ANN ARBOR—Plinqit, a brandable savings app that pays users for engaging with content, has exceeded $400,000 (and growing) in total deposits by users since launching last year.

Supporting this rapid increase in deposits, Plinqit is creating substantially higher user engagement (55 percent on average) compared to other savings apps, which average an engagement rate of only 36.3 percent, according to a 2018 report. Also, more than half (66 percent) of Plinqit users have completed their savings goal since the app was launched last year, with users already starting new goals.

Created by millennials for millennials, Plinqit is a free, simple and easy way to the first step toward financial freedom and path to personal financial success. Users simply transfer money from their checking account to Plinqit, set a goal, timeframe and withdrawal amount, and watch their Plinqit savings account grow. Typically, account fees are at or below the cost the bank is paying today for savings accounts, and well below Christmas and vacation club accounts.

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