Bmo Alto vs. Openbank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of BMO Alto vs. Openbank
Key Metrics at a Glance
| Feature | BMO Alto | Openbank |
|---|---|---|
| Top Savings APY | 3.25% Savings Account | 4.20% High-Yield Savings Account |
| Minimum to Open | $0 | $500 |
| Minimum Balance for Top APY | $0 | $0 |
BMO Alto
Strengths
- BMO Alto has an A+ BBB rating and is BBB Accredited.
- No maintenance fees for the Savings Account.
Potential Drawbacks
- BMO Alto offers a lower APY of 3.25% compared to Openbank.
- No branches available for BMO Alto.
Openbank
Strengths
- Openbank offers a higher APY of 4.20% for its High-Yield Savings Account.
- No minimum balance requirement for Openbank.
Potential Drawbacks
- Openbank is not rated by the BBB and is not BBB Accredited.
- Openbank requires a minimum deposit of $500 to open an account.
→ 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 Openbank's 4.20% APY for its High-Yield Savings Account, with a minimum balance of $0.
→ Openbank yields $95 more than BMO Alto on a $10,000 balance after one year. BMO Alto pays $325, while Openbank pays $420 - an APY advantage for Openbank.
Calculate Savings Growth for BMO Alto vs Openbank
BMO Alto - Savings Account
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
Total balance: $19,955.5
Earnings: $1,955.5
Bank OverviewOpenbank - High-Yield Savings Account
Total savings breakdown:
- Interest earned: $2,564.3 (12.47%)
- Total contributions: $13,000 (63.22%)
- Initial deposit: $5,000 (24.31%)
Your total balance
$20,564.30
Total balance: $20,564.3
Earnings: $2,564.3
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, BMO Alto's total earnings would be $608.8 lower than Openbank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare BMO Alto's vs Openbank's Savings Accounts
| BMO Alto | Openbank | ||
|---|---|---|---|
| Product | Savings Account | vs | High-Yield Savings Account |
| APY | 3.25% (as of 11/12/2025) | 4.20% (as of 11/12/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Monthly | |
| Minimum Deposit | $0 | $500 | |
| Minimum Balance for APY | $0 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| App Store Rating | No | 3.2/5 | |
| Google Play Rating | No | 3.2/5 | |
| BBB Rating | A+ | Not Rated |
Comparative Historical APY Insights (Last 9 Months)
| BMO Alto | Openbank | ||
|---|---|---|---|
| Product | Savings Account | vs | High-Yield Savings Account |
| Latest APY | 3.25 % | 4.20 % | |
| Trend | Falling | Sideways | |
| Slope (bps/mo) | -6.1 | -4.0 | |
| Rate Changes / Mo | 0.46 | 0.35 | |
| Days Since Last Change | 55 | 114 | |
| High (-9 m) | 4.00 % | 4.75 % | |
| Low (-9 m) | 3.25 % | 4.20 % | |
| Draw-down from High | -18.8 % | -11.6 % | |
| Volatility (CV) | 0.049 | 0.028 |
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 260 days.
- Low (-9 m)
- Lowest APY in the last 260 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.