Savings account
BMO
BMO Savings Amplifier Account
2.8/5 our rating
Opens BMO's website
- Bonus rate
- +5%
- extra, for 4 months
- Regular rate
- 0.5%
- Interest in a year
- $219
- on $10,000, estimated
- Monthly fee
- $0
Overview
BMO's high interest savings account. New savers get a promotional bonus rate for their first 120 days, then the regular rate, which is low. Good for a few months of strong interest if you already bank with BMO. For the long run, online banks pay more.
Interest rates
Bonus on top of the regular rate
for 4 months
(5.00% for 120 days)
+5%
All Balances
0.5%
What you could earn in a year
$219
in interest on $10,000 over 12 months
Includes $168 from the promotional rate.
An estimate: it assumes today's rates hold for the year, interest compounds monthly, and any fee that can be waived is waived.
Welcome offer
Get a 5.00% promo interest rate** when you open a chequing and a Savings Amplifier Account.
Fees
Account fees
Monthly fee
$0
eStatement
Included
Highlights
Get a promotional interest rate: You’ll get a 5.00% interest rate** guaranteed for up to 120 days† when you add a Savings Amplifier Account to a new Performance or Premium Chequing Account.
Unlimited no-fee transfers: Make no-fee transfers to your other BMO accounts any time, including mobile and online transfer, and ATM.*99
Earn money when you save: Benefit from a competitive interest rate every time you save money.*12
No monthly fee or minimum deposit: Save money when you bank with no monthly fee and no minimum balance required.
Legal
**Terms and conditions apply. Learn more here.
†We guarantee up to a 5.00% promotional interest rate on balances deposited to a Savings Amplifier Account for up to 120 days from the account opening start date. This is an estimated value of $164.38 in total interest. If the Savings Amplifier Account is not funded, no interest will be earned. Promotional interest will be earned on the total balance within the Savings Amplifier Account. To qualify for the Promotional Rate, you must 1. Open a new Primary Chequing Account with the Blue Rewards Plan, Performance Plan, Premium Plan, Practical Plan, or Plus Plan 2. Open a new Savings Amplifier Account 3. Make a deposit(s) into the Savings Amplifier Account. Interest is calculated on the daily account closing balance, up to a balance limit of $1,000,000, and paid monthly on the last business day of the month. For additional details please refer to Terms and Conditions.
*12Interest is calculated on the daily account closing balance and paid monthly on the last business day of the month. Interest is paid in the same currency as the account. Interest rates are calculated on a per annum basis. Interest rates and balance tiers are subject to change without advance notice. Interest rates are available online at bmo.com/rates, at all BMO branches where deposit accounts are kept and by calling 1-877-225-5266.
*99 There is no fee charged for transfers from your Saving Amplifier Account to your other BMO account through BMO Mobile and Online Banking, at a BMO ATM, or when using the BMO Telephone Banking interactive voice response (or self-serve). A fee applies for each pre-authorized debit, cash withdrawal, and transfers from your Savings Amplifier Account to your other BMO account when performed at a branch or with a Customer Contact Centre associate. Refer to Agreements, Bank Plans and Fees for Everyday Banking.