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||0.05%|
|Return on Equity - YTD||0.42%|
|Annual Interest Income||$13.3MM|
|Assets and Liabilities|
|Assets||Q2 2020vs Q2 2019||$909.9MM$306.6MM|
|Loans||Q2 2020vs Q2 2019||$636.1MM$243.7MM|
|Deposits||Q2 2020vs Q2 2019||$629.9MM$237.0MM|
|Equity Capital||Q2 2020vs Q2 2019||$78.9MM$61.8MM|
|Loan Loss Allowance||Q2 2020vs Q2 2019||$5.0MM$4.2MM|
|Unbacked Noncurrent Loans||Q2 2020vs Q2 2019||$4.0MM$1.5MM|
|Real Estate Owned||Q2 2020vs Q2 2019||$1.2MM$0|
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|
|0.70%||$100||$250k||Fitness Savings (12,500+ Steps)|
|0.70%||$100||$250k||Senior Fitness Savings (10,000+ Steps)|
|0.60%||$100||$250k||Fitness Savings (10,000 - 12,499 Steps)|
|0.60%||$100||$250k||Senior Fitness Savings (7,500 - 9,999 Steps)|
|0.50%||$100||$250k||Fitness Savings (7,500 - 9,999 Steps)|
|0.50%||$100||$250k||Senior Fitness Savings (5,000 - 7,499 Steps)|
|0.40%||$100||$250k||Fitness Savings (5,000 - 7,499 Steps)|
|0.40%||$100||$250k||Senior Fitness Savings (0 - 4,999 Steps)|
|0.30%||$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