Forbright Bank vs. Wells Fargo
Comparing Forbright Bank and Wells Fargo for savings: Forbright Bank's Growth Savings pays 3.85% APY while Wells Fargo's Platinum Savings pays 0.05% APY.
Note: Wells Fargo requires a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Forbright Bank pays $380 more than Wells Fargo annually ($385 vs $5).
Choose Forbright Bank if getting the best rate matters most, or you want a no-strings-attached account. Choose Wells Fargo if you value in-person banking.
Important Considerations
Wells Fargo requires a checking account to unlock its top savings rate, while Forbright Bank offers its savings account standalone.
| Metric | Forbright BankGrowth Savings Feb 21, 2026 | Wells FargoPlatinum Savings Feb 21, 2026 |
|---|---|---|
| APY | 3.85% | 0.05% |
Est. Earnings | $5,000+$193 $10,000+$385 $25,000+$963 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $0 | $25 |
Snapshot view. Rates subject to change. | ||
Terms | - | This is a tiered savings account where rates vary based on the balance. The 0.05% APY is available for balances of $1,000,000 or more, and 0.05% APY up to $99,999.99. These APYs require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking BundleDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Forbright Bank vs. Wells Fargo
Executive Summary
Forbright Bank offers a standout Growth Savings account with a competitive APY of 3.85%, requiring no minimum deposit or direct deposit, making it accessible for all. This online-only account provides simplicity with no maintenance fees and daily compounding. In contrast, Wells Fargo's highest APY is a mere 0.05% with its Platinum Savings account, which requires a significant minimum balance of $1,000,000 and is contingent upon linking to a Wells Fargo Premier checking account. Overall, Forbright Bank's Growth Savings account significantly outperforms Wells Fargo's offerings.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Forbright Bank?
- ✓Higher potential APY (3.45%-3.85% vs 0.01%-0.05%) on all balances
- ✓No checking account or direct deposit required
Why Wells Fargo?
No distinct advantages found vs Forbright Bank.
— Key Feature Differences —
Better Returns at $10,000
Forbright BankForbright Bank's Growth Savings earns more on smaller deposits (approx. $385 vs $5/yr).
Better Returns at $25,000
Forbright BankForbright Bank's Growth Savings pulls ahead with larger amounts (approx. $963 vs $13/yr).
Best for Simplicity
Forbright BankForbright Bank's Growth Savings offers 3.85% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Forbright Bank's Growth Savings pays $380 more interest on a $10,000 balance than Wells Fargo's Platinum Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Forbright Bank vs. Wells Fargo Savings Calculator
You earn $380 more with Forbright Bank than Wells Fargo 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
Wells Fargo
Platinum Savings
Higher APY requires $1,000,000
Savings Breakdown
- Interest Earned+$5.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,005.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Forbright Bank | Wells Fargo |
|---|---|---|
| APY | 3.85% Verified: 2/21/2026 ↘︎ 0.15%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 2/21/2026 Stable (90d) |
| Product Name | Growth Savings | Platinum Savings |
| Minimum Deposit | $0 | $25 |
| Min. Balance for APY | $0 | $1,000,000 |
| Monthly Fee | $0 | $12. Waived with $3,500 minimum daily balance. |
| Compound Frequency | Daily | Daily |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Physical Branches | Locations in the Washington D.C. area (Maryland and Virginia) | Wells Fargo offers branches and ATMs in 36 states and Washington, D.C. |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Branch accounts only; Growth Savings online does NOT support. | Available Limit: $3,500/dayFounding member; zero fees to replace wires. |
| BBB Rating | A+ | A- |
| Important Notes | - | This is a tiered savings account where rates vary based on the balance. The 0.05% APY is available for balances of $1,000,000 or more, and 0.05% APY up to $99,999.99. These APYs require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details. |
| Next Steps | Visit SiteVerify at Forbright Bank Non-sponsored link to official site | Visit SiteVerify at Wells Fargo Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Forbright Bank | Wells Fargo | |||
|---|---|---|---|---|---|
| Sprout Savings | Bright Savings | Growth Savings | Platinum Savings | Way2Save Savings | |
Current APY | 3.45% | 3.45% | 3.85% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -7.1 | -7.1 | -6.6 | -46.5 | 0.0 |
Days Since Change | 43 | 43 | 43 | 127 | 221 |
7-Month High | 3.90% | 3.90% | 4.25% | 2.51% | 0.01% |
7-Month Low | 3.45% | 3.45% | 3.85% | 0.05% | 0.01% |
Adjustments / Mo | 0.27 | 0.27 | 0.27 | 0.41 | 0.00 |
Volatility Score | 0.044 | 0.044 | 0.037 | 1.328 | 0.000 |
How to read these metrics(Click to expand)
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Compare Forbright Bank's APY of 3.85% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Forbright Bank vs Ally Bank | 3.20% | $0 |
| Forbright Bank vs American Express | 3.30% | $0 |
| Forbright Bank vs Axos Bank | 4.21% | $0 |
| Forbright Bank vs Bank of America | 0.01% | $100 |
| Forbright Bank vs Barclays | 3.85% | $0 |
| Forbright Bank vs Capital One | 3.30% | $0 |
| Forbright Bank vs Chase Bank | 0.01% | $0 |
| Forbright Bank vs Chime | 3.00% | $0 |
| Forbright Bank vs CIT Bank | 3.75% | $100 |
| Forbright Bank vs Citibank | 3.20% | $0 |
| Forbright Bank vs Discover Bank | 3.30% | $0 |
| Forbright Bank vs EverBank | 3.90% | $0 |
| Forbright Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Forbright Bank vs Newtek Bank | 4.20% | $0.01 |
| Forbright Bank vs Openbank | 4.09% | $500 |
| Forbright Bank vs Pibank | 4.60% | $0 |
| Forbright Bank vs SoFi Bank | 4.00% | $0 |
| Forbright Bank vs Synchrony Bank | 3.50% | $0 |
| Forbright Bank vs Varo Bank | 5.00% | $0 |
| Forbright Bank vs Wealthfront | 3.95% | $0 |