Fitness Bank 1.9% APY When You Have An Average Of 12,500+ Steps A Day

Update 4/6/20: Rate reduced to 1.9%

Update 3/9/20: Rate has decreased to 2.1% APY

Update 11/25/19: Rate will decrease to 2.3% APY on December 1st.

Update 11/7/19: Rate has been decreased to 2.6% APY

Update 8/31/19: Rate has been decreased to 2.75% APY from 3% APY.

Offer at a glance

The Offer

Direct link to offer

  • Fitness Bank offers a saving bank offering up to 2.75% APY. To receive this rate you need to be opted in for online banking and download the step tracker (this can be linked to Apple Health, Google Fit, Fitbit and Garmin). The rate you receive depends on the average daily steps:

The Fine Print

  • The interest rate on this account is based on the Average Daily Steps from the prior month.
  • Rate updates for average daily steps from the prior month are reviewed no later than the second Monday of the following month.
  • The initial APY will be 2.50% until the rate adjustment date following first full month that the account has been opened.
  • Rates are valid for accounts opened online and require a valid email address.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

This account has a $10 monthly fee, this is waived if you have a $100 daily balance.

Our Verdict

Never heard of fitness bank before, but it’s a division of Affinity Bank. This account is really only worth considering if you average 12,500+ steps a day, otherwise you’d be better off with another high yield savings account. I can also see this as a good motivator for people that want to improve their fitness. Will be interesting to see if it’s a hard or soft pull. If anybody has any experiences with this account please share them in the comments below. There is also a senior version of this account for those over 65 years of age with a slightly smaller step requirement.

Hat tip to reader Sasha & midas89

 

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Jenny
Jenny

Fitness dropped the rate to 1.05% and as usual did not notify customers.
I had to go to their site.
This bank is a mismanaged joke.
They promise awards for doing the daily steps and never send the crappy plastic medals.
They promised running shoes for winners in their Spring Challenge which were never sent either.

yo
yo

Yeah I closed this trash. App was ugly, website was awful and I locked myself out numerous times.

Jenny
Jenny

It’s down to .5 now. The Leaderboard is a joke. Should be called the Cheaterboard. These people
are up there with 100, 000 daily averages.
The site looks like a junior high school project.

Jenny
Jenny

This bank is a joke. Customer service is nonexistent.
Never saw such gross incompetence in my life.
The promise awards which are never sent.

Erik
Erik

1.75% now..

Marco
Marco

This has now dropped to 1.9% APY.

Jenny
Jenny

This is currently down to 2.1%,
No limits or other requirements besides the steps.

Erik Chou
Erik Chou

2.2% now

Erik Chou
Erik Chou

Also, new accounts are not available anymore. You need to join a waitlist.

J Sarayda S Shapiro
J Sarayda S Shapiro

As a severely disabled person, I hope the courts determine that this is illegal.

Mims
Mims

I hope people can make their own business decisions without judicial overreach. Did someone coerce you into doing business with this bank? Do you have no other banking options? Why do you need the “courts” to force this private business to change one account for you? (Of course, you could just bank elsewhere and enjoy a happy life.)

P
P

It’s very easy for me to do 12,500 steps a day. But it’s very hard to get approve for bank accounts. I don’t know why. Maybe cause I’m in Hawaii.

AC
AC

Which offers did you attempt? I’m also in hi. Homestreet has been my only nemesis. I’m gearing up for round two with PNC next month for 300.

P
P

Over the last couple of years,
Bank of America approval of 1 of 3
Wells Fargo approval of 1 of 3
Homestreet, rejection x 3
PNC, rejection x2 (claims they’ll send letter in the mail but never got)
Chase, rejection x 4
Citi, rejection x1
HSBC – rejection x2

AC
AC

How do you pursue Chase deposit bonuses? Do you go into a branch while on a mainland trip? I know the system kicks us out based on zip code, except for that one time last year where any state could get in if you acted quickly with a specific link.

sunny
sunny

Update 11/25/19: Rate will increase to 2.3% APY on December 1st.
Update 11/7/19: Rate has been decreased to 2.6% APY

I think you meant decreased ? from 2.6 to 2.3?

Lou
Lou

Put the tracker on my dog and let him run around