Forbright Bank: Savings Accounts & Rates

Savings rates updated: 11/15/2025

Mission statement: Banksparency aims to make Forbright Bank's savings accounts transparent and comparable to those of other banks. .

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

We earn a commission if you open an account through some links on this page.

Savings Overview

Growth Savings: 4.00% APY(Rank 35 out of 86 tracked HYSAs)

Minimum Deposit: $0 | Online Only

Bright Savings: 2.75% - 3.65% APY(Rank 64 out of 102 savings accounts)

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

National Savings Interest Rate: 0.4% (as of 10/20/2025)

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)

Deposit Insurance: FDIC Cert # 57614

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 4.00%
Bright Savings allows for a $0 minimum deposit with a $250,000 balance for higher APY
A+ BBB rating indicates strong trustworthiness
High app rating of 4.8 on the App Store

Considerations

Bright Savings requires a $250 minimum deposit and $250,000 for the highest APY
Both accounts are online-only, limiting access
Growth Savings has no tiered APY options
No direct deposit requirement may limit some account features

Summary: Forbright Bank offers two savings accounts with competitive APYs, particularly the Growth Savings at 4.00%. The bank has an A+ BBB rating and high app ratings, indicating reliability. However, the Bright Savings account requires a substantial minimum balance for its highest APY. Both accounts are online-only, which may limit accessibility for some users. Overall, Forbright Bank is a solid choice for savers focused on high yields.

Savings Accounts: In-Depth View

Savings Accounts Offered by Forbright Bank

Feature	Growth Savings	Bright Savings
APY	4.00% (as of 11/15/2025)	2.75% - 3.65% (as of 11/15/2025)
APY Trend	-0.25% QoQ	-0.25% QoQ
Minimum Deposit	$0	$250
Minimum Balance for APY	$0	$250,000
FDIC-insured	Yes	Yes
Online Only	Yes	No
Bundled Account	No	No
Direct Deposit Required	No	No
Compound Frequency	Daily	Daily
Maintenance Fee	$0	$0
Eligibility	United States	This account 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 2.75% may be obtained with as little as $0.01 in balance. See bank for more details and all tiers.
Sponsored Link
No deposit agreement summary available for this bank.

Calculate Savings for Forbright Bank

All calculations are based on APY.

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Total savings breakdown:

Interest earned: $1,568.1 (10.07%)
Total contributions: $13,000 (83.50%)
Initial deposit: $1,000 (6.42%)

Your total balance

$15,568.10

Effective APY: 4.00% (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

Metric	Bright Savings	Growth Savings	Sprout Savings
Latest APY	3.65 %	4.00 %	3.65 %
Trend	Sideways	Sideways	Sideways
Slope (bps/mo)	-2.8	-2.4	-2.7
Rate Changes / Mo	0.09	0.18	0.09
Days Since Last Change	45	37	45
High (-11 m)	3.90 %	4.60 %	3.90 %
Low (-11 m)	3.65 %	4.00 %	3.65 %
Draw-down from High	-6.4 %	-13.0 %	-6.4 %
Volatility (CV)	0.026	0.027	0.026

APY Insights Glossary

Latest APY: Most recent advertised annual-percentage yield.
Trend: Direction over the last 11 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 (-11 m): Highest APY in the last 333 days.
Low (-11 m): Lowest APY in the last 333 days.
Draw-down from High: How far today sits below the 11-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 - 3.60% APY
All America Bank - 1.50-3.25% APY
Ally Bank - 3.30% APY
Amalgamated Bank - 2.25% APY
American Express - 3.50% APY
Ameriprise Bank - 3.15-3.15% APY
Axos Bank - 4.51% APY
Bank5 Connect - 3.85% APY
Bank of America - 0.01% APY
Barclays - 3.90-4.10% APY
Bask Bank - 3.90% APY
Betterment - 3.50% APY
BMO Alto - 3.25% APY
Bread Savings - 4.20% APY
BrioDirect - 4.00% APY
Capital One - 3.40% APY
Carver Bank - 4.00% APY
Charles Schwab Bank - 0.15% APY
Chase Bank - 0.01% APY
Chime - 1.00-3.50% APY
CIBC Bank USA - 3.92% APY
CIT Bank - 0.25-3.85% APY
Citibank - 3.35% APY
Citizens Access™ - 3.35% APY
Colorado Federal Savings Bank - 4.05% APY
ConnectOne Bank - 3.60% APY
Customers Bank - 3.73% APY
Discover Bank - 3.40% APY
Elevault - 4.08% APY
E*TRADE from Morgan Stanley - 3.75% APY
EverBank - 4.05% APY
Evergreen Bank Group - 4.25% APY
First Foundation Bank - 4.00% APY
Fitness Bank - 4.75% APY
Flagstar Bank - 3.65% APY
FNBO Direct - 3.00% APY
FVCbank - 3.85% APY
GO2bank - 4.50% APY
High Plains Bank - 0.23-3.82% APY
Ivy Bank - 0.05-4.25% APY
Jenius Bank - 4.20% APY
LendingClub - 3.20-4.20% APY
Live Oak Bank - 3.90% APY
Marcus by Goldman Sachs - 3.65% APY
MutualOne Bank - 4.07% APY
My Banking Direct - 4.02% APY
MySavingsDirect - 3.75% APY
Neighbors Bank - 4.50% APY
Newtek Bank - 4.35% APY
Northeast Bank - 2.50-3.00% APY
OMB Bank - 1.00% APY
Openbank - 4.20% APY
Peak Bank - 4.20% APY
Pibank - 4.60% APY
PNC - 3.53% APY
Poppy Bank - 4.00% APY
Popular Direct - 4.00% APY
Presidential Bank - 3.75-4.25% APY
Prime Alliance Bank - 3.90% APY
Primis Bank - 3.85% APY
Quontic Bank - 3.75% APY
RBMAX - 3.90% APY
Rising Bank - 3.95% APY
ROGER - 3.87% APY
Salem Five Direct - 3.71% APY
Sallie Mae Bank - 3.90% APY
Santander Bank - 0.01% APY
SmartyPig - 3.90% APY
SoFi Bank - 4.30% APY
Synchrony Bank - 3.80% APY
TAB Bank - 3.80% APY
TD Bank - 0.05-2.75% APY
The State Exchange Bank - 3.96% APY
TIMBR - 4.40% APY
UFB Direct - 3.51-3.71% APY
Upgrade - 3.05% APY
Valley Direct - 4.10% APY
Varo Bank - 2.50-5.00% APY
Vio Bank - 4.21% APY
Wealthfront - 3.50-4.15% APY
Wells Fargo - 0.05-0.05% APY
Western Alliance Bank - 4.05% APY
Zynlo Bank - 4.20% APY

Feature	Forbright Bank	Select a bank...
Product		N/A
APY	4.00% (as of 11/15/2025)	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

Bank-to-Bank Comparisons

Compare Forbright Bank's APY of 4.00% with other banks

Bank Pair	Competitor APY	Min Deposit
Forbright Bank vs Ally Bank	3.30%	$0
Forbright Bank vs American Express	3.50%	$0
Forbright Bank vs Axos Bank	4.51%	$0
Forbright Bank vs Bank of America	0.01%	$100
Forbright Bank vs Barclays	4.10%	$0
Forbright Bank vs Bask Bank	3.90%	$0
Forbright Bank vs BMO Alto	3.25%	$0
Forbright Bank vs BrioDirect	4.00%	$5,000
Forbright Bank vs Capital One	3.40%	$0
Forbright Bank vs Chase Bank	0.01%	$0
Forbright Bank vs Chime	3.50%	$0
Forbright Bank vs CIT Bank	3.85%	$100
Forbright Bank vs Citibank	3.35%	$0
Forbright Bank vs Citizens Access™	3.35%	$0.01
Forbright Bank vs Discover Bank	3.40%	$0
Forbright Bank vs Elevault	4.08%	$0
Forbright Bank vs EverBank	4.05%	$0
Forbright Bank vs Fitness Bank	4.75%	$100
Forbright Bank vs FNBO Direct	3.00%	$1
Forbright Bank vs FVCbank	3.85%	$500
Forbright Bank vs GO2bank	4.50%	$0
Forbright Bank vs Ivy Bank	4.25%	$2,500
Forbright Bank vs LendingClub	4.20%	$0
Forbright Bank vs Marcus by Goldman Sachs	3.65%	$0
Forbright Bank vs Neighbors Bank	4.50%	$0
Forbright Bank vs Newtek Bank	4.35%	$0.01
Forbright Bank vs Openbank	4.20%	$500
Forbright Bank vs Peak Bank	4.20%	$100
Forbright Bank vs Pibank	4.60%	$0
Forbright Bank vs PNC	3.53%	$0
Forbright Bank vs Presidential Bank	4.25%	$5,000
Forbright Bank vs Quontic Bank	3.75%	$100
Forbright Bank vs Salem Five Direct	3.71%	$10
Forbright Bank vs Santander Bank	0.01%	$25
Forbright Bank vs SoFi Bank	4.30%	$0
Forbright Bank vs Synchrony Bank	3.80%	$0
Forbright Bank vs TIMBR	4.40%	$1,000
Forbright Bank vs UFB Direct	3.71%	$5000
Forbright Bank vs Valley Direct	4.10%	$1,000
Forbright Bank vs Varo Bank	5.00%	$0
Forbright Bank vs Vio Bank	4.21%	$100
Forbright Bank vs Wealthfront	4.15%	$0
Forbright Bank vs Wells Fargo	0.05%	$25
Forbright Bank vs Zynlo Bank	4.20%	$10

Alternatives to Forbright Bank

Banks with Higher/Similar Savings APY

EverBank

Performance Savings: 4.05% APY

Minimum Deposit: $0

Online Only

RBMAX

Max Interest Savings: 3.90% APY

Minimum Deposit: $10

Online Only

Peak Bank

Envision High Yield Savings: 4.20% APY

Minimum Deposit: $100

Online Only