Forbright Bank: Savings Accounts & Rates
Mission: Banksparency aims to make Forbright Bank's savings accounts transparent and comparable to the market.
Savings Overview
Growth Savings
Bright Savings
Sprout Savings
Market Reality Check
This bank offers rates below the current top tier. The best rates we track are currently above 4.21% APY.
Bank Overview
- HQ LocationChevy Chase, Maryland
- Founded2003
- AffiliationForbright Bank was rebranded from Congressional Bank, Member FDIC, effective January 19, 2022
- Ratings & Trust
- Zelle® SupportAvailableBranch accounts only; Growth Savings online does NOT support.
- Deposit InsuranceFDIC Insured(Cert: 57614)
Our Take on Forbright Bank
The Good
- Competitive 4.00% APY
- No minimum deposit or balance requirements
- No monthly maintenance fees
- Highly rated mobile apps (iOS: 4.8, Android: 4.5)
- Access to physical branches
Considerations
- No physical branch access (online only)
Forbright Bank offers a Growth Savings account with a competitive 4.00% APY. This account has no minimum deposit or balance requirements and does not charge monthly maintenance fees. Additionally, customers can benefit from highly rated mobile apps, with scores of 4.8 for iOS and 4.5 for Android. There are no direct deposit requirements, and the account does not have any promotional or tiered features. However, please note that this account is available online only, with no access to physical branches.
Top Market Contenders
Savings Accounts: In-Depth View
Savings Accounts Offered by Forbright Bank
| Feature | Growth Savings | Bright Savings | Sprout Savings |
|---|---|---|---|
APY | 4.00%Verified: 1/7/2026 | 3.65%Range: 2.75% - 3.65%Verified: 1/7/2026 | 3.65%Range: 0.80% - 3.65%Verified: 1/7/2026 |
APY Trend | Very StableNo rate changes in last 90 days | Very StableNo rate changes in last 90 days | Very StableNo rate changes in last 90 days |
Min. Deposit | $0 | $250 | $1 |
Min. Balance | $0 | $250,000 | $0.01 |
Monthly Fee | $0 | $0 | $0 |
Direct Deposit | None | None | None |
Checking Bundle | No | No | No |
Branch Access | None | Yes | Yes |
Compounding | Daily | Daily | Daily |
FDIC Insured | Yes | Yes | Yes |
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) |
Important | - | 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. | 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. |
| Next Steps | - | - | - |
Calculate Savings for Forbright Bank
Savings Breakdown
- Interest Earned+$1,568.10(10.1%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,568.10
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
Last 12 Months| Metric | Sprout Savings | Bright Savings | Growth Savings |
|---|---|---|---|
Latest APY | 3.65% | 3.65% | 4.00% |
Trend | Sideways | Sideways | Sideways |
Slope (bps/mo) | -3.3 | -3.3 | -2.7 |
Rate Changes / Mo | 0.08 | 0.08 | 0.16 |
Days Since Last Change | 98 | 98 | 90 |
High (-12m) | 3.90% | 3.90% | 4.60% |
Low (-12m) | 3.65% | 3.65% | 4.00% |
Draw-down | -6.4% | -6.4% | -13.0% |
Volatility (CV) | 0.032 | 0.032 | 0.029 |
How to read these metrics▼
Trends & Velocity
- Trend
- The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
- Slope (bps/mo)
- Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
- Rate Changes / Mo
- "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.
Risk & Range
- High/Low
- The absolute ceiling and floor of the rate during the 365-day window.
- Volatility Score
- Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
- Days Since Change
- If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.
Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.
Compare with Forbright Bank
| Feature | Current View Forbright Bank | Empty Slot |
|---|---|---|
| Product | - | |
APY | 4.00%Verified: 1/7/2026 | - |
APY Trend | Very StableNo rate changes in last 90 days | - |
| Min. Deposit | $0 | - |
| Monthly Fee | $0 | - |
Direct Deposit | No | - |
Checking Bundle | No | - |
| Branch Access | None | - |
| Eligibility | United States | - |
Compounding | Daily | - |
FDIC Insured | Yes | - |
| Next Steps | - | - |
Bank-to-Bank Comparisons
Compare Forbright Bank's APY of 4.00% with other banks
Alternatives to Forbright Bank
Banks with Higher/Similar Savings APY
For a top list of the highest savings rates, see all HYSA top rates
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Eligible States: Limited (see details)
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