 604.43 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 118.00 million
Interest-bearing balances $ 77.84 million
Total securities $ 722.36 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 5.63 billion
Loan loss allowance $ 52.38 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 25.08 million
All other assets $ 239.84 million
     Total Assets $ 6.26 billion

LIABILITIES
Total deposits $ 5.38 billion
      Interest-bearing deposits $ 4.43 billion
      Deposits held in domestic offices $ 5.38 billion
      % insured (estimated) 69.29%
Federal funds purchased and repurchase agreements $ 16.75 million
Trading liabilities N.A.
Other borrowed funds $ 656.48 million
Subordinated debt N.A.
All other liabilities $ 78.05 millionn
      Total Liabilities $ 6.26 billion
      Shareholders’ Equity $ 604.43 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 313.73 million
Total Interest Expense $ 147.56 million
Net interest income $ 166.17 million
Provision for loan and lease losses $ 7.67 million
Total non interest income $ 11.13 million
Total non interest expense $ 136.10 million
Pre-tax Net Operating Income $ 31.48 million

Customer Reviews for Cambridge Savings Bank (5)

Rated 4.60 stars out of 5 - based on 5 reviews
  • Indexed savings product from this bank is now 5.71%. Better than anything else on this site or available anywhere.

  • I don't know why sites like this aren't pointing this out, but you can get a much higher rate from this bank in their 1-month indexed US Treasury. For July it is paying 5.31% and it was up above 5.805 in June. There is no reason not to do this, especially since you can always move back to 4.80% and the bank is excellent.

  • Sometimes slow to raise the rate, but they always do. Service is fine. Would be five stars but transfers take days.

  • Quite pleased with this one so far. Rate is consistently above anything else. I am just hoping they continue to be in the top tier of competitiveness!

  • I opened an account through this site. It was easy to open and to fund. Nice to see that the rate stays as one of the best. I hope it continues.


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Branches

Click on location and enter new zip number to change.
Your current location is: Ashburn, VA

Cambridge Savings Bank Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL CD
    Bank
    MASSACHUSETTS
    $50,000
    6 Month
    0.25%
    0.62x (National Avg. - 0.40%)
    $10,000
    -
    SCENARIO
    Year Rate
    0.25%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 125 88
    2 50,125 125 88
    3 50,250 126 88
    4 50,376 126 88
    5 50,502 126 88
    6 50,628 127 89
    7 50,755 127 89
    8 50,882 127 89
    9 51,009 128 89
    10 51,136 128 89
    11 51,264 128 90
    12 51,392 128 90
    13 51,521 129 90
    14 51,650 129 90
    15 51,779 129 91
    16 51,908 130 91
    17 52,038 130 91
    18 52,168 130 91
    19 52,298 131 92
    20 52,429 131 92
    TOTAL $2,560 $1,792
  • 2
    LOCAL CD
    Bank
    -
    $50,000
    7 Month
    5.25%
    N.A.
    $5,000
    -
    SCENARIO
    Year Rate
    5.25%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,625 1,838
    2 52,625 2,763 1,934
    3 55,388 2,908 2,036
    4 58,296 3,061 2,142
    5 61,356 3,221 2,255
    6 64,577 3,390 2,373
    7 67,968 3,568 2,498
    8 71,536 3,756 2,629
    9 75,292 3,953 2,767
    10 79,244 4,160 2,912
    11 83,405 4,379 3,065
    12 87,784 4,609 3,226
    13 92,392 4,851 3,395
    14 97,243 5,105 3,574
    15 102,348 5,373 3,761
    16 107,721 5,655 3,959
    17 113,377 5,952 4,167
    18 119,329 6,265 4,385
    19 125,594 6,594 4,616
    20 132,187 6,940 4,858
    TOTAL $89,127 $62,389
  • 3
    LOCAL CD
    Bank
    -
    $50,000
    13 Month
    5.35%
    N.A.
    $5,000
    -
    SCENARIO
    Year Rate
    5.35%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,675 1,873
    2 52,675 2,818 1,973
    3 55,493 2,969 2,078
    4 58,462 3,128 2,189
    5 61,590 3,295 2,307
    6 64,885 3,471 2,430
    7 68,356 3,657 2,560
    8 72,013 3,853 2,697
    9 75,866 4,059 2,841
    10 79,925 4,276 2,993
    11 84,201 4,505 3,153
    12 88,705 4,746 3,322
    13 93,451 5,000 3,500
    14 98,451 5,267 3,687
    15 103,718 5,549 3,884
    16 109,267 5,846 4,092
    17 115,113 6,159 4,311
    18 121,271 6,488 4,542
    19 127,759 6,835 4,785
    20 134,594 7,201 5,041
    TOTAL $91,795 $64,256