Forbright Bank vs. My Banking Direct
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Forbright BankGrowth Savings Jan 9, 2026 | My Banking DirectHigh Yield Savings Account Jan 9, 2026 |
|---|---|---|
| APY | 3.85% | 4.02% |
Est. Earnings | $5,000+$193 $10,000+$385 $25,000+$963 | $5,000+$201 $10,000+$402 $25,000+$1,005 |
Min Deposit | $0 | $500 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing Forbright Bank vs. My Banking Direct
As of Forbright Bank offers an APY of 3.85% for its Growth Savings account, with a minimum balance of $0, compared to My Banking Direct's 4.02% APY for its High Yield Savings Account, with a minimum balance of $1.
My Banking Direct pays $17 more than Forbright Bank on a $10,000 balance after one year. Forbright Bank pays $385, while My Banking Direct pays $402 - an APY advantage for My Banking Direct.
In addition, Forbright Bank also offers 3.45% APY for the Bright Savings account, with a minimum balance of $250,000.
Why Forbright Bank?
- ✓Physical branch access (Locations in the Washington D.C. area (Maryland and Virginia))
- ✓Offers 3 different high-yield savings options
Why My Banking Direct?
- ✓Higher potential APY (4.02% vs 3.45%-3.85%) on all balances
— Key Feature Differences —
Better Returns at $10,000
My Banking DirectMy Banking Direct's High Yield Savings Account earns more on smaller deposits (approx. $402 vs $385/yr).
Better Returns at $25,000
My Banking DirectMy Banking Direct's High Yield Savings Account pulls ahead with larger amounts (approx. $1005 vs $963/yr).
Shared Benefits
Over a 1-year period, My Banking Direct's High Yield Savings Account pays $17 more interest on a $10,000 balance than Forbright Bank's Growth Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
My Banking Direct offers a High Yield Savings Account with an APY of 4.02%, making it the top choice for savers seeking higher returns. In comparison, Forbright Bank's Growth Savings account provides a competitive APY of 3.85%. While both accounts are online-only and have no maintenance fees, My Banking Direct requires a minimum deposit of $500, whereas Forbright Bank's Growth Savings has no minimum deposit requirement. Forbright also offers additional savings options, such as the Bright Savings and Sprout Savings accounts, which yield lower APYs of 3.45%.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Forbright Bank vs. My Banking Direct Savings Calculator
You earn $17 more with My Banking Direct than Forbright Bank 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.
Forbright Bank
Growth Savings
Savings Breakdown
- Interest Earned+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
My Banking Direct
High Yield Savings Account
Savings Breakdown
- Interest Earned+$402.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,402.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Forbright Bank | My Banking Direct |
|---|---|---|
| APY | 3.85% Verified: 1/9/2026 ↘︎ 0.15%90d Change | 4.02% Verified: 1/9/2026 ↘︎ 0.18%90d Change |
| Product Name | Growth Savings | High Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $0 | $1 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.5 | iOS4.7 Android4.3 |
| Zelle® Support | Available Branch accounts only; Growth Savings online does NOT support. | Available Uses Flagstar/NYCB parent infrastructure. |
| BBB Rating | A+ | F |
| Next Steps | Visit SiteVerify at Forbright Bank Non-sponsored link to official site | Visit SiteVerify at My Banking Direct Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Forbright Bank | My Banking Direct | ||
|---|---|---|---|---|
| Sprout Savings | Bright Savings | Growth Savings | High Yield Savings Account | |
Current APY | 3.45% | 3.45% | 3.85% | 4.02% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -3.3 | -3.3 | -2.6 | -3.9 |
Days Since Change | 0 | 0 | 0 | 55 |
12-Month High | 3.90% | 3.90% | 4.25% | 4.55% |
12-Month Low | 3.45% | 3.45% | 3.85% | 4.02% |
Adjustments / Mo | 0.16 | 0.16 | 0.16 | 0.49 |
Volatility Score | 0.032 | 0.033 | 0.028 | 0.035 |
How to read these metrics(Click to expand)
Compare Similar High-Yield Accounts
Compare Forbright Bank vs...
Comparing against Standard Savings
Compare My Banking Direct vs...
Comparing against Standard Savings
High Rates (With Checking Bundle)
Looking for something different? Check out these top-rated alternatives.