Forbright Bank offers savings rate of 4.15% APY

A high-yield savings account today can pay up to 4.15% APY, the best rate available on Friday, August 7, 2026. Forbright Bank is offering that 4.15% annual percentage yield, according to Yahoo Finance. Most traditional banks pay less than 0.4% on plain savings accounts, so the gap between “ordinary” and “high-yield” is now more than ten times.

Savings rates move with the Federal Reserve’s target rate. After the 2008 crash the Fed kept its benchmark near zero for years, pushing average savings yields down to 0.06%. Low rates returned during the pandemic, but the Fed has since raised its target repeatedly to fight inflation. Each increase pushes deposit rates higher, and banks like Forbright are now competing to attract cash with rates above 4%.

At 4.15% APY, $1,000 would earn about $41.50 in a year with daily compounding. The same $1,000 in an account paying the national average of 0.38% would earn just $3.81. A $10,000 balance at the top rate would bring in roughly $415 instead of $38, a difference of nearly $380. Shopping the best offers can turn idle cash into meaningful extra income.

Rates will keep shifting with the Fed. If the central bank cuts its target again, banks typically trim their savings yields within weeks. For now, savers can lock in high yields by moving money to top-paying online accounts, but the window may not stay open forever.