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FitnessBank

Deposits held and insured by Newton Federal Bank

Overview / Commentary
fitnessbank.fit
855-463-4825
400 Galleria Parkway SE Suite 900
Atlanta, GA 30339
Deposits held and insured by Newton Federal Bank

Related Posts

Fitness Bank's Top Rate Drops To 2.20%, State Bank Of India Takes Over 1st Place - 12/31/2019

Fitness Bank's top available rate (for 12,500 steps per day) has dropped to 2.20%. This makes State Bank of India, at 2.25%, the national rate leader for savings accounts with balance requirements of under $1,000. SBI requires a minimum balance of $500 in order to avoid fees.

FitnessBank Savings Account Still Leads But Rates Have Fallen - 11/8/2019

FitnessBank recently cut rates again on its Fitness Savings Account. The top rate fell from 2.75% to 2.60% APY at the start of November.

Lowered Their Rates To A Max Of 2.75% - 9/2/2019

It appears that they only kept their rates at a possible max of 3% for one month.

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Reviews (2)

So Far So Good

Posted by: |

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.

19

Why Is This Listed If No One Can Join?

Posted by: |

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.

6


Health
A+

Data as of Q4 2019

Data displayed below is for insuring bank: Newton Federal Bank
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #29510
Year Established1928
Employees81
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.27%
Return on Equity - YTD1.36%
Annual Interest Income$14.5MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$319.2MM$309.1MM
LoansQ4 2019vs Q4 2018$248.0MM$227.7MM
DepositsQ4 2019vs Q4 2018$250.2MM$233.2MM
Equity CapitalQ4 2019vs Q4 2018$62.6MM$60.7MM
Loan Loss AllowanceQ4 2019vs Q4 2018$4.2MM$4.0MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$2.6MM$1.8MM
Real Estate OwnedQ4 2019vs Q4 2018$140.00K$508.00K
Rates

Rates for FitnessBank are currently being reviewed.

Locations

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

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.