Forbright Bank: Savings Accounts & Rates
Mission: Banksparency aims to make Forbright Bank's savings accounts transparent and comparable to the market.
Analysis of Forbright Bank
Our verdict
Forbright Bank offers Growth Savings, a high-yield savings account paying 3.85% APY with no minimum deposit.
At 3.85% APY, Forbright Bank pays 10x the national average (0.39%). Ranks in the top tier of 99+ accounts tracked.
Forbright Bank also offers Bright Savings at 3.45% APY — a lower rate.
Forbright Bank also offers Sprout Savings at 3.45% APY — with a balance cap.
Ideal User Profile
- Best for: simple saving without extra requirements, banking without needing a branch, and quick transfers with Zelle.
Key Differentiators
- Stands out with top-rated iOS app (4.8), highly-rated Android app (4.5), A+ BBB rating, in-person banking available, Zelle for instant transfers.
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 4.15% 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)
Top Market Contenders
Savings Accounts: In-Depth View
Savings Accounts Offered by Forbright Bank
| Feature | Bright Savings | Growth Savings | Sprout Savings |
|---|---|---|---|
APY | 3.45%Range: 2.45% - 3.45%Verified: 2/21/2026 | 3.85%Verified: 2/21/2026 | 3.45%Range: 0.80% - 3.45%Verified: 2/21/2026 |
APY Trend | Rate Adjusted -0.20% Since 90 days ago | Rate Adjusted -0.15% Since 90 days ago | Rate Adjusted -0.20% Since 90 days ago |
Min. Deposit | $250 | $0 | $1 |
Min. Balance | $250,000 | $0 | $0.01 |
Monthly Fee | $0 | $0 | $0 |
Direct Deposit | None | None | None |
Checking Bundle | No | No | No |
Branch Access | Yes | None | Yes |
Compounding | Daily | Daily | Daily |
FDIC Insured | Yes | Yes | Yes |
Eligibility | This account must be opened in a Forbright branch (Washington, D.C. metro area) | United States | 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 2.45% 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+$1,506.40(9.7%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,506.40
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 | 3.45% | 3.45% | 3.85% |
Trend | Sideways | Sideways | Sideways |
Slope (bps/mo) | -4.3 | -4.3 | -3.8 |
Rate Changes / Mo | 0.16 | 0.16 | 0.16 |
Days Since Last Change | 43 | 43 | 43 |
High (-12m) | 3.90% | 3.90% | 4.25% |
Low (-12m) | 3.45% | 3.45% | 3.85% |
Draw-down | -11.5% | -11.5% | -9.4% |
Volatility (CV) | 0.045 | 0.045 | 0.038 |
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 | 3.85%Verified: 2/21/2026 | - |
APY Trend | Rate Adjusted -0.15% Since 90 days ago | - |
| 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 3.85% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Forbright Bank vs Ally Bank | 3.20% | $0 |
| Forbright Bank vs American Express | 3.30% | $0 |
| Forbright Bank vs Axos Bank | 4.21% | $0 |
| Forbright Bank vs Bank of America | 0.01% | $100 |
| Forbright Bank vs Barclays | 3.85% | $0 |
| Forbright Bank vs Capital One | 3.30% | $0 |
| Forbright Bank vs Chase Bank | 0.01% | $0 |
| Forbright Bank vs Chime | 3.00% | $0 |
| Forbright Bank vs CIT Bank | 3.75% | $100 |
| Forbright Bank vs Citibank | 3.20% | $0 |
| Forbright Bank vs Discover Bank | 3.30% | $0 |
| Forbright Bank vs EverBank | 3.90% | $0 |
| Forbright Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Forbright Bank vs Newtek Bank | 4.20% | $0.01 |
| Forbright Bank vs Openbank | 4.09% | $500 |
| Forbright Bank vs Pibank | 4.60% | $0 |
| Forbright Bank vs SoFi Bank | 4.00% | $0 |
| Forbright Bank vs Synchrony Bank | 3.50% | $0 |
| Forbright Bank vs Varo Bank | 5.00% | $0 |
| Forbright Bank vs Wealthfront | 3.95% | $0 |
| Forbright Bank vs Wells Fargo | 0.05% | $25 |
Alternatives to Forbright Bank
Banks with Higher/Similar Savings APY
For a top list of the highest savings rates, see all HYSA top rates
Primis Bank
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TIMBR
Premium Savings Account: 4.15% APY
Minimum Deposit: $1,000
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