Forbright Bank Review 2025
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Edited by
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At a glance
Overview
Forbright Bank offers accounts that earn solid yields and charges low-to-no monthly service fees. But you can only open the Growth Savings account and certificates of deposit (CDs) online. The checking and money market account have to be opened in a branch, which are only in Maryland and Virginia. Because of this, we didn't include those two accounts in our rating.
Highlights:
High APY ATM Fee RefundsHighlights:
CDs
Savings
Customer Experience
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD rating = 4.2/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Forbright Bank pros and cons
Pros
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All Forbright CDs come with a solid yield.
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The Growth Savings account offers a stellar yield.
Cons
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Forbright Bank only offers two full-service branches in Virginia, and three hubs in Virginia and Maryland.
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CDs and one savings account can be opened online, but you’ll need to visit a branch to open any other deposit account.
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Forbright Bank banking products
Forbright Growth Savings account
Pros
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The Growth Savings account earns a solid annual percentage yield (APY), which you can earn on any balance.
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There’s no minimum opening deposit requirement.
Cons
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The Growth Savings account does not come with ATM access.
Forbright’s Growth Savings account earns a respectable annual percentage yield (APY) and doesn’t require any minimum opening deposit. It also earns interest on any balance. The one minor drawback is that ATM access is not provided for this account, which means you won't be able to pull from savings on the go.
Forbright also offers Bright Savings and Sprout Savings accounts, both of which need to be opened in a branch. Bright Savings has a tiered structure, with a competitive APY for balances of at least $250,000. Sprout Savings, open to those younger than 18 years of age, pays a competitive APY on balances up to $10,000. Both of these accounts provide ATM access and unlimited reimbursement of surcharges for using non-Forbright ATMs.
Rate history for Forbright's Savings account
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Forbright Bank certificates of deposit (CDs)
Pros
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All Forbright CDs offer solid yields that are above the national average.
Cons
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Only a handful of CD terms are available.
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While relatively standard, Forbright’s minimum opening deposit requirement is higher than other online banks require.
Forbright Bank offers five terms for its online Growth CDs that range from nine months to five years. The yields for all five CDs are well above the national average, but you can find higher yields at other banks. A minimum deposit of $1,000 is required to open a CD — higher than what you may find at other banks.
Rate history for Forbright's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
Customer experience
Physical presence. Forbright Bank operates two full-service branches in Maryland and four hubs across Maryland and Virginia. Forbright has a handful of accounts that must be opened in-person, including the Bright Checking account and the Platinum Money Market Account. (Bankrate doesn't score these accounts because of this requirement.)
Customer support. Customer service for branch banking can be reached over the phone Monday through Friday from 9 a.m. to 8 p.m. ET. Digital banking customer service is available weekdays between 8 a.m. and 8 p.m. ET.
Digital experience. The bank offers a basic mobile app through which Android and Apple users can check balances, deposit checks, pay bills and transfer money between accounts. While user reviews for the mobile app are generally positive, keep in mind that not many users have rated the app.
How Forbright Bank compares to other banks
Compare different account types offered by Forbright. Annual percentage yields (APYs) shown were updated between March 13, 2026 and March 19, 2026.
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Selected bank
Forbright Bank savings account
Bankrate score
4.9
Bankrate Savings rating = 4.9/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Most comparable
Ally Bank savings account
Bankrate score
4.4
Bankrate Savings rating = 4.4/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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Bankrate score
Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between March 13, 2026 and March 19, 2026.
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| 3.85% | 3.20% | |
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Minimum balance for APY
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| $0.00 | $0.00 | |
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Estimated earnings
Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
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| $1,925 | $1,600 | |
| Forbright Bank’s Growth Savings account earns a highly competitive yield, without requiring a minimum opening deposit or charging monthly service fees. | Ally Bank consistently offers a strong yield on its Online Savings Account. It’s not usually the absolute highest yield, but it is competitive and there’s no minimum balance requirement and no monthly service fee. The bank offers mobile deposit but you’ll need to transfer money to your checking account or Ally’s money market account if you want to access your savings from an ATM. | |
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Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
