This Bank's CDs Pay 5.25% -- and Help Fight Climate Change

Want to open a certificate of deposit (CD) that pays high interest -- while also helping support the fight against climate change? You can get 5.25% APY on a 1-year CD from Forbright Bank, a unique "green bank" that doesn't fund any fossil fuel projects.

Forbright Bank's APYs are some of the best we've seen from any CDs in America right now (as of May 30, 2024). Let's look at how to get the best CD rates from Forbright Bank and how this bank works.

Forbright Bank's best CDs: 1-year (5.25% APY) or 9-month (5.30% APY)

One of the best CDs you can get from Forbright Bank is its 1-year CD, which is offering 5.25% APY. So if you put $10,000 into this CD, after one year you'd earn $525. This rate is better than many of the best 1-year CDs.

Want an even higher APY? Forbright Bank's 9-month CD offers 5.30% APY -- so in nine months, with a deposit of $10,000, you'd earn $394.92. After the term is up, you can roll your CD over into a new nine-month CD. But just like with any CD, the APY won't necessarily be the same.

Our Picks for the Best High-Yield Savings Accounts of 2024

Capital One 360 Performance Savings APY 4.25% Rate info See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening. Min. to earn $0 Open Account for Capital One 360 Performance Savings Member FDIC.	APY 4.25% Rate info See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening.	Min. to earn $0
American Express® High Yield Savings APY 4.25% Rate info 4.25% annual percentage yield as of July 1, 2024 Min. to earn $1 Open Account for American Express® High Yield Savings Member FDIC.	APY 4.25% Rate info 4.25% annual percentage yield as of July 1, 2024	Min. to earn $1
Citizens Access® Savings APY 4.50% Min. to earn $0.01 Open Account for Citizens Access® Savings Member FDIC.	APY 4.50%	Min. to earn $0.01

Forbright Bank CDs all require a minimum opening deposit of $1,000. This is higher than some banks, but not an unreasonable amount if you're serious about earning higher yield on your savings.

How to open a 5.25% CD with Forbright Bank

You can open a CD with Forbright Bank online through the bank's website, just like any other online bank that offers CDs. But Forbright Bank also has a few branches in Maryland and Virginia, if you live in the area and want to open an account in person.

How Forbright Bank helps fight climate change

Fighting climate change is not just a matter of buying electric vehicles and making different choices in our lives as consumers. The banking industry can help reduce carbon emissions by changing the types of companies it lends to. Some major banks are still making loans to oil companies, coal companies, and other companies that produce the most carbon emissions and drive the biggest climate impacts.

Forbright Bank is different. It's a certified Fossil-Free Bank -- it does not provide financing to fossil fuel companies or projects. The deposits in your Forbright Bank CD will not be used to make loans to build oil wells or dig coal. Forbright Bank does, however, make lots of loans for solar panels and energy-efficient green building upgrades.

In fact, for every $1,000 you deposit with Forbright Bank, the bank estimates that you will make a climate impact that's equal to reducing carbon emissions by 0.1 metric tons. This is the same as avoiding the burning of 11 gallons of gasoline.

Bottom line

Forbright Bank CDs have some of the best APYs in America as of May 30, 2024. You can earn 5.25% for a 1-year CD or 5.30% APY for a 9-month CD with Forbright Bank. And this bank is certified as fossil-free, so your money will not be used to make loans to fossil fuel companies, like oil companies or coal mines. Forbright Bank is a "green bank" that is trying to reduce carbon emissions and fight climate change -- so choosing to open a CD there can help.