BMO Savings Builder Account
CDIC Insured
Incentivizes monthly saving by offering a bonus interest rate when you grow your balance.
Current Interest Rate
4.55%
Promo Rate
Calculate Your Returns with BMO
$
Total Interest Earned
$464.61
Based on 4.55% interest rate over 12 months
Key Account Facts
Monthly Fees
$0
Min Deposit
$0
Transactions
1 Free/Mo
Transfer Time
Instant (Internal)
The Good
- Encourages saving habit
- No fee
- Access to BMO ecosystem
The Bad
- Lose bonus if you don't save $200/mo
- Base rate is low
- Fees for non-BMO transfers
Frequently Asked Questions
How do I get the bonus rate?
You must increase your monthly balance by at least $200.