Earn 11 Times the Average Interest and Support Eco-Friendly Initiatives with This Bank
These days, Americans have plenty of high-yield savings accounts to choose from, thanks to the Federal Reserve’s interest-rate hikes that have pushed savings account rates to their highest levels in over 20 years. The national average interest rate on a savings account is currently 0.45% APY, which is much better than a decade ago, but you can find even higher rates.
One great option is Forbright Bank, offering a 5.30% APY on its high-yield Growth Savings account, which is more than 11 times the national average.
Forbright Bank is also committed to fighting climate change. As one of the few banks that have signed the United Nations Principles for Responsible Banking, it prioritizes sustainability and responsible financial management.
The Growth Savings account offers a 5.30% APY, one of the highest in the industry, with no account fees. There’s no minimum balance requirement, but if your account stays at zero for 21 days, it will be closed for safety reasons. You can reapply at any time. Your deposits are protected by the FDIC up to $250,000 per depositor, per insured bank, for each account ownership category.
Since Growth Savings is a digital high-yield savings account, it doesn’t support ATM withdrawals or come with a debit card. However, you can make unlimited transfers to your chosen checking account for cash access. Opening an account is straightforward and requires your contact info, Social Security Number, and existing bank account details.
Forbright Bank stands out for its focus on funding responsible programs. About one-third of its portfolio supports clean energy and sustainable projects, including residential solar loans, green building upgrades, and accessible healthcare. The bank has earned a fossil-free certification from Bank.Green and adheres to U.N. Sustainable Development Goals.
Forbright Bank is committed to staying carbon neutral and offers employee bonuses for purchasing solar panels and electric vehicles, reimbursements for sustainable subscriptions, and rewards for using public transit or biking to work.
In March, Forbright Bank announced support for the National Park Foundation, donating $250,000 to help protect public lands and connect people to over 400 national parks. The bank continues its engagement through employee initiatives and special offerings.
Last year, Forbright Bank partnered with GRID Alternatives Mid-Atlantic to install a solar energy system on a Habitat for Humanity home in Alexandria, Virginia, providing clean energy access to a family in need.
If you want to earn more than 11 times the national average interest on your savings while supporting the environment, it’s easy to apply for an account with Forbright Bank and start earning 5.30% APY.