BMO Alto vs. Synchrony Bank
Comparing BMO Alto and Synchrony Bank for high-yield savings: BMO Alto's Savings Account pays 3.15% APY while Synchrony Bank's High Yield Savings pays 3.40% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Synchrony Bank pays $25 more than BMO Alto annually ($340 vs $315).
Choose Synchrony Bank if getting the best rate matters most, you're an iPhone user (no iOS app for BMO Alto), or you're an Android user (no Android app for BMO Alto).
| Metric | BMO AltoSavings Account May 23, 2026 | Synchrony BankHigh Yield Savings May 23, 2026 |
|---|---|---|
| APY | 3.15% | 3.40% |
Est. Earnings | $5,000+$158 $10,000+$315 $25,000+$788 | $5,000+$170 $10,000+$340 $25,000+$850 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.10% APY.
Comparison Analysis
Comparing BMO Alto vs. Synchrony Bank
Executive Summary
BMO Alto offers a competitive Savings Account with an APY of 3.15%, featuring no minimum deposit or balance requirements and no maintenance fees, making it accessible for all savers. However, Synchrony Bank stands out with its High Yield Savings account, which provides a higher APY of 3.40%. This account also has no minimum deposit, balance requirements, or maintenance fees, and is noted for its simplicity and better returns at various deposit levels. Both accounts are online-only and do not require direct deposit, but Synchrony Bank's higher yield makes it the preferable choice for savers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why BMO Alto?
No distinct advantages found vs Synchrony Bank.
Why Synchrony Bank?
- ✓Higher potential APY (3.40% vs 3.15%) on all balances
- ✓Higher rated iOS app (4.8 vs 0.0)
- ✓Higher rated Android app (4.5 vs 0.0)
— Key Feature Differences —
Better Returns at $10,000
Synchrony BankSynchrony Bank's High Yield Savings earns more on smaller deposits (approx. $340 vs $315/yr).
Better Returns at $25,000
Synchrony BankSynchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $850 vs $788/yr).
Best for Simplicity
Synchrony BankSynchrony Bank's High Yield Savings offers 3.40% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Synchrony BankSynchrony Bank offers an iOS app rated 4.8 (vs. 0.0) and Android app rated 4.5 (vs. 0.0)
Shared Benefits
Over a 1-year period, Synchrony Bank's High Yield Savings 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
BMO Alto vs. Synchrony Bank Savings Calculator
You earn $25 more with Synchrony Bank 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+$315.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,315.00
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$340.00(3.3%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,340.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $314 per year in interest.
Both BMO Alto and Synchrony Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | BMO Alto | Synchrony Bank |
|---|---|---|
| APY | 3.15% Verified: 5/23/2026 Stable (90d) | 3.40% Verified: 5/23/2026 ↘︎ 0.10%90d Change |
| Product Name | Savings Account | High Yield Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | N/A |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS- Android- | |
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | Not Rated |
| Next Steps | Visit SiteVerify at BMO Alto Non-sponsored link to official site | Visit SiteVerify at Synchrony Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | BMO Alto | Synchrony Bank |
|---|---|---|
| Savings Account | High Yield Savings | |
Current APY | 3.15% | 3.40% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.1 | -4.2 |
Days Since Change | 95 | 32 |
12-Month High | 3.60% | 4.00% |
12-Month Low | 3.15% | 3.40% |
Adjustments / Mo | 0.25 | 0.33 |
Volatility Score | 0.046 | 0.042 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare BMO Alto's APY of 3.15% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| BMO Alto vs Ally Bank | 3.10% | $0 |
| BMO Alto vs American Express | 3.10% | $0 |
| BMO Alto vs Axos Bank | 4.21% | $0 |
| BMO Alto vs Barclays | 3.75% | $0 |
| BMO Alto vs Capital One | 3.10% | $0 |
| BMO Alto vs Chime | 3.00% | $0 |
| BMO Alto vs CIT Bank | 3.75% | $100 |
| BMO Alto vs Discover Bank | 3.30% | $0 |
| BMO Alto vs EverBank | 3.90% | $0 |
| BMO Alto vs Marcus by Goldman Sachs | 3.50% | $0 |
| BMO Alto vs Newtek Bank | 4.20% | $0.01 |
| BMO Alto vs Openbank | 4.00% | $500 |
| BMO Alto vs Pibank | 4.40% | $0 |
| BMO Alto vs SoFi Bank | 4.00% | $0 |
| BMO Alto vs Varo Bank | 5.00% | $0 |
| BMO Alto vs Wealthfront | 4.20% | $0 |