Bmo high interest savings account

This is precisely what high-interest savings accounts are designed to do. The main advantage is right in the name — a high rate of interest earned on the money in your savings account. That means you get more money just for keeping your money in there!

Want to open a BMO savings account? Why not compare your options? Find the highest-earning savings accounts in Canada from multiple banks in seconds. Over 1M. Trusted partner.

Bmo high interest savings account

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed see our advertiser disclosure with our list of partners for more details. However, our opinions are our own. See how we rate banking products to write unbiased product reviews. It has a traditional account with rates similar to what other brick-and-mortar banks offer, and an online-only high-yield savings account that is offered through BMO Alto. While both offer perks like low account minimums and no monthly fees, they differ in terms of interest rates and availability. While the interest rate is low compared to a high-yield savings account, you get access to local branches and over 40, fee-free ATMs across the United States, and you can make mobile check deposits. BMO is a great choice if you want a free savings or checking account. It also offers impressive checking account bonuses. But you'll want to look elsewhere to earn high interest rates. BMO Alto, the bank's high-yield savings option, allows you to earn 5. BMO Alto savings and CDs are available nationwide to those 18 and older, but bank branches aren't available — so you can't make deposits or withdrawals in person. There's no way to make mobile check deposits into your account, either. To access your savings, you'll have to link your BMO Alto savings account to an external checking account and transfer funds. No fees or minimum balance requirements.

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Reach your financial goals faster with no monthly maintenance fee. Whether you bank via mobile footnote 3 3 , online or telephone, all your banking methods are convenient and secure. Our easy-to-use BMO Digital Banking tools footnote 3 3 help you manage your finances from anywhere life takes you. Enjoy peace of mind knowing your money is safe and secure with FDIC deposit insurance. But there are some less-common fees we want you to know about.

Bmo high interest savings account

Watch your savings grow with an account that offers competitive rates and terms that best fit your goals and lifestyle. Make real financial progress knowing that your money is insured by the FDIC footnote 1 1. Easily manage your money online with a variety of resources at your fingertips. Get our best rate with access footnote 2 2 to your money! You may get higher interest rates when you also have a BMO Relationship Checking account footnote 4 4. Get easy access footnote 2 2 to your money with competitive rates. Our security features ensure that your banking experience is convenient and safe.

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No monthly or annual fees. Learn more On BMO's site. Cons con icon Two crossed lines that form an 'X'. Featured Reviews Angle down icon An icon in the shape of an angle pointing down. Interest rate. Interest on this account is taxable. Find the highest-earning savings accounts in Canada from multiple banks in seconds. Prior to combining and consolidating her knowledge of law and business, she spent one year finishing 1L courses at Suffolk University Law School to further her legal knowledge. There's no way to make mobile check deposits into your account, either. Perks No fees or minimum balance requirements.

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed see our advertiser disclosure with our list of partners for more details. However, our opinions are our own.

Share Facebook Icon The letter F. We assign each category a score between 0 and 5, then average the scores to reach a rating for each savings account. Oaken Financial Savings Account. Ratehub Staff. The Savings Builder Account features a relatively competitive interest rate. Bank savings account rates are low overall, because the bank doesn't offer a high-yield savings account. Navigation skipped Personal Bank Accounts Savings Accounts What are the advantages of using a high-interest savings account? Canadians have access to some great tax-sheltered savings plans, savings accounts and investment products. High-interest savings accounts offer more interest on your balance than regular savings accounts — how much more will depend on the combination of features. Helpful tools. Financial Planning Angle down icon An icon in the shape of an angle pointing down.