BMO Alto: Savings Account & Rates
Mission: Banksparency aims to make BMO Alto's savings account transparent and comparable to the market.
Savings Overview
Savings Account
| Min. Deposit | $0 |
| Min. Balance | $0 |
| Maintenance Fee | $0 |
Market Reality Check
This bank offers rates below the current top tier. The best rates we track are currently above 4.21% APY.
Bank Overview
- HQ LocationChicago, Illinois
- Founded1817
- AffiliationBMO Alto is a trade name used by BMO Bank N.A. All BMO Alto deposit products and services are provided by BMO
- Ratings & Trust
- Zelle® SupportNo SupportStandard ACH or Wire transfers only.
- Deposit InsuranceFDIC Insured(Cert: 16571)
Our Take on BMO Alto
The Good
- Decent APY of 3.25%
- No minimum deposit or balance requirements
- No monthly maintenance fees
Considerations
- No physical branch access (online only)
- Yield is below current market leaders
BMO Alto offers a competitive savings account with an APY of 3.25%. This account has no minimum deposit or balance requirements and does not charge monthly maintenance fees. Additionally, there are no direct deposit requirements, making it accessible for various customers. However, it is important to note that this account is only available online, with no physical branch access, and its yield is below that of current market leaders.
Top Market Contenders
Savings Account: In-Depth View
Savings Account Offered by BMO Alto
| Feature | Savings Account |
|---|---|
APY | 3.25%Verified: 1/7/2026 |
APY Trend | Very StableNo rate changes in last 90 days |
Min. Deposit | $0 |
Min. Balance | $0 |
Monthly Fee | $0 |
Direct Deposit | None |
Checking Bundle | No |
Branch Access | None |
Compounding | Daily |
FDIC Insured | Yes |
Eligibility | United States |
| Next Steps | - |
Calculate Savings for BMO Alto
Savings Breakdown
- Interest Earned+$1,261.90(8.3%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,261.90
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
Last 11 Months| Metric | Savings Account |
|---|---|
Latest APY | 3.25% |
Trend | Falling |
Slope (bps/mo) | -6.6 |
Rate Changes / Mo | 0.43 |
Days Since Last Change | 110 |
High (-11m) | 4.10% |
Low (-11m) | 3.25% |
Draw-down | -20.7% |
Volatility (CV) | 0.070 |
How to read these metrics▼
Trends & Velocity
- Trend
- The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
- Slope (bps/mo)
- Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
- Rate Changes / Mo
- "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.
Risk & Range
- High/Low
- The absolute ceiling and floor of the rate during the 350-day window.
- Volatility Score
- Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
- Days Since Change
- If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.
Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.
Compare with BMO Alto
| Feature | Current View BMO Alto | Empty Slot |
|---|---|---|
| Product | Savings Account | - |
APY | 3.25%Verified: 1/7/2026 | - |
APY Trend | Very StableNo rate changes in last 90 days | - |
| Min. Deposit | $0 | - |
| Monthly Fee | $0 | - |
Direct Deposit | No | - |
Checking Bundle | No | - |
| Branch Access | None | - |
| Eligibility | United States | - |
Compounding | Daily | - |
FDIC Insured | Yes | - |
| Next Steps | - | - |
Bank-to-Bank Comparisons
Compare BMO Alto's APY of 3.25% with other banks
Alternatives to BMO Alto
Banks with Higher/Similar Savings APY
For a top list of the highest savings rates, see all HYSA top rates
High Plains Bank
High Yield Savings Account: 3.82% APY
Minimum Deposit: $25
First Foundation Bank
Online Savings: 3.75% APY
Minimum Deposit: $1,000
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Openbank
High-Yield Savings Account: 4.20% APY
Minimum Deposit: $500
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Carver Bank
High Yield Savings: 4.00% APY
Minimum Deposit: $5,000
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MutualOne Bank
Mo Premium Savings: 4.07% APY
Minimum Deposit: $20,000
Online Savings: 0.40% APY
Minimum Deposit: $5,000
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U.S. Bank
Smartly Savings: 3.00% APY
Bundled Savings & Checking Account
Minimum Deposit: $25
Elevault
High Yield Savings Account: 3.82% APY
Minimum Deposit: $0
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Colorado Federal Savings Bank
High Yield Savings: 4.00% APY
Minimum Deposit: $1
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Premier Savings: 4.05% APY
Minimum Deposit: $50,000
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Affirm
Affirm Money Account: 3.20% APY
Minimum Deposit: $0
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TD Bank
TD Signature Savings: 2.60% APY
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Minimum Deposit: $0
Pibank
Pibank Savings: 4.60% APY
Minimum Deposit: $0
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Marcus by Goldman Sachs
Marcus Online Savings Account: 3.65% APY
Minimum Deposit: $0
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