BMO Alto: Savings Accounts & Rates

Savings rates updated: 9/26/2025

Mission statement: Banksparency aims to make BMO Alto's savings accounts transparent and comparable to those of other banks. Learn more about Banksparency.

Note: Interest rates below are reported as APY, or Annual Percentage Yield

We earn a commission if you open an account through some links on this page.

Savings Overview

Savings Account: 3.25% APY(Rank 78 out of 83 tracked HYSAs)

Minimum Deposit: $0 | Online Only

National Savings Interest Rate: 0.4% (as of 9/15/2025)

Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.

(Source: FDIC)

Bank Overview

Location: Chicago, Illinois

Founded: 1817

Affiliation: BMO Alto is a trade name used by BMO Bank N.A. All BMO Alto deposit products and services are provided by BMO

Access to Branches: None

Deposit Insurance: FDIC Cert # 16571

BBB Rating: A+ (BBB Accredited)

App Store Rating: N/A

Google Play Rating: N/A

Website: Visit BMO Alto

Our Take on BMO Alto

Highlights

Current APY is 3.25%, competitive for online-only accounts.
No maintenance fees, making it cost-effective.
No minimum deposit or balance requirements.
A+ BBB rating indicates strong trustworthiness.

Considerations

APY decreased from 3.50% in the last 30 days.
Online-only access may limit some users.
No physical branches for in-person banking.
No direct deposit requirement may deter some.

Summary: BMO Alto offers a high-yield savings account with a 3.25% APY, which is competitive but has decreased from 3.50% recently. The account has no maintenance fees or minimum balance requirements, making it accessible to many savers. However, it operates online only, lacking physical branches, which may not suit all customers. The bank has an A+ BBB rating, reflecting its reliability and trustworthiness.

Savings Account: In-Depth View

Savings Account Offered by BMO Alto

Feature	Savings Account
APY	3.25% (as of 9/26/2025)
APY Trend	-0.25% MoM/-0.35% QoQ
Minimum Deposit	$0
Minimum Balance for APY	$0
FDIC-insured	Yes
Online Only	Yes
Bundled Account	No
Direct Deposit Required	No
Compound Frequency	Daily
Maintenance Fee	$0
Eligibility	United States
Sponsored Link
No deposit agreement summary available for this bank.

Calculate Savings for BMO Alto

All calculations are based on APY.

Savings Product:

Savings Account (APY: 3.25%)

Initial Deposit:

Recurring Deposit Amount:

Deposit Frequency:

Duration:

Total savings breakdown:

Interest earned: $1,261.9 (8.27%)
Total contributions: $13,000 (85.18%)
Initial deposit: $1,000 (6.55%)

Your total balance

$15,261.90

Effective APY: 3.25% (based on your deposit and contributions)

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

BMO Alto Savings Rates Over Time

Historical APY Insights

Metric	Savings Account
Latest APY	3.25 %
Trend	Falling
Slope (bps/mo)	-7.1
Rate Changes / Mo	0.61
Days Since Last Change	7
High (-8 m)	4.10 %
Low (-8 m)	3.25 %
Draw-down from High	-20.7 %
Volatility (CV)	0.053

APY Insights Glossary

Latest APY: Most recent advertised annual-percentage yield.
Trend: Direction over the last 8 months (regression slope).
Slope (bps/mo): Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo: Typical number of APY moves per month.
Days Since Last Change: Recency of the latest APY adjustment.
High (-8 m): Highest APY in the last 247 days.
Low (-8 m): Lowest APY in the last 247 days.
Draw-down from High: How far today sits below the 8-month peak.
Volatility (CV): Coefficient of variation = stdev ÷ mean.

Why Track Savings-Account APYs?

See how quickly a bank reacts to Fed moves or competition.
Gauge “twitchiness” - frequent moves can annoy savers.
Spot if you're buying near a peak (draw-down) or riding a rise.
Slope (bps/mo) shows speed of change.
Volatility (CV) scales jumps by average level.

Compare BMO Alto's Savings Account

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Charles Schwab Bank - 0.15% APY
Chase Bank - 0.01% APY
Chime - 1.25-3.75% APY
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Citibank - 3.40% APY
Citizens Access™ - 3.50% APY
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FVCbank - 4.10% APY
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Marcus by Goldman Sachs - 3.65% APY
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My Banking Direct - 4.30% APY
MySavingsDirect - 3.75% APY
Neighbors Bank - 4.60% APY
Newtek Bank - 4.35% APY
OMB Bank - 1.00% APY
Openbank - 4.20% APY
Peak Bank - 4.35% APY
Pibank - 4.60% APY
PNC - 3.85% APY
Poppy Bank - 4.25% APY
Popular Direct - 4.10% APY
Presidential Bank - 4.00-4.50% APY
Prime Alliance Bank - 4.05% APY
Primis Bank - 3.85% APY
Quontic Bank - 3.75% APY
RBMAX - 3.90% APY
Rising Bank - 4.20% APY
ROGER - 3.87% APY
Salem Five Direct - 4.01% APY
Sallie Mae Bank - 3.90% APY
Santander Bank - 0.01% APY
SmartyPig - 3.90% APY
SoFi Bank - 4.50% APY
Synchrony Bank - 3.80% APY
TAB Bank - 3.80% APY
TD Bank - 0.05-3.00% APY
The State Exchange Bank - 4.11% APY
TIMBR - 4.40% APY
UFB Direct - 3.90-4.10% APY
Upgrade - 3.42% APY
Valley Direct - 4.10% APY
Varo Bank - 2.50-5.00% APY
Wells Fargo - 0.05-2.51% APY
Western Alliance Bank - 4.20% APY
Zynlo Bank - 4.35% APY

Feature	BMO Alto	Select a bank...
Product	Savings Account	N/A
APY	3.25% (as of 9/26/2025)	N/A
Bundled Account	No	N/A
FDIC-insured	Yes	N/A
Online Only	Yes	N/A
Compound Frequency	Daily	N/A
Minimum Deposit	$0	N/A
Minimum Balance for APY	$0	N/A
Maintenance Fee	$0	N/A
Direct Deposit Required	No	N/A