Last Updated: 04/18/2025
Forbright Bank Bright Savings Account
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in Savings Accounts from Forbright Bank
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
Up to 4.25%(Verified 06/21/2024)
Minimum Opening Deposit
Starting at $250
Minimum Balance to Earn APY
$0.01
Forbright Bank Bright Savings Account Review
Forbright Bank Bright Savings Account is offered by Forbright Bank, a bank founded in 2003 and based in Chevy Chase, MD. Forbright Bank Bright Savings Account are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- High yield savings. This account offers an annual percentage yield of up to 4.25%, which is much higher than the average interest rate for a savings account.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- $250 minimum opening deposit. This is a typical minimum initial deposit.
- No ATM fees. Forbright Bank Bright Savings Account does not charge fees on ATM transactions .
Forbright Bank Bright Savings Account Pros & Cons
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Forbright Bank Bright Savings Account FAQ
Are savings accounts from Forbright Bank federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Does Forbright Bank offer a signup bonus?
Forbright Bank Bright Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for Forbright Bank Bright Savings Account?
The minimum deposit to open a Forbright Bank Bright Savings Account is $250.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $0.01 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Forbright Bank Bright Savings Account offer?
Forbright Bank Bright Savings Account offers an APY up to 4.25% (APY stands for annual percentage yield, rates may change). This is higher than the national average rate for savings accounts.
What fees does Forbright Bank Bright Savings Account charge?
Forbright Bank Bright Savings Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.
What features and perks does Forbright Bank Bright Savings Account offer?
This savings account includes the following features:
- Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
- Mobile Banking Services - Forbright Bank Bright Savings Account allows you to manage your money online or with a mobile app.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
Can you set up a direct deposit to Forbright Bank Bright Savings Account?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
What is the customer support email for Forbright Bank Bright Savings Account?
The customer support email for Forbright Bank Bright Savings Account is CustomerService@ForbrightBank.com.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 8:00PM
Tuesday
9:00AM - 8:00PM
Wednesday
9:00AM - 8:00PM
Thursday
9:00AM - 8:00PM
Friday
9:00AM - 8:00PM
Saturday
Closed