BMO Alto: Savings Accounts & Rates

Savings rates updated: 8/11/2025

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: 3.50% APY(Rank 69 out of 79 tracked HYSAs)

Minimum Deposit: $0 | Online Only

National Savings Interest Rate: 0.38% (as of 7/21/2025)

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 3.50%, competitive for high-yield savings.
No minimum deposit or balance requirements.
No maintenance fees, enhancing savings growth.
A+ BBB rating indicates high trustworthiness.

Considerations

Online-only banking may lack personal service.
No branches available for in-person transactions.
Direct deposit is not required, which may limit options for some.
Current APY has not changed in the last 30 days.

Summary: BMO Alto offers a high-yield savings account with a competitive APY of 3.50%, no fees, and no minimum balance requirements. However, it operates online only, which may not suit everyone. The bank holds an A+ BBB rating, reflecting its reliability. While the APY has remained stable over the past month, the lack of branches may deter savers who prefer in-person service.

Savings Account: In-Depth View

Savings Account Offered by BMO Alto

Feature	Savings Account
APY	3.50% (as of 8/11/2025)
APY Trend	-0.10% 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: 3.50%)

Initial Deposit:

Recurring Deposit Amount:

Deposit Frequency:

Duration:

Total savings breakdown:

Interest earned: $1,363.3 (8.87%)
Total contributions: $13,000 (84.62%)
Initial deposit: $1,000 (6.51%)

Your total balance

$15,363.30

Effective APY: 3.50% (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	3.50 %
Trend	Falling
Slope (bps/mo)	-8.2
Rate Changes / Mo	0.60
Days Since Last Change	33
High (-7 m)	4.10 %
Low (-7 m)	3.50 %
Draw-down from High	-14.6 %
Volatility (CV)	0.050

APY Insights Glossary

Latest APY: Most recent advertised annual-percentage yield.
Trend: Direction over the last 7 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 (-7 m): Highest APY in the last 201 days.
Low (-7 m): Lowest APY in the last 201 days.
Draw-down from High: How far today sits below the 7-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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Presidential Bank - 4.00-4.50% APY
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SoFi Bank - 3.80% APY
Synchrony Bank - 3.80% APY
TAB Bank - 4.15% APY
TD Bank - 0.05-3.00% APY
The State Exchange Bank - 1.02% APY
TIMBR - 4.40% APY
UFB Direct - 4.01-4.21% APY
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Wells Fargo - 0.05-2.51% APY
Western Alliance Bank - 4.30% APY
Zynlo Bank - 4.35% APY

Feature	BMO Alto	Select a bank...
Product	Savings Account	N/A
APY	3.50% (as of 8/11/2025)	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