Forbright Bank vs. Wells Fargo
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of Forbright Bank vs. Wells Fargo
Key Metrics at a Glance
| Feature | Forbright Bank | Wells Fargo |
|---|---|---|
| Top Savings APY | 4.00% Growth Savings | 0.05% Platinum Savings |
| Minimum to Open | $0 | $25 |
| Minimum Balance for Top APY | $0 | $1,000,000 |
| Note | 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. |
Forbright Bank
Strengths
- Forbright Bank's Growth Savings offers a competitive APY of 4.00%.
- Forbright Bank has an A+ BBB rating and is BBB Accredited.
- Forbright Bank has no maintenance fees on its accounts.
Potential Drawbacks
- Forbright Bank has limited branch locations in the Washington D.C. area.
- Forbright Bank's Bright Savings requires a $250,000 minimum balance for its highest APY.
Wells Fargo
Strengths
- Wells Fargo offers extensive branch access across 36 states and D.C.
- Wells Fargo's Way2Save Savings has a low minimum deposit of $25.
Potential Drawbacks
- Wells Fargo's Platinum Savings has a very low APY of 0.05%.
- Wells Fargo has a D- BBB rating and is not BBB Accredited.
Summary: Forbright Bank offers a significantly higher APY of 4.00% on its Growth Savings account compared to Wells Fargo's 0.05% on the Platinum Savings account. While Wells Fargo provides extensive branch access, it lacks the trustworthiness indicated by its D- BBB rating. Forbright Bank also has no maintenance fees, making it a more appealing option for high-yield savings despite its limited branch locations.
→ As of November 12, 2025 Forbright Bank offers an APY of 4.00% for its Growth Savings account, with a minimum balance of $0, compared to Wells Fargo's 0.05% APY for its Platinum Savings account, with a minimum balance of $1,000,000.
→ Forbright Bank yields $395 more than Wells Fargo on a $10,000 balance after one year. Forbright Bank pays $400, while Wells Fargo pays $5 - an APY advantage for Forbright Bank.
→ In addition, Forbright Bank also offers 3.65% APY for the Bright Savings account, while Wells Fargo offers 0.01% APY for the Way2Save Savings account.
Calculate Savings Growth for Forbright Bank vs Wells Fargo
All calculations are based on APY.
Forbright 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 OverviewWells Fargo - Platinum Savings
Top APY: 0.05%
⚠️The higher APY only applies once your balance reaches $1,000,000.
Total savings breakdown:
- Interest earned: $28.6 (0.16%)
- Total contributions: $13,000 (72.11%)
- Initial deposit: $5,000 (27.73%)
Your total balance
$18,028.60
Effective APY: 0.05% (based on your deposit and contributions)
Total balance: $18,028.6
Earnings: $28.6
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Forbright Bank's total earnings would be $2,406.1 higher than Wells Fargo's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Forbright Bank's vs Wells Fargo's Savings Accounts
| Forbright Bank | Wells Fargo | |||||
|---|---|---|---|---|---|---|
| Product | Growth Savings | Bright Savings | Sprout Savings | vs | Way2Save Savings | Platinum Savings |
| APY | 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) | 0.01% (as of 11/12/2025) | 0.05% - 0.05% (as of 11/12/2025) | |
| Bundled Account | No | No | No | No | Yes | |
| FDIC-insured | Yes | Yes | Yes | Yes | Yes | |
| Online Only | Yes | No | No | No | No | |
| Compound Frequency | Daily | Daily | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $250 | $1 | $25 | $25 | |
| Minimum Balance for APY | $0 | $250,000 | $0.01 | $0 | $1,000,000 | |
| Maintenance Fee | $0 | $0 | $0 | $5. Waived under some circumstances. | $12. Waived with $3,500 minimum daily balance. | |
| Direct Deposit Required | No | No | No | No | No | |
| Eligibility | 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) | United States | United States | |
| Note | 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. | 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. | |||
| App Store Rating | 4.8/5 | 4.9/5 | ||||
| Google Play Rating | 4.6/5 | 4.8/5 | ||||
| BBB Rating | A+ | D- | ||||
Comparative Historical APY Insights (Last 4 Months)
| Forbright Bank | Wells Fargo | |||||
|---|---|---|---|---|---|---|
| Product | Sprout Savings | Bright Savings | Growth Savings | vs | Platinum Savings | Way2Save Savings |
| Latest APY | 3.65 % | 3.65 % | 4.00 % | 0.05 % | 0.01 % | |
| Trend | Falling | Falling | Falling | Falling | Sideways | |
| Slope (bps/mo) | -8.5 | -8.5 | -7.9 | -70.3 | 0.0 | |
| Rate Changes / Mo | 0.25 | 0.25 | 0.25 | 0.74 | 0.00 | |
| Days Since Last Change | 43 | 43 | 35 | 27 | 121 | |
| High (-4 m) | 3.90 % | 3.90 % | 4.25 % | 2.51 % | 0.01 % | |
| Low (-4 m) | 3.65 % | 3.65 % | 4.00 % | 0.05 % | 0.01 % | |
| Draw-down from High | -6.4 % | -6.4 % | -5.9 % | -98.0 % | 0.0 % | |
| Volatility (CV) | 0.032 | 0.032 | 0.028 | 0.600 | 0.000 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 4 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 (-4 m)
- Highest APY in the last 121 days.
- Low (-4 m)
- Lowest APY in the last 121 days.
- Draw-down from High
- How far today sits below the 4-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.