I signed up a month ago because the 2.75% rate was materially higher than other banks. The process was very easy to set up online and I was able to link my Fidelity, Vanguard and B&M bank accounts very easily. The website and App are efficient and easy to use.
The only caveat is that you need to average 12,500 steps per day over a month to earn the highest rate. The Bank has a separate App that syncs with your Fitbit, Apple Watch or other fitness tracker.
I am very pleased so far and I hope that Fitness Bank maintains its competitive rate advantage.
I'm a reasonably active person, so I bought a Fitbit to see if I average enough steps to net me a nice interest rate. I spent a week watching my steps and then went to open an account and discovered that sometime during that week the bank stopped taking on new customers.
So I spent north of $100 on the device and I can't open an account with the bank... Total gain: -$115.
That was about 6 weeks ago.
|FDIC Certificate #||29510|
|Return on Assets - YTD||0.5%|
|Return on Equity - YTD||4.79%|
|Annual Interest Income||$26.7MM|
|Assets and Liabilities|
|Assets||Q4 2020vs Q4 2019||$853.0MM$319.2MM|
|Loans||Q4 2020vs Q4 2019||$591.8MM$248.0MM|
|Deposits||Q4 2020vs Q4 2019||$643.0MM$250.2MM|
|Equity Capital||Q4 2020vs Q4 2019||$82.0MM$62.6MM|
|Loan Loss Allowance||Q4 2020vs Q4 2019||$6.4MM$4.2MM|
|Unbacked Noncurrent Loans||Q4 2020vs Q4 2019||$4.9MM$2.6MM|
|Real Estate Owned||Q4 2020vs Q4 2019||$1.3MM$140.00K|
Always verify rates and promotions with the bank or credit union. We are not FitnessBank; we are a rate comparison website and cannot provide official rates or promotions.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|0.65%||$100||$250k||Fitness Savings (12,500+ Steps)|
|0.65%||$100||$250k||Senior Fitness Savings (10,000+ Steps)|
|0.55%||$100||$250k||Fitness Savings (10,000 - 12,499 Steps)|
|0.55%||$100||$250k||Senior Fitness Savings (7,500 - 9,999 Steps)|
|0.45%||$100||$250k||Fitness Savings (7,500 - 9,999 Steps)|
|0.45%||$100||$250k||Senior Fitness Savings (5,000 - 7,499 Steps)|
|0.35%||$100||$250k||Fitness Savings (5,000 - 7,499 Steps)|
|0.35%||$100||$250k||Senior Fitness Savings (0 - 4,999 Steps)|
|0.25%||$100||$250k||Fitness Savings (0 - 4,999 Steps)|
FitnessBank is an Internet only bank and does not have branch locations. Its headquarters is located at 400 Galleria Parkway SE Suite 900 - Atlanta, GA 30339