This bank is offering 21 percent interest rate with a catch
21% interest rate offered by a bank seems to good to be true but a bank in Ukraine is offering just that. The catch however is that the bank account holder must walk 10000 steps per day. The bank has started this unique scheme to encourage walking among people. The starter of such a unique scheme is the Mono Bank of Ukraine, which started in 2015. With this unique plan, the number of account holders in this bank has exceeded five lakhs.
Increasing obesity and heart disease in Ukraine
Generally, one gets 8 to 9 percent interest rate on their savings in the bank in Ukraine. But Mono Bank is paying its customers an interest rate of 21 percent on their savings. For this, the bank has given its customers the target of doing ten thousand steps every day. The funny thing is that people are walking even more and more on the go for more interest. As a result, the bank is paying 21 percent interest on their deposits to 50 percent of the subscribers. Behind the unique initiative of this kind, the bank’s thinking has been very special. In the rate of those who die of heart disease, Ukraine comes second in the world. About 400 people die from heart disease in every one lakh people. Apart from this, the number of obese people is growing steadily in the UK, which is becoming a major cause of heart disease. According to a survey, by 2030, 50% of the men will be victims of obesity. In view of this, the bank started working on such a plan.
Sports Deposit Account
Mono Bank named the accounts opened under this scheme as the Sports Deposit Account. To get more interest, customers need to download an app in their mobile phone. Through this app, users will have to send their physical activity information to the bank daily. Through this app, the bank monitors the physical activities of the users. The entire data is with the bank. The users who stand on the criteria of the bank provide the amount in the bank savings account as 21 percent interest. If one walks less than 10,000 steps for three consecutive days, then they get only 11 percent interest. If a customer cheats with the bank, then the bank deducts the interest rate of that customer.
