Forbright Bank vs. SoFi Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Forbright BankGrowth Savings Jan 7, 2026 | SoFi BankSoFi Savings Jan 7, 2026 |
|---|---|---|
| APY | 4.00% | 3.30% - 4.00% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$183 $10,000+$365 $25,000+$913 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Limited offer: The 4.00% includes a temporary 0.70% APY boost for 6 months. It is available with a direct deposit of regular income, or a $10/month subscription. See terms at SoFi Bank. The savings account comes bundled with a checking account with a 0.50% APY. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedChecking Bundle |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
Comparison Analysis
Comparing Forbright Bank vs. SoFi Bank
As of Forbright Bank offers an APY of 4.00% for its Growth Savings account, with a minimum balance of $0, compared to SoFi Bank's 4.00% APY for its SoFi Savings account, with a minimum balance of $0.
Forbright Bank pays $35 more than SoFi Bank on a $10,000 balance after one year. Forbright Bank pays $400, while SoFi Bank pays $365 (with an effective APY of 3.65%) - an APY advantage for Forbright Bank.
In addition, Forbright Bank also offers 3.65% APY for the Bright Savings account, with a minimum balance of $250,000.
Why Forbright Bank?
- ✓No checking account or direct deposit required
- ✓Physical branch access (Locations in the Washington D.C. area (Maryland and Virginia))
- ✓Higher rated Android app (4.5 vs 3.9)
- ✓Offers 3 different high-yield savings options
Why SoFi Bank?
- ✓Earn a $50 bonus with $1,000+ in direct deposits, or $300 with $5,000+.
- ✓Earn 0.50% APY on checking account with access to 55,000+ fee free ATMs
— Key Feature Differences —
Better Returns at $10,000
Forbright BankForbright Bank's Growth Savings earns more on smaller deposits (approx. $400 vs $365/yr).
Better Returns at $25,000
Forbright BankForbright Bank's Growth Savings pulls ahead with larger amounts (approx. $1000 vs $913/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 $35 more interest on a $10,000 balance than SoFi Bank's SoFi Savings.
*This comparison accounts for SoFi Bank's introductory promotional rate, yet Forbright Bank's standard rate still yields a higher 1-year return.
Executive Summary as of
Forbright Bank offers a competitive Growth Savings account with a 4.00% APY, making it an attractive option for savers looking for higher returns without any direct deposit requirements or maintenance fees. This account is online-only and allows for deposits as low as $0. In comparison, SoFi Bank also provides a savings account with a 4.00% APY, but this rate includes a temporary promotional boost and is contingent upon maintaining a direct deposit or paying a $10 monthly subscription fee. SoFi's account requires bundling with a checking account that has a lower APY of 0.50%. Overall, Forbright Bank's Growth Savings is preferable for those seeking simplicity and higher yields without additional conditions.
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. SoFi Bank Savings Calculator
You earn $35.1 more with Forbright Bank than SoFi 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+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
SoFi Bank
SoFi Savings
Promo Rate: 4.00% for 6 months, then 3.30%.
Savings Breakdown
- Interest Earned+$364.90(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,364.90
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Forbright Bank | SoFi Bank |
|---|---|---|
| APY | 4.00% Verified: 1/7/2026 Stable (90d) | 4.00% Range: 3.30% - 4.00% Verified: 1/7/2026 ↘︎ 0.50%90d Change |
| Product Name | Growth Savings | SoFi Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | While direct deposit is not required, the alternative is a subscription fee of $10/month |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS4.8 Android4.5 | iOS4.8 Android3.9 |
| Zelle® Support | Available Branch accounts only; Growth Savings online does NOT support. | Available Native support added in 2024 for banking members. |
| BBB Rating | A+ | A+ |
| Important Notes | - | Limited offer: The 4.00% includes a temporary 0.70% APY boost for 6 months. It is available with a direct deposit of regular income, or a $10/month subscription. See terms at SoFi Bank. The savings account comes bundled with a checking account with a 0.50% APY. |
| Next Steps | Visit SiteVerify at Forbright Bank Non-sponsored link to official site | Visit SiteVerify at SoFi Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Forbright Bank | SoFi Bank | ||
|---|---|---|---|---|
| Sprout Savings | Bright Savings | Growth Savings | SoFi Savings | |
Current APY | 3.65% | 3.65% | 4.00% | 4.00% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -3.3 | -3.3 | -2.7 | 5.9 |
Days Since Change | 98 | 98 | 90 | 15 |
11-Month High | 3.90% | 3.90% | 4.25% | 4.50% |
11-Month Low | 3.65% | 3.65% | 4.00% | 3.80% |
Adjustments / Mo | 0.09 | 0.09 | 0.09 | 0.34 |
Volatility Score | 0.032 | 0.032 | 0.028 | 0.072 |
How to read these metrics(Click to expand)
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