Forbright Bank: Savings Accounts & Rates

Savings rates updated: 10/1/2025

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

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

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Savings Overview

Growth Savings: 4.25% APY(Rank 18 of the 20 Best Savings Rates)

Minimum Deposit: $0 | Online Only

Bright Savings: 2.75% - 3.65% APY(Rank 66 out of 97 savings accounts)

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

Sprout Savings: 0.80% - 3.65% APY(Rank 67 out of 97 savings accounts)

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

National Savings Interest Rate: 0.4% (as of 9/15/2025)

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: 4.7/5

Website: Visit Forbright Bank

Our Take on Forbright Bank

Highlights

Growth Savings offers a competitive APY of 4.25%
No maintenance fees on all accounts
A+ BBB rating and accredited status
High App Store rating of 4.8

Considerations

Bright Savings requires a minimum balance of $250,000 for the highest APY
Sprout Savings has a lower APY of 0.80% for higher balances
Direct deposit is not required but may limit some users
Limited branch locations in the Washington D.C. area

Summary: Forbright Bank offers several high-yield savings accounts, with the Growth Savings account providing an attractive APY of 4.25%. However, the Bright Savings account requires a hefty minimum balance to achieve its highest rate. All accounts have no maintenance fees, and the bank boasts an A+ BBB rating. With a strong App Store rating of 4.8, it appeals to tech-savvy savers, though branch access is limited to the D.C. area.

Savings Accounts: In-Depth View

Savings Accounts Offered by Forbright Bank

Feature	Growth Savings	Bright Savings	Sprout Savings
APY	4.25% (as of 10/1/2025)	2.75% - 3.65% (as of 10/1/2025)	0.80% - 3.65% (as of 10/1/2025)
APY Trend	Stable for the last quarter	-0.25% WoW	-0.25% WoW
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 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.
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Calculate Savings for Forbright Bank

All calculations are based on APY.

Choose savings account:

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Recurring Deposit Amount:

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Duration:

Total savings breakdown:

Interest earned: $1,671.4 (10.67%)
Total contributions: $13,000 (82.95%)
Initial deposit: $1,000 (6.38%)

Your total balance

$15,671.40

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

Metric	Sprout Savings	Bright Savings	Growth Savings
Latest APY	3.65 %	3.65 %	4.25 %
Trend	Sideways	Sideways	Sideways
Slope (bps/mo)	-0.1	-0.1	-1.0
Rate Changes / Mo	0.10	0.10	0.10
Days Since Last Change	0	0	264
High (-9 m)	3.90 %	3.90 %	4.60 %
Low (-9 m)	3.65 %	3.65 %	4.25 %
Draw-down from High	-6.4 %	-6.4 %	-7.6 %
Volatility (CV)	0.005	0.005	0.017

APY Insights Glossary

Latest APY: Most recent advertised annual-percentage yield.
Trend: Direction over the last 9 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 (-9 m): Highest APY in the last 288 days.
Low (-9 m): Lowest APY in the last 288 days.
Draw-down from High: How far today sits below the 9-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

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TAB Bank - 3.80% APY
TD Bank - 0.05-3.00% APY
The State Exchange Bank - 4.11% APY
TIMBR - 4.40% APY
UFB Direct - 3.90-4.10% APY
Upgrade - 3.42% APY
Valley Direct - 4.10% APY
Varo Bank - 2.50-5.00% APY
Wells Fargo - 0.05-2.51% APY
Western Alliance Bank - 4.10% APY
Zynlo Bank - 4.35% APY

Feature	Forbright Bank	Select a bank...
Product		N/A
APY	4.25% (as of 10/1/2025)	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