About
Emirates NBD Fitness Account, the first fitness based savings account designed for the Apple Watch.
Innovation presentation
Emirates NBD is introducing the ‘Emirates NBD Fitness Account’, a mobile-based savings account that combines smart banking with customers’ fitness and lifestyle needs. This is the first fitness savings account designed for the Apple Watch and allows customers to earn higher interest on their balances linked to their level of physical activity.
Customers will earn interest of up to 2% p.a. on their savings based on the number of steps that they walk or run daily. Starting with a base rate of 0.25%, interest rates start stepping up with the number of steps that customers take daily, climbing to 0.50% p.a. as soon as they clock 5000 steps, 1% p.a. when they walk 8000 steps and to 2% p.a. when they cross 12000 steps.
The steps will be measured by an Apple Watch or other compatible fitness devices through the day - while the customer is having a morning jog, a walk from the metro station to the office, a game of squash or enjoying a dance in the evening! The steps count will be tracked by the bank’s Fitness App which will translate them to interest on the account balances at the end of each day, making an active and healthy lifestyle also a more financially rewarding one.
Also, as part of the customer value proposition, Fitness Account customers will get a free insurance cover of USD 30,000 provided by the leading global insurer MetLife, subject to clocking in a minimum level of activity daily. In addition, customers will enjoy free vouchers and rewards for over USD 300 from leading fitness and sports brands such as Fitness First, the world’s leading health and fitness chain, Adidas, a global leader in athletic footwear, clothes and accessories and Beyond Fitness that specializes in high performance sporting apparel, footwear and wearable tech.
Uniqueness of the project
Emirates NBD is one of the leading banks in the UAE, and has continued a commitment to innovative banking solutions, moving with the market trends to meet customer demand. We look at digital banking as the key enabler for our business and, in this context, a key priority for the Bank. Mobile services is also a crucial strategy for driving customer experience as well as operational efficiency.
Having this in mind, the Emirates NBD Fitness Account is the first fitness savings account designed for the Apple Watch that allows customers to earn higher interest on their balances linked to their level of physical activity
As a leading home-grown financial institution, we have worked closely with several leading global names such as Fitness First, Beyond Fitness, Adidas and MetLife, to name a few, to ensure that our customers have access to unrivalled, value-added lifestyle benefits.
