BMO Alto vs. Chime
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | BMO AltoSavings Account Jan 7, 2026 | ChimeChime High-Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 3.25% | 1.00% - 3.50% |
Est. Earnings | $5,000+$163 $10,000+$325 $25,000+$813 | $5,000+$175 $10,000+$350 $25,000+$875 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo Minimums | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDirect Deposit ReqChecking Bundle |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
As of BMO Alto offers an APY of 3.25% for its Savings Account, with a minimum balance of $0, compared to Chime's 3.50% APY for its Chime High-Yield Savings Account, with a minimum balance of $0.01.
Chime pays $25 more than BMO Alto on a $10,000 balance after one year. BMO Alto pays $325, while Chime pays $350 - an APY advantage for Chime.
Why BMO Alto?
- ✓No checking account or direct deposit required
Why Chime?
- ✓Higher potential APY (3.50% vs 3.25%) on all balances
- ✓Higher rated iOS app (4.8 vs 0.0)
- ✓Higher rated Android app (4.8 vs 0.0)
— Key Feature Differences —
Better Returns at $10,000
ChimeChime's Chime High-Yield Savings Account earns more on smaller deposits (approx. $350 vs $325/yr).
Better Returns at $25,000
ChimeChime's Chime High-Yield Savings Account pulls ahead with larger amounts (approx. $875 vs $813/yr).
Best for Simplicity
BMO AltoBMO Alto's Savings Account offers 3.25% APY with no bundling, direct deposit requirement or caps.
Best for All-in-One Banking
ChimeChime's Chime High-Yield Savings Account pays a superior APY for customers who also open a checking account.
Best Mobile App Experience
ChimeChime offers an iOS app rated 4.8 (vs. 0.0) and Android app rated 4.8 (vs. 0.0)
Shared Benefits
Over a 1-year period, Chime's Chime High-Yield Savings Account pays $25 more interest on a $10,000 balance than BMO Alto's Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Chime's High-Yield Savings Account offers a competitive APY of 3.50%, making it the higher-yield option compared to BMO Alto's Savings Account, which provides an APY of 3.25%. Chime requires a qualifying direct deposit of $200 or more within the preceding 34 days, while BMO Alto has no such requirement. Both accounts are online-only and have no minimum deposit or maintenance fees. For customers interested in an all-in-one banking experience, Chime's account may be more appealing, especially if a checking account is also opened.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
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Top Market Contenders
BMO Alto vs. Chime Savings Calculator
You earn $25 more with Chime than BMO Alto on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
BMO Alto
Savings Account
Savings Breakdown
- Interest Earned+$325.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,325.00
Chime
Chime High-Yield Savings Account
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | BMO Alto | Chime |
|---|---|---|
| APY | 3.25% Verified: 1/7/2026 Stable (90d) | 3.50% Range: 1.00% - 3.50% Verified: 1/7/2026 ↘︎ 0.25%90d Change |
| Product Name | Savings Account | Chime High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | RequiredYou need to receive a qualifying direct deposit of $200 or more within the preceding 34 days |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS- Android- | iOS4.8 Android4.8 |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at BMO Alto Non-sponsored link to official site | Visit SiteVerify at Chime Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | BMO Alto | Chime |
|---|---|---|
| Savings Account | Chime High-Yield Savings Account | |
Current APY | 3.25% | 3.50% |
Trend | Stable | Stable |
Velocity (bps/mo) | -6.3 | 9.5 |
Days Since Change | 110 | 83 |
11-Month High | 4.10% | 3.75% |
11-Month Low | 3.25% | 2.00% |
Adjustments / Mo | 0.44 | 0.18 |
Volatility Score | 0.065 | 0.180 |
How to read these metrics(Click to expand)
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