Bank of America vs. Forbright Bank
Comparing Bank of America and Forbright Bank for savings: Bank of America's Advantage Savings pays 0.01% APY while Forbright Bank's Growth Savings pays 3.85% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Forbright Bank pays $384 more than Bank of America annually ($385 vs $1).
Choose Forbright Bank if getting the best rate matters most.
| Metric | Bank of AmericaAdvantage Savings Feb 20, 2026 | Forbright BankGrowth Savings Feb 20, 2026 |
|---|---|---|
| APY | 0.01% | 3.85% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$193 $10,000+$385 $25,000+$963 |
Min Deposit | $100 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | 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. | - |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Bank of America vs. Forbright Bank
Executive Summary
Forbright Bank offers a standout Growth Savings account with a competitive APY of 3.85%, significantly higher than Bank of America's Advantage Savings, which yields only 0.01%. The Growth Savings account is online-only, requires no minimum deposit or maintenance fees, and does not impose any direct deposit requirements, making it a straightforward option for savers. In contrast, Bank of America's account has a minimum deposit of $100 and a monthly maintenance fee of $8, which can be waived under certain conditions. Overall, Forbright Bank's Growth Savings account is the clear winner for those seeking higher returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Bank of America?
No distinct advantages found vs Forbright Bank.
Why Forbright Bank?
- ✓Higher potential APY (3.45%-3.85% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
- ✓Physical branch access (Locations in the Washington D.C. area (Maryland and Virginia))
- ✓Offers 3 different high-yield savings options
— Key Feature Differences —
Better Returns at $10,000
Forbright BankForbright Bank's Growth Savings earns more on smaller deposits (approx. $385 vs $1/yr).
Better Returns at $25,000
Forbright BankForbright Bank's Growth Savings pulls ahead with larger amounts (approx. $963 vs $3/yr).
Best for Simplicity
Forbright BankForbright Bank's Growth Savings offers 3.85% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Forbright Bank's Growth Savings pays $384 more interest on a $10,000 balance than Bank of America's Advantage Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Bank of America vs. Forbright Bank Savings Calculator
You earn $384 more with Forbright Bank than Bank of America on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Bank of America
Advantage Savings
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
Forbright Bank
Growth Savings
Savings Breakdown
- Interest Earned+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | Forbright Bank |
|---|---|---|
| APY | 0.01% Verified: 2/20/2026 Stable (90d) | 3.85% Verified: 2/20/2026 ↘︎ 0.15%90d Change |
| Product Name | Advantage Savings | Growth Savings |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $0 |
| Monthly Fee | $8 | $0 |
| Compound Frequency | Monthly | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | N/A | Locations in the Washington D.C. area (Maryland and Virginia) |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $3,500/dayFounding member; highest limits for established users. | Available Branch accounts only; Growth Savings online does NOT support. |
| BBB Rating | A+ | A+ |
| Important Notes | 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. | - |
| Next Steps | Visit SiteVerify at Bank of America Non-sponsored link to official site | Visit SiteVerify at Forbright Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Forbright Bank | ||
|---|---|---|---|---|
| Advantage Savings | Sprout Savings | Bright Savings | Growth Savings | |
Current APY | 0.01% | 3.45% | 3.45% | 3.85% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | 0.0 | -4.3 | -4.3 | -3.8 |
Days Since Change | 66 | 42 | 42 | 42 |
12-Month High | 0.03% | 3.90% | 3.90% | 4.25% |
12-Month Low | 0.01% | 3.45% | 3.45% | 3.85% |
Adjustments / Mo | 0.16 | 0.16 | 0.16 | 0.16 |
Volatility Score | 0.116 | 0.045 | 0.045 | 0.038 |
How to read these metrics(Click to expand)
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More Comparisons
Compare Bank of America's APY of 0.01% with other banks
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 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 |