BMO Alto
Last Updated: 6/20/2025
Note: Interest rates below are reported as APY, or Annual Percentage YieldQuick Views
Savings Account: 3.60% APY(Rank 67 out of 74 tracked HYSAs)
Minimum Deposit: $0 | Online Only
National Savings Interest Rate: 0.42% (as of 5/19/2025)
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
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 3.60%, unchanged from 30 days ago.
- No minimum deposit or balance requirement.
- No maintenance fees on the savings account.
- BBB rating of A+ with BBB Accreditation.
Considerations
- No physical branches available.
- Direct deposit is not required but may limit options.
- Online-only banking may not suit all customers.
- Limited account options with only one savings account.
Summary: BMO Alto offers a competitive savings account with a 3.60% APY and no fees or minimums, appealing for online savers. However, it lacks physical branches and has only one savings option. While the direct deposit requirement doesn't apply, it may restrict some users. The bank holds a strong BBB rating of A+ and is accredited, adding to its trustworthiness.
Savings Account
Savings Account Offered by BMO Alto
| Feature | Savings Account |
|---|---|
| APY | 3.60% (as of 6/20/2025) |
| APY Trend | Stable for the last month |
| 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 |
No deposit agreement summary available for this bank. | |
Calculate Savings for BMO Alto
All calculations are based on APY.
Savings Account (APY: 3.60%)
Deposit Frequency:
Total savings breakdown:
- Interest earned: $4 (3.85%)
- Total contributions: $0 (0.00%)
- Initial deposit: $100 (96.15%)
Your total balance
$104.00
Effective APY: 3.60% (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 | 3.60 % |
| Trend | Falling |
| Slope (bps/mo) | -10.9 |
| Rate Changes / Mo | 0.60 |
| Days Since Last Change | 68 |
| High (-5 m) | 4.10 % |
| Low (-5 m) | 3.60 % |
| Draw-down from High | -12.2 % |
| Volatility (CV) | 0.048 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 5 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 (-5 m)
- Highest APY in the last 151 days.
- Low (-5 m)
- Lowest APY in the last 151 days.
- Draw-down from High
- How far today sits below the 5-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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| Feature | BMO Alto | Select a bank... |
|---|---|---|
| Product | Savings Account | N/A |
| APY | 3.60% (as of 6/20/2025) | 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 |