Charles Schwab Bank vs. Forbright Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Charles Schwab Bank
Schwab Bank Investor Savings™
0.15%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppIn-Person AccessShow Fine Print & Trends Hide Details
Charles Schwab Bank
Schwab Bank Investor Savings™
Forbright Bank
Growth Savings
4.00%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Forbright Bank
Growth Savings
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Charles Schwab Bank vs. Forbright Bank Savings Calculator
Forbright Bank earns $2,348.6 more than Charles Schwab Bank.
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$86.10(0.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,086.10
Forbright Bank
Growth Savings
Savings Breakdown
- Interest Earned+$2,434.70(11.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,434.70
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Charles Schwab Bank vs. Forbright Bank
Why Charles Schwab Bank?
No distinct advantages found vs Forbright Bank.
Why Forbright Bank?
- ✓Higher potential APY (3.65%-4.00% vs 0.15%) on all balances
- ✓No checking account or direct deposit required
- ✓Physical branch access (Locations in the Washington D.C. area (Maryland and Virginia))
- ✓Higher rated Android app (4.6 vs 2.9)
- ✓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. $400 vs $15/yr).
Better Returns at $25,000
Forbright BankForbright Bank's Growth Savings pulls ahead with larger amounts (approx. $1000 vs $38/yr).
Best for Simplicity
Forbright BankForbright Bank's Growth Savings offers 4.00% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Forbright Bank's Growth Savings pays $385 more interest on a $10,000 balance than Charles Schwab Bank's Schwab Bank Investor Savings™.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary
Forbright Bank offers a standout savings product, the Growth Savings account, with a competitive APY of 4.00%, making it the clear winner in this comparison. This account is online-only and requires no minimum balance or direct deposit, providing flexibility for savers. In contrast, Charles Schwab Bank's Schwab Bank Investor Savings™ account yields a much lower APY of 0.15% but has no minimum deposit or balance requirements, making it a secondary option for those seeking simplicity. Overall, Forbright Bank's Growth Savings account significantly outperforms Charles Schwab Bank's offering.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Charles Schwab Bank and Forbright Bank.
| Feature | Charles Schwab Bank | Forbright Bank |
|---|---|---|
| APY | 0.15% Verified: 12/10/2025 Stable (90d) | 4.00% Verified: 12/10/2025 ↘︎ 0.25%90d Change |
| Product Name | Schwab Bank Investor Savings™ | Growth Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android2.9 | iOS4.8 Android4.6 |
| BBB Rating | A+ | A+ |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Charles Schwab Bank | Forbright Bank | ||
|---|---|---|---|---|
| Schwab Bank Investor Savings™ | Sprout Savings | Bright Savings | Growth Savings | |
Current APY | 0.15% | 3.65% | 3.65% | 4.00% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -0.0 | -3.2 | -3.2 | -2.6 |
Days Since Change | 314 | 70 | 70 | 62 |
10-Month High | 0.15% | 3.90% | 3.90% | 4.25% |
10-Month Low | 0.15% | 3.65% | 3.65% | 4.00% |
Adjustments / Mo | 0.00 | 0.10 | 0.10 | 0.10 |
Volatility Score | 0.000 | 0.030 | 0.030 | 0.026 |
How to read these metrics(Click to expand)
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