Forbright Bank Review 2025
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At a glance
Best eco-friendly bank
Overview
Forbright Bank can be a convenient option if you prefer in-person banking and live in the areas of Maryland and Virginia where there are a few branches. Accounts that can be opened online include the Growth Savings account and certificates of deposit (CDs). For accounts that include ATM access, customers receive unlimited fee refunds for withdrawals from non-Forbright ATMs. Some accounts earn high yields and charge low-to-no monthly service fees.
Highlights:
High APY ATM Fee Refunds Free CheckingHighlights:
CDs
Checking
Savings
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 = 4.2/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
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 Savings rating = 4.7/5
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.
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.
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.
Overall
Forbright Bank offers a full range of personal bank accounts as well as credit cards and loans. While CDs and the Growth Savings account can be opened online, all other deposit accounts need to be opened at a branch.
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.
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The checking account charges no service fees and earns very high interest when balance requirements are met.
Cons
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Forbright Bank only offers four full-service branches in two states.
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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 top-notch 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.
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, with some being particularly competitive.
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 much higher than other online banks require.
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.
Forbright Bright Checking account
Pros
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The Bright Checking account earns a highly competitive APY when you meet balance requirements.
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The account’s minimum opening deposit requirement is low.
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No monthly fees are charged.
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Forbright refunds all surcharges from banks when non-Forbright ATMs are used.
Cons
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You must visit a branch to open a Bright Checking account.
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No interest is earned on balances of less than $2,500.
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A balance of at least $250,000 is required to earn the highest yield.
How Forbright Bank compares to other banks
Compare different account types offered by Forbright. Annual percentage yields (APYs) shown were updated between Feb. 15, 2025 and Feb. 21, 2025.
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Selected bank
Forbright Bank savings account
Bankrate score
5.0
Bankrate Savings rating = 5.0/5 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 Feb. 15, 2025 and Feb. 21, 2025.
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| 4.25% | 3.70% | |
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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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| $2,125 | $1,850 | |
| 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 competitive yield on its Online Savings Account. The online bank doesn’t have the absolute highest yield, but it offers a competitive one and doesn’t have a minimum balance requirement or a monthly service fee. The bank offers mobile deposit, but you’ll need to transfer money to the Ally checking account or money market account if you want to access money in your savings from an ATM. | |
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Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | None |
| Non-sufficient funds fee | None |
| Monthly maintenance fee | None |
| Out-of-network ATM fee | None |
| Excessive transaction fee | None |
Customer experience
Physical presence. Forbright Bank operates four full-service branches in Maryland and Virginia. Forbright has a handful of accounts that must be opened online, including the Bright Checking account.
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. Growth Savings 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.
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.
Forbright Bank customer reviews
Forbright Bank has 21 reviews
Dive into community reviews below and see what others think about Forbright Bank.
In July 2024, Bankrate collaborated with a third-party vendor to survey 1,200 bank account holders nationwide. Bankrate and our vendor collected and summarized account holder responses to five rating questions on a 5-point scale as well as open-ended reviews of the banking experience. Responses are based on individual account holder product details, and therefore cannot be verified for accuracy. Reviewers received an incentive for their feedback. Their ratings are unedited and have not been reviewed or approved by the associated bank or credit union, nor do these responses reflect Bankrate's own expert review of these banking products.
Community Reviews
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