Forbright Bank
Last Updated: 4/2/2025
Note: Interest rates below are reported as APY, or Annual Percentage YieldQuick Views
Growth Savings: 4.25% APY(Rank 31 out of 75 HYSAs)
Minimum Deposit: $0 | Online Only
Bright Savings: 3.00% - 3.90% APY(Rank 57 out of 75 HYSAs)
Minimum Deposit: $250 | Eligible States: Limited (see below)
Sprout Savings: 0.80% - 3.90% APY(Rank 58 out of 75 HYSAs)
Minimum Deposit: $1 | Eligible States: Limited (see below)
National Savings Interest Rate: 0.41% (as of 3/17/2025)
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: 4.7/5
Google Play Rating: 4.4/5
Website: Visit Forbright Bank
Savings Accounts
Savings Accounts Offered by Forbright Bank
| Feature | Growth Savings | Bright Savings | Sprout Savings |
|---|---|---|---|
| APY | 4.25% (as of 4/2/2025) | 3.00% - 3.90% (as of 4/2/2025) | 0.80% - 3.90% (as of 4/2/2025) |
| APY Trend | Stable | Stable | Stable |
| Minimum Deposit | $0 | $250 | $1 |
| Minimum Balance for APY | $0 | $250,000 | $0.01 |
| FDIC-insured | Yes | Yes | Yes |
| Online Only | Yes | No | No |
| Bundled Account | No | No | No |
| Direct Deposit Required | No | No | No |
| Compound Frequency | Daily | Daily | Daily |
| Maintenance Fee | $0 | $0 | $0 |
| Eligibility | United States | This account must be opened in a Forbright branch (Washington, D.C. metro area) | This 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) |
| Note | N/A | This 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. | This 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. |
No deposit agreement summary available for this bank. | |||
Calculate Savings for Forbright Bank
Total savings breakdown:
- Interest earned: $4 (3.85%)
- Total contributions: $0 (0.00%)
- Initial deposit: $100 (96.15%)
Your total balance
$104.00
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
| Metric | Sprout Savings | Bright Savings | Growth Savings |
|---|---|---|---|
| Highest APY | 3.90% | 3.90% | 4.60% |
| Lowest APY | 3.90% | 3.90% | 4.25% |
| Latest APY | 3.90% | 3.90% | 4.25% |
| Trend | Stable | Stable | Decreasing |
| Volatility | 0.00% | 0.00% | 0.12% |
Compare Forbright Bank's Savings Accounts
- Affirm - 3.85% APY
- All America Bank - 1.50-3.49% APY
- Ally Bank - 3.60% APY
- Amalgamated Bank - 2.25% APY
- American Express - 3.70% APY
- Axos Bank - 4.66% APY
- Bank5 Connect - 4.15% APY
- Bank of America - 0.01% APY
- Barclays - 4.15-4.40% APY
- Bask Bank - 4.35% APY
- Betterment - 4.00% APY
- BMO Alto - 3.70% APY
- Bread Savings - 4.40% APY
- BrioDirect - 4.50% APY
- Capital One - 3.70% APY
- Carver Bank - 4.00% APY
- Charles Schwab Bank - 0.15% APY
- Chase Bank - 0.01% APY
- Chime - 2.00-3.75% APY
- CIBC Bank USA - 4.21% APY
- CIT Bank - 0.25-4.10% APY
- Citibank - 3.70% APY
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- ROGER - 5.00% APY
- Salem Five Direct - 4.01% APY
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- Santander Bank - 0.03% APY
- SoFi Bank - 3.80% APY
- Synchrony Bank - 4.00% APY
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- TD Bank - 0.05-3.51% APY
- The State Exchange Bank - 1.90% APY
- TIMBR - 4.55% APY
- UFB Direct - 4.01-4.21% APY
- Upgrade - 4.02% APY
- Valley Direct - 4.30% APY
- Varo Bank - 2.50-5.00% APY
- Western Alliance Bank - 4.25% APY
- Zynlo Bank - 4.35% APY
| Feature | Forbright Bank | Select a bank... |
|---|---|---|
| Product | N/A | |
| APY | 4.25% (as of 4/2/2025) | N/A |
| Bundled Account | No | N/A |
| FDIC-insured | Yes | N/A |
| Online Only | Yes | N/A |
| Compound Frequency | Daily | N/A |
| Minimum Deposit | $0 | N/A |
| Minimum Balance for APY | $0 | N/A |
| Maintenance Fee | $0 | N/A |
| Direct Deposit Required | No | N/A |
Forbright Bank vs. Major Banks: Savings Accounts
Click on the items below to view the comparisons
| Feature | Forbright Bank | Bank of America | ||
|---|---|---|---|---|
| Growth Savings | Bright Savings | Sprout Savings | Advantage Savings | |
| APY | 4.25% APY) (as of 4/2/2025) | 3.00% - 3.90% APY) (as of 4/2/2025) | 0.80% - 3.90% APY) (as of 4/2/2025) | 0.01% APY (as of 4/2/2025) |
| Bundled Account | No | No | No | No |
| FDIC-insured | Yes | Yes | Yes | Yes |
| Online Only | Yes | No | No | No |
| Compound Frequency | Daily | Daily | Daily | Monthly |
| Minimum Deposit | $0 | $250 | $1 | $100 |
| Minimum Balance for APY | $0 | $250,000 | $0.01 | N/A |
| Maintenance Fee | $0 | $0 | $0 | $8 |
| Direct Deposit Required | No | No | No | No |
| Eligibility | United States | This account must be opened in a Forbright branch (Washington, D.C. metro area) | This 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 States |
| Note | N/A | This 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. | This 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. | APY may vary by market. The monthly fee may be waived under some circumstances, such as if you maintain a minimum balance of $500, or are below the age of 25, etc. |
| Feature | Forbright Bank | Citibank | |||
|---|---|---|---|---|---|
| Growth Savings | Bright Savings | Sprout Savings | Citi® Savings Account | Citi Accelerate Savings | |
| APY | 4.25% APY) (as of 4/2/2025) | 3.00% - 3.90% APY) (as of 4/2/2025) | 0.80% - 3.90% APY) (as of 4/2/2025) | 0.03% APY (as of 4/2/2025) | 3.70% APY |
| Bundled Account | No | No | No | No | No |
| FDIC-insured | Yes | Yes | Yes | Yes | Yes |
| Online Only | Yes | No | No | No | Yes |
| Compound Frequency | Daily | Daily | Daily | Daily | Daily |
| Minimum Deposit | $0 | $250 | $1 | $0 | $0 |
| Minimum Balance for APY | $0 | $250,000 | $0.01 | $0.01 | $0.01 |
| Maintenance Fee | $0 | $0 | $0 | $4.50. Waived for average monthly balances > $500 | $4.50. Waived for average monthly balances > $500 |
| Direct Deposit Required | No | No | No | No | No |
| Eligibility | United States | This account must be opened in a Forbright branch (Washington, D.C. metro area) | This 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) | California, Connecticut, Maryland, Nevada, New Jersey, New York, Virginia (partial), Washington D.C., and select parts of Florida and Illinois. In addition, promotional rates may be available if requirements are met. | Alaska, Alabama, Arkansas, Arizona, Colorado, Delaware, Florida (select parts), Georgia, Hawaii, Iowa, Idaho, Illinois (select parts), Indiana, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia (partial), Washington (partial), Wisconsin, West Virginia, Wyoming. |
| Note | N/A | This 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. | This 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/A | N/A |
| Feature | Forbright Bank | Chase Bank | ||
|---|---|---|---|---|
| Growth Savings | Bright Savings | Sprout Savings | Chase Savings℠ | |
| APY | 4.25% APY) (as of 4/2/2025) | 3.00% - 3.90% APY) (as of 4/2/2025) | 0.80% - 3.90% APY) (as of 4/2/2025) | 0.01% APY (as of 4/2/2025) |
| Bundled Account | No | No | No | No |
| FDIC-insured | Yes | Yes | Yes | Yes |
| Online Only | Yes | No | No | No |
| Compound Frequency | Daily | Daily | Daily | Monthly |
| Minimum Deposit | $0 | $250 | $1 | $0 |
| Minimum Balance for APY | $0 | $250,000 | $0.01 | $0 |
| Maintenance Fee | $0 | $0 | $0 | $5 |
| Direct Deposit Required | No | No | No | No |
| Eligibility | United States | This account must be opened in a Forbright branch (Washington, D.C. metro area) | This 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 States |
| Note | N/A | This 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. | This 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. | APY may vary by market. The maintenance fee may be waived under some circumstances, such as if the account balance is maintained with at least $300 each day, or you set up automatic transfers from a linked Chase account, etc. |
| Feature | Forbright Bank | Capital One | ||
|---|---|---|---|---|
| Growth Savings | Bright Savings | Sprout Savings | 360 Performance Savings | |
| APY | 4.25% APY) (as of 4/2/2025) | 3.00% - 3.90% APY) (as of 4/2/2025) | 0.80% - 3.90% APY) (as of 4/2/2025) | 3.70% APY (as of 4/2/2025) |
| Bundled Account | No | No | No | No |
| FDIC-insured | Yes | Yes | Yes | Yes |
| Online Only | Yes | No | No | No |
| Compound Frequency | Daily | Daily | Daily | Daily |
| Minimum Deposit | $0 | $250 | $1 | $0 |
| Minimum Balance for APY | $0 | $250,000 | $0.01 | $0 |
| Maintenance Fee | $0 | $0 | $0 | $0 |
| Direct Deposit Required | No | No | No | No |
| Eligibility | United States | This account must be opened in a Forbright branch (Washington, D.C. metro area) | This 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 States |
| Note | N/A | This 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. | This 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/A |
Alternatives to Forbright Bank
Banks with Higher/Similar Savings APY
For a top list of the highest savings rates, see all HYSA top rates
Barclays
Tiered Savings: 4.40% APY
Minimum Deposit: $0
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Minimum Deposit: $0
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High-Yield Savings Account: 4.40% APY
Minimum Deposit: $100
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BrioDirect
High-Yield Savings Account: 4.50% APY
Minimum Deposit: $5,000
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EverBank
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Minimum Deposit: $1,000
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Banks Offering Bundled Savings & Checking
For a top list, see Bundled High-Yield Savings & Checking Accounts
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Fitness Bank
Fitness Savings Account: 4.55% APY
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OMB Bank
High Interest Online Savings Account: 4.56% APY
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Presidential Bank
Advantage Savings: 4.50% APY
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Direct Deposit: To earn the higher APY you need a monthly direct deposit into an Advantage Checking Account of $500.
ROGER
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Banks with Branch Access
For a top list, see High-Yield Savings Accounts with In-Person Access
All America Bank
Regular Savings: 1.50% APY
Minimum Deposit: $50
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Minimum Deposit: $2,500
Amalgamated Bank
Online Savings: 2.25% APY
Minimum Deposit: $100
Bank of America
Advantage Savings: 0.01% APY
Minimum Deposit: $100
Capital One
360 Performance Savings: 3.70% APY
Minimum Deposit: $0
Charles Schwab Bank
Schwab Bank Investor Savings™: 0.15% APY
Minimum Deposit: $0
Chase Bank
Chase Savings℠: 0.01% APY
Minimum Deposit: $0