Forbright Bank Review 2026: Savings and CDs
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Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Overview
Forbright Bank is an online bank that offers certificates of deposit and a high-yield savings account. You’ll need an account at an external bank to fund and withdraw from your account, which isn’t always the case for online banks, some of which partner with an ATM network or cash deposit service to allow customers to deposit and withdraw cash. But if you’re planning to let your money sit and earn interest, then Forbright’s offerings can work well for you. Forbright is Green Business certified, making it one of the few banks that has an environmental mission in addition to offering a savings account with such a high rate.
No monthly fees.
Competitive rate on savings account.
No minimum opening deposit on savings account.
Highly rated mobile apps.
No checking account.
No cash deposit or withdrawals.
Limited branch access.
Must already have another bank account to fund your account.
Product reviews
Savings
Forbright’s Growth Savings account comes with a high-yield 3.85% APY, and there is no monthly fee or minimum deposit requirement.
A drawback of the account is that there’s no way to make cash deposits or withdrawals. If you want to fund your account or make a withdrawal, you have to transfer your money from or to an existing account at another bank, and transfers can take up to five days to arrive in your external bank account. On the plus side, customers can make an unlimited number of transfers and there is no fee to do so.
» Want more options? Take a look at the best high-yield savings accounts
Certificates of deposit
Forbrights CD rates are solid, though higher rates can be found elsewhere. Each CD has a minimum opening deposit requirement of $1,000, which is a fairly common amount, though some banks have lower opening deposit requirements or even no minimum.
» Check out other rates: See our picks for the best CD rates
Full List of CD Rates
| Term | APY | Min Deposit |
|---|---|---|
| 9 months | 4.15% | $1,000 |
| 1 year | 3.65% | $1,000 |
| 3 years | 3.25% | $1,000 |
| 5 years | 3.25% | $1,000 |
Forbright Bank CD
Customer experience & overdraft fees
Customer experience
Forbright Bank is primarily an online bank, with only two physical branch locations in Maryland. Customers can get in touch with customer service via phone from 8 a.m. to 8 p.m. EST Monday through Friday. The bank’s mobile apps are both highly rated in the Google and Apple stores as well.
Forbright is also Green Business Certified by Green America, meaning that the bank meets certain industry standards related to the environment and social justice.
» See how Forbright Bank stacks up: check out our list of best online banks
Rating methodology
How we rate banks and credit unions
Banking writers and editors use an objective methodology to rate banks, credit unions, and other providers, and to recommend the best products.
100+
Financial institutions reviewed
100+
Financial institutions reviewed
We took a close look at around 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
30+
Categories assessed
30+
Categories assessed
Each provider is evaluated across five weighted categories and 30 subcategories, including checking and savings accounts, certificates of deposit, customer experience, and overdraft services. For banks or credit unions without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
60+
Data points analyzed
60+
Data points analyzed
We considered more than 60 data points for each provider. Depending on the category, these included account fees and rates (such as annual percentage yields), ATM and branch access, account features, account bonuses, customer service access and user-facing technology, such as innovative tools and mobile apps. We gathered this information for each financial institution from its website, a media representative or both.
Star rating categories
The review team is made up of seasoned writers and editors who cover personal banking deposit accounts, such as checking, savings and certificates of deposit, as well as related banking services, such as overdraft programs and ATM networks. For providers without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Alto, Amalgamated Bank, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, BMO, Boeing Employees Credit Union, Bread Savings®, BrioDirect, Capital One, Cash App, CFG Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, Climate First Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Discover® Bank, E*TRADE, EverBank, Fifth Third Bank, First Foundation, First Internet Bank, First Tech Federal Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, GO2bank, Golden 1 Credit Union, Hope Credit Union, HSBC Bank, Huntington Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, OMB Bank, OnePay, Openbank, PayPal, Peak Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Valley Bank, Varo, Venmo, Vio Bank, Wells Fargo, Western Alliance Bank, Zolve and Zynlo Bank.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for banks and credit unions and our editorial guidelines.