Bank Of America vs. Forbright Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of Bank of America vs. Forbright Bank
Key Metrics at a Glance
| Feature | Bank of America | Forbright Bank |
|---|---|---|
| Top Savings APY | 0.01% Advantage Savings | 4.00% Growth Savings |
| Minimum to Open | $100 | $0 |
| Minimum Balance for Top APY | $0 | |
| Note | 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. |
Bank of America
Strengths
- Bank of America has a high App Store rating of 4.8.
- The Advantage Savings account requires only a $100 minimum deposit.
Potential Drawbacks
- The Advantage Savings account offers a low APY of 0.01%.
- Bank of America charges an $8 monthly maintenance fee.
Forbright Bank
Strengths
- Forbright Bank's Growth Savings account offers a high APY of 4.00%.
- There are no maintenance fees for any savings accounts at Forbright Bank.
Potential Drawbacks
- Forbright Bank's accounts require a minimum deposit of $250 for Bright Savings.
- Forbright Bank has limited branch locations in the Washington D.C. area.
Summary: Forbright Bank offers significantly higher APYs, with 4.00% for its Growth Savings account, while Bank of America's Advantage Savings only provides 0.01%. Additionally, Forbright Bank has no maintenance fees, unlike Bank of America, which charges $8 monthly. However, Bank of America has a lower minimum deposit requirement of $100 compared to Forbright's $250 for some accounts, and its App Store rating is also notable at 4.8.
→ As of November 12, 2025 Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to Forbright Bank's 4.00% APY for its Growth Savings account, with a minimum balance of $0.
→ Forbright Bank yields $399 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Forbright Bank pays $400 - an APY advantage for Forbright Bank.
→ In addition, Forbright Bank also offers 3.65% APY for the Bright Savings account.
Calculate Savings Growth for Bank of America vs Forbright Bank
All calculations are based on APY.
Bank of America - Advantage Savings
Top APY: 0.01%
Total savings breakdown:
- Interest earned: $5.7 (0.03%)
- Total contributions: $13,000 (72.20%)
- Initial deposit: $5,000 (27.77%)
Your total balance
$18,005.70
Effective APY: 0.01% (based on your deposit and contributions)
Total balance: $18,005.7
Earnings: $5.7
Bank OverviewForbright Bank - Growth Savings
Top APY: 4.00%
Total savings breakdown:
- Interest earned: $2,434.7 (11.91%)
- Total contributions: $13,000 (63.62%)
- Initial deposit: $5,000 (24.47%)
Your total balance
$20,434.70
Effective APY: 4.00% (based on your deposit and contributions)
Total balance: $20,434.7
Earnings: $2,434.7
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Bank of America's total earnings would be $2,429 lower than Forbright Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Bank of America's vs Forbright Bank's Savings Accounts
| Bank of America | Forbright Bank | ||||
|---|---|---|---|---|---|
| Product | Advantage Savings | vs | Growth Savings | Bright Savings | Sprout Savings |
| APY | 0.01% (as of 11/12/2025) | 4.00% (as of 11/12/2025) | 2.75% - 3.65% (as of 11/12/2025) | 0.80% - 3.65% (as of 11/12/2025) | |
| Bundled Account | No | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | Yes | |
| Online Only | No | Yes | No | No | |
| Compound Frequency | Monthly | Daily | Daily | Daily | |
| Minimum Deposit | $100 | $0 | $250 | $1 | |
| Minimum Balance for APY | N/A | $0 | $250,000 | $0.01 | |
| Maintenance Fee | $8 | $0 | $0 | $0 | |
| Direct Deposit Required | No | No | No | No | |
| Eligibility | United States | 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 | 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. | 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. | ||
| App Store Rating | 4.8/5 | 4.8/5 | |||
| Google Play Rating | 4.6/5 | 4.6/5 | |||
| BBB Rating | A+ | A+ | |||
Comparative Historical APY Insights (Last 9 Months)
| Bank of America | Forbright Bank | ||||
|---|---|---|---|---|---|
| Product | Advantage Savings | vs | Sprout Savings | Bright Savings | Growth Savings |
| Latest APY | 0.01 % | 3.65 % | 3.65 % | 4.00 % | |
| Trend | Sideways | Sideways | Sideways | Sideways | |
| Slope (bps/mo) | 0.0 | -2.7 | -2.7 | -1.9 | |
| Rate Changes / Mo | 0.00 | 0.10 | 0.10 | 0.10 | |
| Days Since Last Change | 288 | 43 | 43 | 35 | |
| High (-9 m) | 0.01 % | 3.90 % | 3.90 % | 4.25 % | |
| Low (-9 m) | 0.01 % | 3.65 % | 3.65 % | 4.00 % | |
| Draw-down from High | 0.0 % | -6.4 % | -6.4 % | -5.9 % | |
| Volatility (CV) | 0.000 | 0.026 | 0.026 | 0.021 | |
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.