Ion Bank savings, CD and money market rates
Ion Bank advertises up to 1.80% APY on its Ka-Ching! Savings Account. The 1.80% needs a balance of at least $100,000. Below that, the account advertises 0.45%.
A checking account at the bank is required. On a $10,000 balance the account earns 1.10% overall, about $110 in a year, which is 0.73 percentage points above the national savings average of 0.37% (FDIC, Sep 2026).
Ranked #527 of 2786 tracked savings rates by advertised APY. For a $10,000 balance it would rank #456.
Ion Bank at a glance
| Savings | |
|---|---|
| Top savings APY | Up to 1.80% · Ka-Ching! Savings Account · needs at least $100,000 · checking account required |
| Minimum to open | $0 · Ka-Ching! Savings Account |
| Against the national average | 1.43 percentage points above the 0.37% FDIC savings average (Sep 2026) |
| CDs | |
| Top CD APY | 4.00% · 25 months · 25 Month Certificate |
| Minimum to open | $500 · 25 months CD |
| Against the national average | 2.39 percentage points above the 1.61% FDIC 24-month CD average (Sep 2026) |
| Money market | |
| Top money market APY | Up to 1.15% · Money Market Account · needs at least $250,000 |
| Minimum to open | $1,000 · Money Market Account |
| Against the national average | 0.52 percentage points above the 0.63% FDIC money market average (Sep 2026) |
| FDIC certificate | 18198 · Naugatuck, CT |
|---|---|
| Website | www.ionbank.com |
| Branches | 37 branches in CT, NJ |
| Availability | Available in CT, NJ |
Ion Bank savings, CD and money market rates
Personal
How the rate applies
How the rate applies
How the rate applies
How the rate applies
How the rate applies
IRA
Rates are APY. The national savings average is 0.37% (FDIC, Sep 2026). The top tracked savings rate on Banksparency is 5.50%. Across 59 savings accounts from 58 banks in the Banksparency core savings index, the median advertised rate is 3.65%, and one account in ten advertises 4.16% or more. See the highest savings rates.
Ion Bank CD rates
| Term | APY | Minimum | Product |
|---|---|---|---|
| Personal CDs | |||
| 3 months | 3.70% | $500 | 3 Month Certificate |
| 6 months | 1.00% | $500 | 6 Month Certificate |
| 9 months | 1.00% | $500 | 9 Month Certificate |
| 12 months | 1.00% | $500 | 12 Month Certificate |
| 18 months | 1.00% | $500 | 18 Month Certificate |
| 24 months | 1.00% | $500 | 24 Month Certificate |
| 25 months | 4.00% | $500 | 25 Month Certificate |
| 30 months | 0.80% | $500 | 30 Month Certificate |
| 36 months | 0.85% | $500 | 36 Month Certificate |
| 48 months | 0.85% | $500 | 48 Month Certificate |
| 60 months | 1.00% | $500 | 60 Month Certificate |
| IRA CDs | |||
| 3 months | 3.70% | $500 | IRA 3 Month Certificate |
| 6 months | 1.00% | $500 | IRA 6 Month Certificate |
| 9 months | 1.00% | $500 | IRA 9 Month Certificate |
| 12 months | 1.00% | $500 | IRA 12 Month Certificate |
| 18 months | 1.00% | $500 | IRA 18 Month Certificate |
| 24 months | 1.00% | $500 | IRA 24 Month Certificate |
| 25 months | 4.00% | $500 | IRA 25 Month Certificate |
| 30 months | 0.80% | $500 | IRA 30 Month Certificate |
| 36 months | 0.85% | $500 | IRA 36 Month Certificate |
| 48 months | 0.85% | $500 | IRA 48 Month Certificate |
| 60 months | 1.00% | $500 | IRA 60 Month Certificate |
Interactive Tool
Calculate Savings for Ion Bank
All calculations are based on APY.
Savings Breakdown
- Interest Earned+$289.40(2.0%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$14,289.40
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What Ion Bank pays on deposits
FDIC call report data
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
The two figures answer different questions, so they sit side by side and are not combined. The 1.80% needs a balance of at least $100,000. Below that, the account advertises 0.45%.
In Q2 2026, Ion Bank paid a higher average rate on savings and money market deposits than 40% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
- Ion Bank, savings and money market
- All-bank median
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
So what is the catch?
| Product | APY | Min to open | Min to earn | Balance cap | Monthly fee | Requirements | Rate type | 12-mo trend |
|---|---|---|---|---|---|---|---|---|
| Ka-Ching! Savings Account | 1.80% | $0 | $50 | None | not stated | Checking account · direct deposit not stated | Tiered | |
| Fine print: The rate needs one Ion Bank debit card purchase over $50 each statement cycle, or the Statement Savings rate may apply. An Ion Bank personal checking account and debit card are required. | ||||||||
| Statement Savings | 0.80% | $50 | $50 | None | not stated | not stated | Tiered | |
| eSavings | 0.20% | $50 | $50 | None | not stated | not stated | Tiered | |
| Health Savings Account | 0.10% | $0 | $50 | None | not stated | not stated | Tiered | |
| Money Market Account | 1.15% | $1,000 | $50 | None | not stated | not stated | Tiered | |
Rate type: one rate applies at every balance. A tiered rate changes with your balance. A promotional rate changes after the period shown. A balance cap is the largest balance the highest rate applies to.
The 12-month trend shows the highest advertised rate observed each day and includes promotional tiers where one applied.
CDs
| Product | Term | APY | Min to open | Early withdrawal fee | Compounding |
|---|---|---|---|---|---|
| Personal CDs | |||||
| 3 Month Certificate | 3 months | 3.70% | $500 | not stated | not stated |
| 6 Month Certificate | 6 months | 1.00% | $500 | not stated | not stated |
| 9 Month Certificate | 9 months | 1.00% | $500 | not stated | not stated |
| 12 Month Certificate | 12 months | 1.00% | $500 | not stated | not stated |
| 18 Month Certificate | 18 months | 1.00% | $500 | not stated | not stated |
| 24 Month Certificate | 24 months | 1.00% | $500 | not stated | not stated |
| 25 Month Certificate | 25 months | 4.00% | $500 | not stated | not stated |
| 30 Month Certificate | 30 months | 0.80% | $500 | not stated | not stated |
| 36 Month Certificate | 36 months | 0.85% | $500 | not stated | not stated |
| 48 Month Certificate | 48 months | 0.85% | $500 | not stated | not stated |
| 60 Month Certificate | 60 months | 1.00% | $500 | not stated | not stated |
| IRA CDs | |||||
| IRA 3 Month Certificate | 3 months | 3.70% | $500 | not stated | not stated |
| IRA 6 Month Certificate | 6 months | 1.00% | $500 | not stated | not stated |
| IRA 9 Month Certificate | 9 months | 1.00% | $500 | not stated | not stated |
| IRA 12 Month Certificate | 12 months | 1.00% | $500 | not stated | not stated |
| IRA 18 Month Certificate | 18 months | 1.00% | $500 | not stated | not stated |
| IRA 24 Month Certificate | 24 months | 1.00% | $500 | not stated | not stated |
| IRA 25 Month Certificate | 25 months | 4.00% | $500 | not stated | not stated |
| IRA 30 Month Certificate | 30 months | 0.80% | $500 | not stated | not stated |
| IRA 36 Month Certificate | 36 months | 0.85% | $500 | not stated | not stated |
| IRA 48 Month Certificate | 48 months | 0.85% | $500 | not stated | not stated |
| IRA 60 Month Certificate | 60 months | 1.00% | $500 | not stated | not stated |
Fine print for 2 CDs above: The bank accepts a maximum deposit of $250,000 in this certificate, and it is offered to consumers only.
Opening and using the account
| Availability | Available in CT, NJ |
|---|---|
| Footprint | 37 branches in CT, NJ |
| Eligibility | not stated |
How Ion Bank behaves over time
- 12-month high
- 1.80%
- 12-month low
- 1.65%
- Advertised now
- 1.80%
- At the 12-month high
- Observed cuts, 12 months
- 0
- In a window with 2 Federal Reserve cuts
The advertised Ka-Ching! Savings Account rate, observed through Oct 7, 2026. The series includes promotional tiers where one applied.
Recent rate changes, as observed
- Obs. Sep 23, 202625 Month CertificateRaise:3.25%to4.00%
- Ka-Ching! Savings Account
- Up 0.15 percentage points from 7 days ago.
- 25 months CD
- Up 0.75 percentage points from 30 days ago.
- Money Market Account
- The same as 30 days ago.
$10,000 at the 1.80% APY Ion Bank advertises on Ka-Ching! Savings Account grows to $10,180 in a year. Prices rose 3.4% in the year to August 2026 (Consumer Price Index (CPI)). After a year of prices rising at that pace, it buys as much as $9,845 does today. See how the federal funds rate shapes savings rates.
- Ka-Ching! Savings Account APY
- Banksparency savings index
Ion Bank CD rates over time
Who is Ion Bank?
| Headquarters | Naugatuck, CT |
|---|---|
| Founded | 1870 |
| Scale | $2.8B assets · $2.3B deposits, $1.6B of it interest-bearing (Q2 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 18198 |
| Charter state | Connecticut · one of 27 insured banks chartered there (Q2 2026, FDIC) |
| Size | 458th-largest by deposits of 4,238 insured banks (Q2 2026, FDIC) |
| Deposit growth | Higher than at 22% of 4,226 insured banks over the four quarters to Q2 2026 (FDIC) |
Financial detail is in What Ion Bank pays on deposits above.
Common questions about Ion Bank
Is Ion Bank FDIC insured?
Yes. Ion Bank is FDIC insured under certificate 18198, so deposits are covered up to $250,000 per depositor, per ownership category.
What is the minimum deposit at Ion Bank?
Ion Bank requires no minimum deposit to open its Ka-Ching! Savings Account, as observed on Oct 7, 2026. Check the bank's current terms before you open an account.
Does the 1.80% apply to my whole balance?
The 1.80% needs a balance of at least $100,000. Below that, the account advertises 0.45%. A checking account at the bank is required. Rates are as observed on Oct 7, 2026.
Does Ion Bank have branches?
Yes. Ion Bank operates 37 branches according to FDIC branch records, in addition to its website and mobile apps.
Ion Bank against its closest alternatives
| Bank | Savings APY | Rate paid on savings and money market deposits (Q2 2026) | Min deposit | Branches |
|---|---|---|---|---|
| Ion Bank | 1.80% | 1.19% | $0 | 37 branches in CT, NJ |
| InFirst Bank | 1.80% | 1.90% | $0 | 11 branches in PA |
| The First National Bank of Ely | 1.81% | 2.01% | $2,500 | 1 branch in NV |
| First Piedmont Federal Savings and Loan Association of Gaffney | 1.77% | 1.66% | $150 | 7 branches in SC |
Each savings APY is the top rate of the account the bank's own page leads with. Alternatives are the three tracked banks whose savings APY is closest to Ion Bank's.
Similar banks and related pages
Banks in the same rate band with the same product mix:
Other banks chartered in Connecticut, nearest to Ion Bank in deposits:
Rate hubs: today's highest savings rates, CD rates by term, and money market rates.