PHOENIX — We know how tough it is to stretch your dollars lately.
While inflation may be bad for borrowers, it's pretty good news for some savers.
Banks are finally increasing some of their savings and checking account interest rates.
Fitness Bank takes a unique approach to savings.
At 3.5%, the online bank offers one of the highest interest rates for savings accounts.
You can get 3.6% if you add checking.
But you're going to have to work to get it.
It's based on the number of steps you take per day.
The more exercise, the better the rate.
Average 12,500 or more days in a month, that 3.6 percent is yours.
As steps go down, the rate drops.
Under 5,000, you're down to .5 percent.
You also need 10 debit card purchases and a $10 balance if you don't want fees.
Check out the offer and read the fine print.
Also, check banks for new customer bonuses.
TD Bank will give you $200 for a new checking account and a direct deposit of at least $500 in the first 60 days.
They give $300 if that deposit is at least $2,500.
Read more about TD Bank rules.
Chase Bank gives you $200 for new checking and one direct deposit in 90 days.
BMO Harris Bank will give you up to $350 for opening a checking account.
That max amount requires $7,500 in direct deposits in the first 90 days.
Lesser deposits mean lesser bonuses.
Check for any other requirements.
If you have extra cash and more time, government-backed Treasuries are paying more.
Interest on 2-year Treasury notes is more than 4% on the last check.
You lock it in when you buy, and interest is paid every 6 months.
There are also Treasury bonds and bills depending on your short- and long-term goals.
Read all about the risks before investing.
Do you have money-sharing or money-making ideas and want to share them with others?
Let me know: joe@abc15.com
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