Bmo Alto vs. Chime
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of BMO Alto vs. Chime
Key Metrics at a Glance
| Feature | BMO Alto | Chime |
|---|---|---|
| Top Savings APY | 3.25% Savings Account | 3.50% Chime Savings Account |
| Minimum to Open | $0 | $0 |
| Minimum Balance for Top APY | $0 | $0.01 |
| Note | Chime® is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. To open a savings account you must first open a checking account. To qualify for Chime+ with the 3.50% APY, you must have a Chime Checking account and receive a direct deposit of at least $200. Otherwise, the APY is 1.00%. |
BMO Alto
Strengths
- BMO Alto offers a competitive APY of 3.25%.
- No maintenance fees for the BMO Alto Savings Account.
- BMO Alto has an A+ BBB rating and is accredited.
Potential Drawbacks
- BMO Alto has no direct deposit option for higher APY.
- BMO Alto's APY has not changed in the last 30 days.
- BMO Alto has no branches.
Chime
Strengths
- Chime offers a higher APY of 3.50% with direct deposit.
- Chime has a high App Store rating of 4.8.
- Chime has no maintenance fees for its savings account.
Potential Drawbacks
- Chime requires a direct deposit to earn the higher APY.
- Chime's APY decreased from 3.75% in the last 30 days.
- Chime requires a minimum balance of $0.01.
Summary: BMO Alto provides a stable APY of 3.25% with no direct deposit requirement, while Chime offers a higher APY of 3.50% but requires a qualifying direct deposit. Both banks have an A+ BBB rating, but Chime's APY has recently decreased. Additionally, Chime has a strong App Store rating of 4.8, whereas BMO Alto has no branches.
→ As of November 12, 2025 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 Savings Account, with a minimum balance of $0.01.
→ Chime yields $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.
Calculate Savings Growth for BMO Alto vs Chime
All calculations are based on APY.
BMO Alto - Savings Account
Top APY: 3.25%
Total savings breakdown:
- Interest earned: $1,955.5 (9.80%)
- Total contributions: $13,000 (65.14%)
- Initial deposit: $5,000 (25.06%)
Your total balance
$19,955.50
Effective APY: 3.25% (based on your deposit and contributions)
Total balance: $19,955.5
Earnings: $1,955.5
Bank OverviewChime - Chime Savings Account
Top APY: 3.50%
Total savings breakdown:
- Interest earned: $2,114.1 (10.51%)
- Total contributions: $13,000 (64.63%)
- Initial deposit: $5,000 (24.86%)
Your total balance
$20,114.10
Effective APY: 3.50% (based on your deposit and contributions)
Total balance: $20,114.1
Earnings: $2,114.1
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, BMO Alto's total earnings would be $158.6 lower than Chime's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare BMO Alto's vs Chime's Savings Accounts
| BMO Alto | Chime | ||
|---|---|---|---|
| Product | Savings Account | vs | Chime Savings Account |
| APY | 3.25% (as of 11/12/2025) | 1.00% - 3.50% (as of 11/12/2025) | |
| Bundled Account | No | Yes | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0.01 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | Yes. You need to receive a qualifying direct deposit of $200 or more within the preceding 34 days | |
| Note | Chime® is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. To open a savings account you must first open a checking account. To qualify for Chime+ with the 3.50% APY, you must have a Chime Checking account and receive a direct deposit of at least $200. Otherwise, the APY is 1.00%. | ||
| App Store Rating | No | 4.8/5 | |
| Google Play Rating | No | 4.7/5 | |
| BBB Rating | A+ | A+ |
Comparative Historical APY Insights (Last 9 Months)
| BMO Alto | Chime | ||
|---|---|---|---|
| Product | Savings Account | vs | Chime Savings Account |
| Latest APY | 3.25 % | 3.50 % | |
| Trend | Falling | Rising | |
| Slope (bps/mo) | -7.1 | 15.7 | |
| Rate Changes / Mo | 0.52 | 0.21 | |
| Days Since Last Change | 55 | 28 | |
| High (-9 m) | 4.10 % | 3.75 % | |
| Low (-9 m) | 3.25 % | 2.00 % | |
| Draw-down from High | -20.7 % | -6.7 % | |
| Volatility (CV) | 0.061 | 0.206 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 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 (-9 m)
- Highest APY in the last 287 days.
- Low (-9 m)
- Lowest APY in the last 287 days.
- Draw-down from High
- How far today sits below the 9-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.