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 3.50% 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 $35 more than BMO Alto annually ($350 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 Feb 21, 2026 | Synchrony BankHigh Yield Savings Feb 21, 2026 |
|---|---|---|
| APY | 3.15% | 3.50% |
Est. Earnings | $5,000+$158 $10,000+$315 $25,000+$788 | $5,000+$175 $10,000+$350 $25,000+$875 |
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 4.15% APY.
Comparison Analysis
Comparing BMO Alto vs. Synchrony Bank
Executive Summary
BMO Alto offers a competitive APY of 3.15% on its online-only Savings Account, which requires no minimum deposit or maintenance fees. However, Synchrony Bank's High Yield Savings account surpasses this with an APY of 3.50%, also featuring no minimum deposit or maintenance fees, making it a strong choice for savers. Additionally, Synchrony Bank is noted for its simplicity and superior mobile app experience, enhancing user convenience. Both accounts do not require direct deposit, but Synchrony Bank's higher yield positions it as the preferred option for those seeking better returns.
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 (3.50% 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. $350 vs $315/yr).
Better Returns at $25,000
Synchrony BankSynchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $875 vs $788/yr).
Best for Simplicity
Synchrony BankSynchrony Bank's High Yield Savings offers 3.50% 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 $35 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 $35 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+$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.
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: 2/21/2026 ↘︎ 0.10%90d Change | 3.50% Verified: 2/21/2026 ↘︎ 0.15%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% | 3.50% |
Trend | Stable | Stable |
Velocity (bps/mo) | -5.1 | -3.9 |
Days Since Change | 4 | 25 |
12-Month High | 4.00% | 4.00% |
12-Month Low | 3.15% | 3.50% |
Adjustments / Mo | 0.41 | 0.25 |
Volatility Score | 0.058 | 0.040 |
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 | 3.20% | $0 |
| BMO Alto vs American Express | 3.30% | $0 |
| BMO Alto vs Axos Bank | 4.21% | $0 |
| BMO Alto vs Bank of America | 0.01% | $100 |
| BMO Alto vs Barclays | 3.85% | $0 |
| BMO Alto vs Capital One | 3.30% | $0 |
| BMO Alto vs Chase Bank | 0.01% | $0 |
| BMO Alto vs Chime | 3.00% | $0 |
| BMO Alto vs CIT Bank | 3.75% | $100 |
| BMO Alto vs Citibank | 3.20% | $0 |
| BMO Alto vs Discover Bank | 3.30% | $0 |
| BMO Alto vs EverBank | 3.90% | $0 |
| BMO Alto vs Marcus by Goldman Sachs | 3.65% | $0 |
| BMO Alto vs Newtek Bank | 4.20% | $0.01 |
| BMO Alto vs Openbank | 4.09% | $500 |
| BMO Alto vs Pibank | 4.60% | $0 |
| BMO Alto vs SoFi Bank | 4.00% | $0 |
| BMO Alto vs Varo Bank | 5.00% | $0 |
| BMO Alto vs Wealthfront | 3.95% | $0 |
| BMO Alto vs Wells Fargo | 0.05% | $25 |