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Forbright Bank Review: A Green Bank With Great Rates and a Purpose

Review Updated
Brooklyn Sprunger
Author: Brooklyn Sprunger
Brooklyn Sprunger
Brooklyn Sprunger

Brooklyn leads the content team behind product reviews and ratings at Motley Fool Money, ensuring readers get well-researched, expert-backed insights to make smarter financial decisions. With nearly seven years working full-time in financial content -- four of them at The Motley Fool -- she has developed a deep passion for personal finance, from investing strategies to everyday money management. Her financial goals include buying a house and planning as many trips as her budget allows. In her free time, you’ll likely find her listening to a pop culture podcast or telling anyone who will listen to get a high-yield savings account.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. APY = Annual Percentage Yield.

If you've ever wished your bank did more than just hold your money -- like maybe fight climate change -- Forbright Bank might catch your attention.

Formerly known as Congressional Bank, Forbright is a digital-first bank with a small physical footprint around Washington, D.C. But its real standout feature? It's certified "Fossil-Free," meaning it doesn't lend to fossil fuel projects like coal mining or oil drilling. That's a big deal in the banking world, where most institutions still fund industries contributing to climate change.

If you're looking for solid interest rates and want to feel good about where your money is going, this is a bank worth considering.

Offer image for
Member FDIC.

Forbright Bank

Bottom Line

Forbright Bank is a "green bank" focused on reducing carbon emissions, but it can also help increase your earnings on your saved cash. Its high-yield savings account and some of its CDs are competitive with those offering the best APYs.

Pros
  • High APYs on savings accounts and CDs
  • No minimum deposit for savings accounts
  • Open accounts online or at branches
  • Unlimited transfers from savings accounts
Cons
  • Limited branch locations (Maryland and Virginia)
  • $1,000 minimum opening deposit for CDs
  • Some accounts are not available online; only at branches

Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.

These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.

We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.

Learn more about how Motley Fool Money rates bank accounts.

Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.

These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.

We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.

Learn more about how Motley Fool Money rates bank accounts.

Forbright Bank digital banking

Forbright's digital products offer higher interest rates than its branch counterparts, which isn't surprising. Without the cost of maintaining physical locations, online banks often pass on the savings through better APYs, and Forbright follows that model.

Forbright Bank Growth Savings

Rates as of Jun 17, 2025

Forbright Bank Growth Savings

Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
APY
4.25%
Min. To Earn APY
$0.01
  • One of the highest APYs for savings accounts
  • No account maintenance fees or minimum balances
  • Unlimited transfers to move money from your account
  • No ATM access

The Growth Savings account pays the highest APY of any savings account at Forbright Bank. It can be opened online and accessed via mobile app. With this account, you won't get a debit card or ATM access. But you get unlimited transfers and yields that are competitive with the best savings accounts.

Forbright Bank CD

Rates as of May 29, 2025

APY = Annual Percentage Yield

Offer image for Forbright Bank CD
Forbright Bank CD
Bottom Line

Forbright Bank offers five CD terms ranging from nine months to five years. Its terms are competitive with CDs available from competing banks, especially for its 9-month and 12-month terms. You'll need a minimum deposit of $1,000 to open one of these CDs.

MINIMUM DEPOSIT $1,000
9 Mo. APY 1 Yr. APY 2 Yr. APY 3 Yr. APY 5 Yr. APY
4.00% 4.00% 3.50% 3.25% 3.25%

Forbright Bank branch banking

If you live in Maryland or Virginia and happen to be near one of its branches, you'll have access to additional products like high-interest and standard checking accounts, money market accounts, and more. But for the rest of us, Forbright is really all about the online experience.

Digital experience

Mobile app

The Forbright Bank mobile app is straightforward. You can check balances, deposit checks, transfer funds, and pay bills. While the app hasn't racked up tons of reviews, the feedback it does have is solid.

  • App Store rating: 4.8 / 5.0 stars
  • Google Play rating: 4.6 / 5.0 stars

Online banking features

Forbright's online banking is pretty bare bones, but it covers the basics. If you have an online-only HYSA or CD with Forbright, you'll be able to deposit, withdraw, see your balances, schedule recurring deposits, and transfer within its online banking platform. It's not fancy, but it gets the job done.

Fees and costs

One of the perks of Forbright's online accounts is the lack of a monthly maintenance fees. But like most banks, it does charge for certain things.

  • ATM use: $0
  • Incoming wire transfer: $10
  • Outgoing wire transfer: $25
  • Overdraft or NSF: $32
  • Check copies: $5 each

You can view the full fee schedule here.

Customer experience and reviews

Customer service availability

Customer service hours vary based on your account type -- and that can be a little confusing.

  • Digital banking: 800-550-0159, Monday to Friday, 8:00 a.m.- 8:00 p.m. ET
  • Branch banking: 888-855-7778, Monday to Friday, 9:00 a.m.- 8:00 p.m. ET

Unlike bigger banks, there's no 24/7 support, which might be a downside for some.

What customers say

Customers love the interest rates and how easy it is to use the site and app. On the flip side, some folks have had trouble getting in touch with support. That's not ideal for an online-first bank, where great digital service should be table stakes.

Security

Forbright Bank is FDIC insured, meaning your money is protected up to $250,000 per depositor for each account ownership category. That's the gold standard of banking protection. Beyond the basics, Forbright also has multi-factor authentication, activity monitoring, and security alerts. It checks all the boxes for basic financial security.

Keep reading: Are Online Banks Safe?

Environmental impact

This is where Forbright shines. It's not just talking the talk -- it's donated over $1 million to nonprofits and actively avoids financing fossil fuels. You can even estimate your carbon impact based on how much you deposit. For example, a $25,000 deposit could help prevent the equivalent of 2.4 metric tons of carbon emissions a year -- about 270 gallons of gasoline.

If you're passionate about climate change and want to support a bank that backs clean energy, Forbright is a rare gem.

How Forbright Bank compares

If you're exploring green banking options, here are a couple others worth a look:

  • Aspiration: A fintech that lets you earn interest and plant trees with your spending. It partners with a bank for FDIC insurance and focuses heavily on sustainability.
  • Climate First Bank: A Florida-based community bank that funds renewable energy projects and offers competitive rates on checking, savings, and CDs.

Who Forbright Bank is best for

You'll probably love Forbright if:

  • You're looking for top-tier rates on savings or CDs
  • You're comfortable with online-only banking
  • You want your money to support renewable energy, not fossil fuels

FAQs

  • Yes, Forbright is FDIC insured, which means your deposits are protected up to $250,000 per depositor, per ownership category.

  • Its Growth Savings account has no monthly fees or minimum deposit. However, it does charge for things like wire transfers, overdrafts, and check copies.

  • Absolutely. Most of Forbright's best products, like the Growth Savings account and CDs, are available online and don't require in-person access.

  • Yes. It's certified "Fossil-Free" and actively avoids funding fossil fuel projects. It also donates to nonprofits and supports clean energy initiatives.