Chime vs. Forbright Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of Chime vs. Forbright Bank
Key Metrics at a Glance
| Feature | Chime | Forbright Bank |
|---|---|---|
| Top Savings APY | 3.50% Chime Savings Account | 4.00% Growth Savings |
| Minimum to Open | $0 | $0 |
| Minimum Balance for Top APY | $0.01 | $0 |
| Note | Chime® is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. To open a savings account you must first open a checking account. To qualify for Chime+ with the 3.50% APY, you must have a Chime Checking account and receive a direct deposit of at least $200. Otherwise, the APY is 1.00%. |
Chime
Strengths
- Chime offers a 3.50% APY, although it decreased from 3.75% last month.
- Chime has no maintenance fees and a low minimum balance requirement of $0.01.
- Chime has an excellent App Store rating of 4.8.
Potential Drawbacks
- Chime requires a direct deposit of $200 to qualify for the 3.50% APY.
- Chime has no physical branches for in-person banking.
- Chime's lower APY is only 1.00%, which is significantly lower than its high APY.
Forbright Bank
Strengths
- Forbright Bank offers a competitive 4.00% APY with no direct deposit requirement.
- Forbright Bank has multiple savings account options, including a tiered account with 3.65% APY.
- Forbright Bank is BBB Accredited, enhancing its trustworthiness.
Potential Drawbacks
- Forbright Bank's highest APY is only available through the Growth Savings account.
- Forbright Bank has a lower Google Play rating of 4.6 compared to Chime.
- Forbright Bank requires a minimum deposit of $250 for its Bright Savings account.
Summary: Chime offers a 3.50% APY, requiring a $200 direct deposit, while Forbright Bank provides a higher 4.00% APY without such a requirement. Forbright also features multiple savings accounts, including a 3.65% option. Both banks have no maintenance fees, but Chime lacks physical branches, whereas Forbright has locations in the D.C. area. Both banks maintain an A+ BBB rating, but Forbright is also BBB Accredited.
→ As of November 12, 2025 Chime offers an APY of 3.50% for its Chime Savings Account, with a minimum balance of $0.01, compared to Forbright Bank's 4.00% APY for its Growth Savings account, with a minimum balance of $0.
→ Forbright Bank yields $50 more than Chime on a $10,000 balance after one year. Chime pays $350, 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 Chime vs Forbright Bank
All calculations are based on APY.
Chime - Chime Savings Account
Top APY: 3.50%
Total savings breakdown:
- Interest earned: $2,114.1 (10.51%)
- Total contributions: $13,000 (64.63%)
- Initial deposit: $5,000 (24.86%)
Your total balance
$20,114.10
Effective APY: 3.50% (based on your deposit and contributions)
Total balance: $20,114.1
Earnings: $2,114.1
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, Chime's total earnings would be $320.6 lower than Forbright Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Chime's vs Forbright Bank's Savings Accounts
| Chime | Forbright Bank | ||||
|---|---|---|---|---|---|
| Product | Chime Savings Account | vs | Growth Savings | Bright Savings | Sprout Savings |
| APY | 1.00% - 3.50% (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 | Yes | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | Yes | |
| Online Only | Yes | Yes | No | No | |
| Compound Frequency | Daily | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $0 | $250 | $1 | |
| Minimum Balance for APY | $0.01 | $0 | $250,000 | $0.01 | |
| Maintenance Fee | $0 | $0 | $0 | $0 | |
| Direct Deposit Required | Yes. You need to receive a qualifying direct deposit of $200 or more within the preceding 34 days | 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 | Chime® is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. To open a savings account you must first open a checking account. To qualify for Chime+ with the 3.50% APY, you must have a Chime Checking account and receive a direct deposit of at least $200. Otherwise, the APY is 1.00%. | 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 | 4.7/5 | 4.6/5 | |||
| BBB Rating | A+ | A+ | |||
Comparative Historical APY Insights (Last 9 Months)
| Chime | Forbright Bank | ||||
|---|---|---|---|---|---|
| Product | Chime Savings Account | vs | Sprout Savings | Bright Savings | Growth Savings |
| Latest APY | 3.50 % | 3.65 % | 3.65 % | 4.00 % | |
| Trend | Rising | Sideways | Sideways | Sideways | |
| Slope (bps/mo) | 15.7 | -2.7 | -2.7 | -1.9 | |
| Rate Changes / Mo | 0.21 | 0.10 | 0.10 | 0.10 | |
| Days Since Last Change | 28 | 43 | 43 | 35 | |
| High (-9 m) | 3.75 % | 3.90 % | 3.90 % | 4.25 % | |
| Low (-9 m) | 2.00 % | 3.65 % | 3.65 % | 4.00 % | |
| Draw-down from High | -6.7 % | -6.4 % | -6.4 % | -5.9 % | |
| Volatility (CV) | 0.206 | 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 287 days.
- Low (-9 m)
- Lowest APY in the last 287 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.