Skip to main content
Ratehub logo
Ratehub logo

Compare the best BMO savings accounts

Want to open a BMO savings account? Why not compare your options? Find the highest-earning savings accounts in Canada from multiple banks in seconds.

let's get started

BMO savings accounts

Rates updated:

  • No Results
with a balance of
  1. Bank of Montreal BMO TFSA Saving Account

    0.05%$3 first year return based on$5,000 balance
    Monthly fee
    Transaction fees

A few things we're proud of

  • 1,200,000

    monthly users

  • 11 years


  • Over 1M

    better choices made

  • Trusted partner

    to Canada’s top financial institutions

The best savings accounts in Canada

About BMO Bank of Montreal

As one of the five largest banks in Canada, the BMO Bank of Montreal provides personal financial services such as banking and wealth management. When banking with BMO Bank of Montreal, you can enjoy 24/7 customer service from BMO’s online banking system or its telephone banking and mobile banking services. Moreover, BMO has a large network of branch locations and ATMs, which you can use to access your BMO savings accounts.


Compare Bank of Montreal's savings accounts

BMO Bank of Montreal Savings Builder Account

This is one of BMO’s newer savings accounts. The Savings Builder Account features a relatively competitive interest rate. You can also earn a potential bonus interest that can be earned when you add $200 to your balance on a monthly basis. You’ll receive the interest rate above for balances up to $250,000. This account also features no minimum balance requirement and one free transfer each month.

BMO Bank of Montreal TFSA Savings Account

BMO’s tax-free savings account (TFSA) can be opened by Canadian residents who are at least 18 years of age. Moreover, a low minimum balance of $50 is needed at all times. However, the interest rate paid on this account may be less competitive than those paid on TFSAs from other providers.

BMO Bank of Montreal Smart Saver Account

If you’re looking to save for longer periods, then the Smart Saver Account will help you earn a relatively competitive interest rate. There’s no minimum balance required and you can make up to one transfer out of the Smart Saver Account without being charged. However, transactions after the first each month are subject to high transaction fees. Interest on this account is taxable.

BMO Bank of Montreal Premium Rate Savings Account

The Premium Rate Savings Account is an everyday savings account that offers flexibility. This account may be suitable for you if you have short-term savings goals. The number of free transactions you receive will depend on your bank plan. Unlike with the other BMO savings accounts, you can deposit either Canadian or U.S. dollars.

Compare other BMO Bank of Montreal products

BMO also offers cashable and non-cashable GICs, mortgages, lines of credit, as well as debit cards and credit cards that reward you with Air Miles when you make purchases.

Get the best savings account

Depending on the savings account you need, BMO Bank of Montreal might have what you’re looking for. Nonetheless, it never hurts to take a look at all your other options before making a decision. You can start your search by using the savings account comparison tool which makes comparisons between different savings accounts easier.

Natasha Macmillan, Business Director of Everyday Banking

With over a decade of experience in the finance industry, Natasha works closely with Canada's top financial institutions - from banks to credit unions - to help's 1,200,000 monthly users get matched with the right banking products. read full bio

Making dollars make sense

explore more articles

The knowledge bank

A wealth of knowledge delivered right to your inbox.

By submitting your email address, you acknowledge and agree to’s Terms of Use and Privacy Policy. Contact us for more information. You can unsubscribe at any time.


Whether you need a mortgage, credit card, savings account, or insurance coverage, we help you find and compare the best financial products for your specific needs.

When it comes to mortgages, is more than just a place to research and compare the best rates. Our goal is to give Canadians the best mortgage experience from online search to close. This means offering Canadians the mortgage tools, information and articles to educate themselves, allowing them to get personalized rate quotes from multiple lenders to compare rates instantly, and providing them with the best online application and offline customer service to close their mortgage all in one place. has been named Canada's Mortgage Brokerage of the Year for four years straight (2018-2021). With over 12 years of mortgage experience, and over $11 billion in mortgages funded, we deliver you the best mortgage experience in Canada.

How does make money?

Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. However, not all products we list are tied to compensation for us. Our industry-leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.

read more about us