Forbright Bank vs. Openbank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Forbright BankGrowth Savings Jan 21, 2026 | OpenbankHigh-Yield Savings Account Jan 21, 2026 |
|---|---|---|
| APY | 3.85% | 4.20% |
Est. Earnings | $5,000+$193 $10,000+$385 $25,000+$963 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $0 | $500 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredLow Minimums |
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Comparison Analysis
Comparing Forbright Bank vs. Openbank
As of Forbright Bank offers an APY of 3.85% for its Growth Savings account, with a minimum balance of $0, compared to Openbank's 4.20% APY for its High-Yield Savings Account, with a minimum balance of $0.
Openbank pays $35 more than Forbright Bank on a $10,000 balance after one year. Forbright Bank pays $385, while Openbank pays $420 - an APY advantage for Openbank.
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))
- ✓Higher rated iOS app (4.8 vs 3.1)
- ✓Higher rated Android app (4.5 vs 2.8)
- ✓Offers 3 different high-yield savings options
- ✓Fast transfers via Zelle®
Why Openbank?
- ✓Higher potential APY (4.20% vs 3.45%-3.85%) on all balances
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $420 vs $385/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1050 vs $963/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.20% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Forbright BankForbright Bank offers an iOS app rated 4.8 (vs. 3.1) and Android app rated 4.5 (vs. 2.8)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $35 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
Openbank offers a High-Yield Savings Account with a competitive APY of 4.20%, making it the clear winner in this comparison. This account requires a minimum deposit of $500 but has no maintenance fees or direct deposit requirements, providing simplicity for users. In contrast, Forbright Bank's Growth Savings account yields an APY of 3.85% and is available with no minimum balance or deposit, but it is an online-only product. Forbright also offers other savings options, such as the Bright Savings account with a higher APY of 3.45%, which requires a minimum balance of $250,000 to achieve the top rate. Overall, Openbank's offering provides better returns and ease of access.
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. Openbank Savings Calculator
You earn $35 more with Openbank 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
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Forbright Bank | Openbank |
|---|---|---|
| APY | 3.85% Verified: 1/21/2026 ↘︎ 0.15%90d Change | 4.20% Verified: 1/21/2026 Stable (90d) |
| Product Name | Growth Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $0 | $0 |
| 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 | iOS3.1 Android2.8 |
| Zelle® Support | Available Branch accounts only; Growth Savings online does NOT support. | Not Supported |
| BBB Rating | A+ | Not Rated |
| Next Steps | Visit SiteVerify at Forbright Bank Non-sponsored link to official site | Visit SiteVerify at Openbank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Forbright Bank | Openbank | ||
|---|---|---|---|---|
| Sprout Savings | Bright Savings | Growth Savings | High-Yield Savings Account | |
Current APY | 3.45% | 3.45% | 3.85% | 4.20% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -3.7 | -3.7 | -3.4 | -2.8 |
Days Since Change | 13 | 13 | 13 | 184 |
11-Month High | 3.90% | 3.90% | 4.25% | 4.75% |
11-Month Low | 3.45% | 3.45% | 3.85% | 4.20% |
Adjustments / Mo | 0.18 | 0.18 | 0.18 | 0.27 |
Volatility Score | 0.037 | 0.037 | 0.032 | 0.026 |
How to read these metrics(Click to expand)
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