Forbright Bank

Last Updated: 7/1/2025

Note: Interest rates below are reported as APY, or Annual Percentage Yield

Quick Views

Growth Savings: 4.25% APY(Rank 26 out of 76 tracked HYSAs)

Minimum Deposit: $0 | Online Only

Sprout Savings: 0.80% - 3.90% APY(Rank 54 out of 76 tracked HYSAs)

Minimum Deposit: $1 | Eligible States: Limited (see below)

Bright Savings: 3.00% - 3.90% APY(Rank 55 out of 76 tracked HYSAs)

Minimum Deposit: $250 | Eligible States: Limited (see below)

National Savings Interest Rate: 0.38% (as of 6/16/2025)

Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.

(Source: FDIC)

Bank Overview

Location: Chevy Chase, Maryland

Founded: 2003

Affiliation: Forbright Bank was rebranded from Congressional Bank, Member FDIC, effective January 19, 2022

Access to Branches: Locations in the Washington D.C. area (Maryland and Virginia)

BBB Rating: A+ (BBB Accredited)

App Store Rating: 4.8/5

Google Play Rating: 4.6/5

Website: Visit Forbright Bank

Our Take on Forbright Bank

Highlights

  • Growth Savings offers a competitive APY of 4.25%.
  • Forbright Bank has an A+ BBB rating and is accredited.
  • App Store rating of 4.8 and Google Play rating of 4.6.
  • No maintenance fees on all savings accounts.

Considerations

  • Direct deposit is not required, which may limit some account options.
  • Sprout and Bright Savings accounts have lower APYs for higher balances.
  • Only available in the Washington D.C. area.
  • Minimum balance of $250,000 needed for top rate in Bright Savings.
Summary: Forbright Bank offers competitive savings accounts, particularly the Growth Savings account with an APY of 4.25%. It holds an A+ BBB rating, ensuring trustworthiness. However, the bank's offerings are limited to the Washington D.C. area, and higher balances in certain accounts yield lower APYs. All accounts have no maintenance fees, making them accessible options for savers. The bank's app ratings are also strong, enhancing user experience.

Savings Accounts

Savings Accounts Offered by Forbright Bank

FeatureSprout SavingsGrowth SavingsBright Savings
APY
0.80% - 3.90% (as of 7/1/2025)4.25% (as of 7/1/2025)3.00% - 3.90% (as of 7/1/2025)
APY TrendStable for the last monthStable for the last monthStable for the last month
Minimum Deposit$1$0$250
Minimum Balance for APY$0.01$0$250,000
FDIC-insured
YesYesYes
Online OnlyNoYesNo
Bundled Account
NoNoNo
Direct Deposit Required
NoNoNo
Compound Frequency
DailyDailyDaily
Maintenance Fee$0$0$0
EligibilityThis account is for children under 18 years old, where the account custodian is an existing customer. It must be opened in a Forbright branch (Washington, D.C. metro area)United StatesThis account must be opened in a Forbright branch (Washington, D.C. metro area)
NoteThis is a tiered savings account, where the highest rate is capped at a balance of $9,999. A lower APY of 0.80% is applied to balances above that. See bank for more details.N/AThis is a tiered savings account, where the highest rate is obtained by meeting a minimum balance of $250,000. A lower APY of 3.00% may be obtained with as little as $0.01 in balance. See bank for more details and all tiers.

No deposit agreement summary available for this bank.

Calculate Savings for Forbright Bank

All calculations are based on APY.
Deposit Frequency:

Total savings breakdown:

  • Interest earned: $4 (3.85%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $100 (96.15%)

Your total balance

$104.00

Effective APY: 4.25% (based on your deposit and contributions)

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

Forbright Bank Savings Rates Over Time

Historical APY Insights

MetricSprout SavingsBright SavingsGrowth Savings
Latest APY3.90 %3.90 %4.25 %
TrendSidewaysSidewaysSideways
Slope (bps/mo)-0.0-0.0-2.2
Rate Changes / Mo0.000.000.15
Days Since Last Change119119172
High (-6 m)3.90 %3.90 %4.60 %
Low (-6 m)3.90 %3.90 %4.25 %
Draw-down from High0.0 %0.0 %-7.6 %
Volatility (CV)0.0000.0000.020
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 6 months (regression slope).
Slope (bps/mo)
Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo
Typical number of APY moves per month.
Days Since Last Change
Recency of the latest APY adjustment.
High (-6 m)
Highest APY in the last 196 days.
Low (-6 m)
Lowest APY in the last 196 days.
Draw-down from High
How far today sits below the 6-month peak.
Volatility (CV)
Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
  • See how quickly a bank reacts to Fed moves or competition.
  • Gauge “twitchiness” - frequent moves can annoy savers.
  • Spot if you're buying near a peak (draw-down) or riding a rise.
  • Slope (bps/mo) shows speed of change.
  • Volatility (CV) scales jumps by average level.

Compare Forbright Bank's Savings Accounts

  • Affirm - 3.85% APY
  • All America Bank - 1.50-3.25% APY
  • Ally Bank - 3.50% APY
  • Amalgamated Bank - 2.25% APY
  • American Express - 3.60% APY
  • Axos Bank - 4.66% APY
  • Bank5 Connect - 4.05% APY
  • Bank of America - 0.01% APY
  • Barclays - 3.90-4.10% APY
  • Bask Bank - 4.20% APY
  • Betterment - 4.00% APY
  • BMO Alto - 3.60% APY
  • Bread Savings - 4.30% APY
  • BrioDirect - 4.30% APY
  • Capital One - 3.50% APY
  • Carver Bank - 4.00% APY
  • Charles Schwab Bank - 0.15% APY
  • Chase Bank - 0.01% APY
  • Chime - 1.25-3.75% APY
  • CIBC Bank USA - 4.11% APY
  • CIT Bank - 0.25-4.00% APY
  • Citibank - 3.60% APY
  • Citizens Access™ - 3.70% APY
  • Colorado Federal Savings Bank - 4.25% APY
  • ConnectOne Bank - 4.00% APY
  • Customers Bank - 4.23% APY
  • Discover Bank - 3.50% APY
  • E*TRADE from Morgan Stanley - 4.00% APY
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  • Evergreen Bank Group - 4.25% APY
  • First Foundation Bank - 4.25% APY
  • Fitness Bank - 5.00% APY
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  • FVCbank - 4.35% APY
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  • LendingClub - 3.40-4.40% APY
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  • Neighbors Bank - 4.60% APY
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  • Presidential Bank - 4.00-4.50% APY
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  • Quontic Bank - 3.75% APY
  • RBMAX - 4.15% APY
  • Rising Bank - 4.30% APY
  • ROGER - 4.65% APY
  • Salem Five Direct - 4.01% APY
  • Sallie Mae Bank - 3.90% APY
  • Santander Bank - 0.03% APY
  • SoFi Bank - 3.80% APY
  • Synchrony Bank - 3.80% APY
  • TAB Bank - 4.15% APY
  • TD Bank - 0.05-3.00% APY
  • The State Exchange Bank - 1.90% APY
  • TIMBR - 4.40% APY
  • UFB Direct - 4.01-4.21% APY
  • Upgrade - 4.02% APY
  • Valley Direct - 4.20% APY
  • Varo Bank - 2.50-5.00% APY
  • Western Alliance Bank - 4.30% APY
  • Zynlo Bank - 4.35% APY
FeatureForbright BankSelect a bank...
ProductN/A
APY
4.25% (as of 7/1/2025)N/A
Bundled Account
NoN/A
FDIC-insured
YesN/A
Online OnlyYesN/A
Compound Frequency
DailyN/A
Minimum Deposit$0N/A
Minimum Balance for APY$0N/A
Maintenance Fee$0N/A
Direct Deposit Required
NoN/A