BMO Alto vs. Charles Schwab Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
BMO Alto
Savings Account
3.25%APYDec 10, 2025FDIC InsuredNo MinimumsShow Fine Print & Trends Hide Details
BMO Alto
Savings Account
Charles Schwab Bank
Schwab Bank Investor Savings™
0.15%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppIn-Person AccessShow Fine Print & Trends Hide Details
Charles Schwab Bank
Schwab Bank Investor Savings™
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
BMO Alto vs. Charles Schwab Bank Savings Calculator
BMO Alto earns $1,869.4 more than Charles Schwab Bank.
BMO Alto
Savings Account
Savings Breakdown
- Interest Earned+$1,955.50(9.8%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$19,955.50
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$86.10(0.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,086.10
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing BMO Alto vs. Charles Schwab Bank
Why BMO Alto?
- ✓Higher potential APY (3.25% vs 0.15%) on all balances
- ✓No checking account or direct deposit required
Why Charles Schwab Bank?
- ✓Higher rated iOS app (4.8 vs 0.0)
— Key Feature Differences —
Better Returns at $10,000
BMO AltoBMO Alto's Savings Account earns more on smaller deposits (approx. $325 vs $15/yr).
Better Returns at $25,000
BMO AltoBMO Alto's Savings Account pulls ahead with larger amounts (approx. $813 vs $38/yr).
Best for Simplicity
BMO AltoBMO Alto's Savings Account offers 3.25% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, BMO Alto's Savings Account pays $310 more interest on a $10,000 balance than Charles Schwab Bank's Schwab Bank Investor Savings™.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary
BMO Alto offers a competitive Savings Account with a notable APY of 3.25%, making it a strong choice for savers looking for higher returns without any direct deposit requirements or maintenance fees. This account is online-only and allows for deposits starting at $0. In contrast, Charles Schwab Bank's Schwab Bank Investor Savings™ provides a significantly lower APY of 0.15%, also with no minimum deposit requirement, but it does not match the returns of BMO Alto. Therefore, BMO Alto stands out as the better option for those seeking higher interest on their savings.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Stop Losing Interest
See who beats both BMO Alto and Charles Schwab Bank.
| Feature | BMO Alto | Charles Schwab Bank |
|---|---|---|
| APY | 3.25% Verified: 12/10/2025 ↘︎ 0.25%90d Change | 0.15% Verified: 12/10/2025 Stable (90d) |
| Product Name | Savings Account | Schwab Bank Investor Savings™ |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS- Android- | iOS4.8 Android2.9 |
| BBB Rating | A+ | A+ |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | BMO Alto | Charles Schwab Bank |
|---|---|---|
| Savings Account | Schwab Bank Investor Savings™ | |
Current APY | 3.25% | 0.15% |
Trend | Stable | Stable |
Velocity (bps/mo) | -6.8 | -0.0 |
Days Since Change | 82 | 314 |
10-Month High | 4.10% | 0.15% |
10-Month Low | 3.25% | 0.15% |
Adjustments / Mo | 0.48 | 0.00 |
Volatility Score | 0.064 | 0.000 |
How to read these metrics(Click to expand)
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