Deposits held and insured by Newton Federal Bank

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.

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.


Data as of Q1 2021

Capitalization grade does not factor in PPP loans and the use of the PPP Liquidity Facility.
Learn why bank health matters

Health Grade Components

FDIC Certificate #29510
Year Established1928
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.06%
Return on Equity - YTD9.8%
Annual Interest Income$6.5MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$798.4MM$646.0MM
LoansQ1 2021vs Q1 2020$619.3MM$520.9MM
DepositsQ1 2021vs Q1 2020$649.9MM$502.4MM
Equity CapitalQ1 2021vs Q1 2020$97.4MM$72.5MM
Loan Loss AllowanceQ1 2021vs Q1 2020$6.9MM$4.7MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$5.1MM$4.3MM
Real Estate OwnedQ1 2021vs Q1 2020$315.00K$772.00K
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FitnessBank Savings Account Rates

0.65%$100$250kFitness Savings (12,500+ Steps)
0.65%$100$250kSenior Fitness Savings (10,000+ Steps)
0.55%$100$250kFitness Savings (10,000 - 12,499 Steps)
0.55%$100$250kSenior Fitness Savings (7,500 - 9,999 Steps)
0.45%$100$250kFitness Savings (7,500 - 9,999 Steps)
0.45%$100$250kSenior Fitness Savings (5,000 - 7,499 Steps)
0.35%$100$250kFitness Savings (5,000 - 7,499 Steps)
0.35%$100$250kSenior Fitness Savings (0 - 4,999 Steps)
0.25%$100$250kFitness 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

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