BMO Alto vs. Synchrony Bank
BMO Alto's Savings Account advertises 3.00% APY while Synchrony Bank's High Yield Savings advertises 3.55% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
On a $10,000 balance, Synchrony Bank's High Yield Savings earns about $55 more in a year than BMO Alto's Savings Account: $355 against $300.
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 Sep 30, 2026 | Synchrony BankHigh Yield Savings Oct 5, 2026 |
|---|---|---|
| APY | 3.00% | 3.55% |
Earns in a year | $5,000+$150 $10,000+$300 $25,000+$750 | $5,000+$177 $10,000+$355 $25,000+$887 |
Min. Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsDaily Compounding | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often |
Market Reality Check
Both of these institutions offer rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.36% APY.
Comparison Analysis
Comparing BMO Alto vs. Synchrony Bank
Executive Summary
BMO Alto last changed its rate on June 10, 2026, down 15 basis points. Synchrony Bank last changed its rate on September 29, 2026, up 25 basis points. BMO Alto paid 1.61% on average on savings and money market deposits. Its savings account offers 3.00%. Synchrony Bank paid 3.35% on average on savings and money market deposits. Its high yield savings account offers 3.55%. Synchrony Bank has led at the $10,000 balance since at least January 23, 2026, with a gap of 55 basis points.
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 checking account or direct deposit required
Why Synchrony Bank?
- Higher potential APY (3.55% vs 3.00%) on all balances
- Higher rated iOS app (4.8 vs 0.0)
- Higher rated Android app (4.6 vs 0.0)
Key Feature Differences
Better Returns at $10,000
Synchrony BankSynchrony Bank's High Yield Savings earns more on smaller deposits (approx. $355 vs $300/yr).
Better Returns at $25,000
Synchrony BankSynchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $887 vs $750/yr).
Better Mobile App Experience
Synchrony BankSynchrony Bank offers an iOS app rated 4.8 (vs. 0.0) and Android app rated 4.6 (vs. 0.0)
Shared Benefits
Over a 1-year period, Synchrony Bank's High Yield Savings pays $55 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 $55 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+$300.00(2.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,300.00
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$355.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,355.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still at a large branch bank?
A typical branch-bank savings rate is 0.05% APY. On a $10,000 balance, the gap to these two banks is at least $295 a year in interest.
Both BMO Alto and Synchrony Bank advertise far more than that typical branch-bank rate.
| Feature | BMO Alto | Synchrony Bank |
|---|---|---|
| APY | 3.00% Observed: 9/30/2026 Stable over 90 days | 3.55% Observed: 10/5/2026 0.25%90-day 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 |
| Branches | None | None |
| Physical Branches | Not reported | 2 (FL, UT) |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS- Android- | |
| FDIC or NCUA 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 |
What each bank pays on deposits
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
BMO Alto
The two figures answer different questions, so they sit side by side and are not combined.
In Q2 2026, BMO Bank paid a higher average rate on savings and money market deposits than 56% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
Each figure is that bank's own charter-level average across its whole deposit book, so the two are shown one after the other and are not a ranking.
Synchrony Bank
The two figures answer different questions, so they sit side by side and are not combined.
In Q2 2026, Synchrony Bank paid a higher average rate on savings and money market deposits than 97% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
CD rates, term by term
BMO Alto lists CDs on Banksparency at 6, 12, 24, 36, 48 and 60 months. Synchrony Bank lists CDs at 3, 6, 9, 11, 12, 13, 14, 15, 16, 18, 19, 24, 36, 48 and 60 months. Each row below is one term, with the best rate each bank advertises for it.
| Term | BMO Alto APY | Synchrony Bank APY | FDIC average (Sep 2026) |
|---|---|---|---|
| 12 months | 3.00% APYNo minimum | 4.20% APYNo minimum | 1.73% |
| 3 months | Not listed here | 0.25% APYNo minimum | 1.13% |
| 6 months | 2.50% APYNo minimum | 4.10% APYNo minimum | 1.41% |
| 9 months | Not listed here | 4.15% APYNo minimum | |
| 11 months | Not listed here | 0.25% APYNo minimum | 1.73%12-month average |
| 13 months | Not listed here | 4.40% APYNo minimum | 1.73%12-month average |
| 14 months | Not listed here | 4.30% APYNo minimum | |
| 15 months | Not listed here | 4.30% APYNo minimum | |
| 16 months | Not listed here | 4.30% APYNo minimum | |
| 18 months | Not listed here | 4.35% APYNo minimum | |
| 19 months | Not listed here | 4.35% APYNo minimum | |
| 24 months | 3.10% APYNo minimum | 4.35% APYNo minimum | 1.61% |
| 36 months | 3.15% APYNo minimum | 4.40% APYNo minimum | 1.36% |
| 48 months | 3.25% APYNo minimum | 4.40% APYNo minimum | 1.28% |
| 60 months | 3.35% APYNo minimum | 4.50% APYNo minimum | 1.38% |
Money market accounts
A money market account holds a savings balance and adds check or debit card access. The figure each bank advertises is its best APY across every active tier, so the sentence under it says which balance earns that rate.
BMO Alto
No money market account listed here.
Synchrony Bank
Money Market Account
2.00% APY
No minimum. As observed Oct 5, 2026.
The FDIC national money market average was 0.63% in Sep 2026.
Compare Savings Rates Over Time
Historical Performance
| Metric | BMO Alto | Synchrony Bank |
|---|---|---|
| Savings Account | High Yield Savings | |
Current APY | 3.00% | 3.55% |
Trend | Stable | Stable |
Speed of change | -0.03 | 0.01 |
Days Since Change | 117 | 6 |
8-Month High | 3.25% | 3.55% |
8-Month Low | 3.00% | 3.30% |
Changes per month | 0.24 | 0.35 |
Steadiness | 0.034 | 0.031 |
How to read these metrics(Click to expand)
Trends and speed
- Trend: The general direction of the rate over the analyzed period. Useful for seeing whether a bank is raising its rate or letting it slip.
- Speed of change: How fast the rate moves. A high positive number means they raise rates quickly. A reading of 0.10 is a tenth of a percentage point each month.
- Changes per month: How often the rate moves. A high number means it changes constantly; a low number means it holds.
Risk & Range
- High/Low: The absolute ceiling and floor of the rate during the 255-day window.
- Steadiness: How far the rate swings around its average. A lower score means a steadier, more predictable rate.
- Days Since Change: A high number, for example above 90, means the rate rarely moves. A low number means it changed recently.
Compare Similar High-Yield Accounts
Compare BMO Alto vs...
Comparing against Standard Savings
Compare Synchrony Bank vs...
Comparing against Standard Savings
High Rates (With Checking Bundle)
Looking for something different? Check out these top-rated alternatives.
More Comparisons
Compare BMO Alto's APY of 3.00% 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 | 3.65% | $0 |
| BMO Alto vs Capital One | 3.10% | $0 |
| BMO Alto vs Chime | 3.75% | $0 |
| BMO Alto vs CIT Bank | 3.75% | $100 |
| BMO Alto vs EverBank | 4.20% | $0 |
| BMO Alto vs Marcus by Goldman Sachs | 3.50% | $0 |
| BMO Alto vs Newtek Bank | 4.20% | $100 |
| BMO Alto vs Openbank | 4.15% | $500 |
| BMO Alto vs Pibank | 4.25% | $0 |
| BMO Alto vs SoFi Bank | 4.20% | $0 |
| BMO Alto vs Varo Bank | 3.75% | $0 |
| BMO Alto vs Wealthfront | 4.20% | $0 |