BMO Alto vs. Synchrony Bank
BMO Alto's Savings Account pays 3.00% APY while Synchrony Bank's High Yield Savings pays 3.30% 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 $30 more than BMO Alto annually ($330 vs $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 2, 2026 | Synchrony BankHigh Yield Savings Sep 4, 2026 |
|---|---|---|
| APY | 3.00% | 3.30% |
Earns in a year | $5,000+$150 $10,000+$300 $25,000+$750 | $5,000+$165 $10,000+$330 $25,000+$825 |
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 4.01% APY.
Comparison Analysis
Comparing BMO Alto vs. Synchrony Bank
Executive Summary
BMO Alto offers a High Yield Savings Account with a competitive APY of 3.00%, which is available online with no minimum balance or maintenance fees. In contrast, Synchrony Bank's High Yield Savings Account outperforms with an APY of 3.30%, also requiring no minimum balance and offering similar terms. This higher APY translates to better returns, particularly noticeable at larger deposit amounts. Additionally, Synchrony Bank provides a superior mobile app experience, enhancing customer accessibility. Both accounts do not require direct deposit, making them flexible options 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 checking account or direct deposit required
Why Synchrony Bank?
- Higher potential APY (3.30% 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. $330 vs $300/yr).
Better Returns at $25,000
Synchrony BankSynchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $825 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 $30 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 $30 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+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
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: 9/2/2026 0.15%90-day change | 3.30% Observed: 9/4/2026 0.10%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 |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| 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 |
Compare Savings Rates Over Time
Historical Performance
| Metric | Synchrony Bank |
|---|---|
| High Yield Savings | |
Current APY | 3.30% |
Trend | Stable |
Speed of change | -0.03 |
Days Since Change | 78 |
7-Month High | 3.50% |
7-Month Low | 3.30% |
Changes per month | 0.27 |
Steadiness | 0.024 |
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 223-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.
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High Rates (With Checking Bundle)
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More Comparisons
Compare BMO Alto's APY of 3.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| BMO Alto vs Ally Bank | 3.00% | $0 |
| BMO Alto vs American Express | 3.00% | $0 |
| BMO Alto vs Axos Bank | 4.21% | $0 |
| BMO Alto vs Barclays | 3.65% | $0 |
| BMO Alto vs Capital One | 3.50% | $0 |
| BMO Alto vs Chime | 3.75% | $0 |
| BMO Alto vs CIT Bank | 3.75% | $100 |
| BMO Alto vs EverBank | 3.90% | $0 |
| BMO Alto vs Marcus by Goldman Sachs | 3.40% | $0 |
| BMO Alto vs Newtek Bank | 4.20% | $100 |
| BMO Alto vs Openbank | 3.80% | $500 |
| BMO Alto vs Pibank | 4.10% | $0 |
| BMO Alto vs SoFi Bank | 4.00% | $0 |
| BMO Alto vs Varo Bank | 3.75% | $0 |
| BMO Alto vs Wealthfront | 3.95% | $0 |