BMO Alto

Last Updated: 7/30/2025

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

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Quick Views

Savings Account: 3.50% APY(Rank 68 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 of 3.50%, slightly down from 3.60% 30 days ago.
No minimum deposit or balance requirements.
No maintenance fees for the savings account.
BBB rating of A+ with BBB Accreditation.

Considerations

No physical branches available.
Direct deposit not required, but may limit some users.
Online-only banking may not suit everyone.
Limited account options compared to other banks.

Summary: BMO Alto offers a competitive APY of 3.50% for its online-only savings account, with no minimum deposit or maintenance fees. The bank has an A+ BBB rating, indicating strong trustworthiness. However, it lacks physical branches and offers limited account options, which may deter some savers. The absence of a direct deposit requirement could also be a drawback for users who prefer traditional banking methods.

Savings Account

Savings Account Offered by BMO Alto

Feature	Savings Account
APY	3.50% (as of 7/30/2025)
APY Trend	-0.10% MoM
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)	-8.6
Rate Changes / Mo	0.63
Days Since Last Change	21
High (-6 m)	4.10 %
Low (-6 m)	3.50 %
Draw-down from High	-14.6 %
Volatility (CV)	0.049

APY Insights Glossary

Latest APY: Most recent advertised annual-percentage yield.
Trend: Direction over the last 6 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 (-6 m): Highest APY in the last 189 days.
Low (-6 m): Lowest APY in the last 189 days.
Draw-down from High: How far today sits below the 6-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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SoFi Bank - 3.80% APY
Synchrony Bank - 3.80% APY
TAB Bank - 4.15% APY
TD Bank - 0.05-3.00% APY
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UFB Direct - 4.01-4.21% APY
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Varo Bank - 2.50-5.00% APY
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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 7/30/2025)	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

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