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Growth CD Product Guide

Learn everything you need to know about our Certificate of Deposit (CD).

About Growth CD

Use this easy-to-follow guide to learn about Forbright Bank’s online high-yield Certificate of Deposit (CD) account, Growth CD, which is designed for savers who want to lock in a competitive rate while enjoying security and digital convenience.

Financial Highlights of Growth CD

FeatureGrowth CD Facts
Current APYCompetitive, Fixed APY for the Term (See Growth CD Product Page for Current Rates)
Term OptionsMultiple Terms Available, from 9 Months to 5 Years
Monthly Fees$0
Minimum Opening Deposit$1,000 Minimum Within 10 Days of Account Opening
Interest CompoundingCompounded Daily, Paid Monthly
FDIC InsuredFDIC Insured

Advertised Annual Percentage Yield (APY) is subject to change at any time but is fixed for the term once your account is opened. All Growth CD accounts are available exclusively online.

No Fees

Forbright Bank is committed to helping customers meet their financial goals. With Growth CD, we never charge account maintenance fees. There are no monthly maintenance fees and no fees for standard ACH transfers.

Early withdrawal penalties may apply if you access funds before the CD matures. No withdrawals are allowed within the first 25 days of account opening.

Deposits and Transfers

Funding your Growth CD is simple and secure. To open an account, you simply select a CD term, enter your information, and deposit a minimum of $1,000 within the first 10 calendar days of account opening, inclusive of the account opening date. Deposits are made via ACH transfer from a linked external bank account.

You can make an unlimited number of transfers during the first 10 days. Subsequent transfers or additional funding are not permitted until maturity, in accordance with standard CD policies.

Penalty-Free Paid Interest Transfers

Forbright Bank offers the benefit of penalty-free paid interest transfers on Growth CD. This means Growth CD customers can set up recurring monthly withdrawals of interest or choose a one-time, per-term disbursement of all paid interest.

10-Day Best Rate Assurance

With our 10-day best rate assurance, you will automatically receive the best published Growth CD rate for your term if rates increase during the first 10 calendar days of account opening, inclusive of the account opening date.

Digital-First Convenience

You can apply for a Growth CD online in minutes. From there, you can manage all your digital Forbright Bank accounts 24/7 via our highly rated mobile app. We also provide advanced encryption and secure cloud-based storage keep your data protected, giving you peace of mind throughout your CD term.

Environment-First Commitment

  • Eco-Friendly Defaults: All accounts are automatically enrolled in paperless e-statements to reduce waste.
  • Impactful Financing: Forbright Bank finances projects like renewable energy and affordable housing, contributing to a sustainable future.

Additional Growth CD Benefits

  • Top-Rated Banking Mobile App: Manage your CD alongside other Forbright Bank accounts in one place, with advanced security and digital excellence.
  • National Park Foundation Partner: By banking with us, you support efforts to protect America’s treasured landscapes.
  • Green Business Certified by Green America: Operate with a carbon-neutral footprint as part of our eco-friendly commitment.

Other Things to Know About Opening an Account

  • Funding: Growth CD is a digital-only product. Initial funding is handled via secure ACH transfer from a linked external bank account or by transferring funds from a linked account within online banking.
  • Account Activity: Your CD begins earning interest as soon as funds are received and credited. Forbright Bank offers the benefit of penalty-free paid interest transfers on Growth CD. This means Growth CD customers get access to the paid interest on their Growth CD account – without penalty – on a monthly or once-per-term basis. In other words, you can opt into recurring monthly withdrawals of interest or choose a one-time, per-term disbursement of all paid interest.

Please note that interest is paid monthly and must be credited to your Growth CD account before you can transfer it. You cannot withdraw accrued interest that has not yet been paid.

Customer Support

Have questions? Reach out to our Customer Care Team:

Phone: 1 (800) 550-0159 (Monday to Friday, 8 a.m.–8 p.m. ET, excluding holidays)

Secure Message: Log in to your account, go to Messages, and click the pen icon to write your message

Help Center: www.forbrightbank.com/help

Start Saving for Your Goals Now

Supercharge your savings with a high-yield Certificate of Deposit.

Open an Account

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