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Tax-Free Savings Account
(TFSA)

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Save and invest up to $5,000 a year without paying tax on the money you earn with a Tax-Free Savings Account (TFSA).

Interest Rate
  • % interest rate on cash savings up to $5,000.00*
  • % interest rate on cash savings over $5,000.00*
Features
  • Invest up to a maximum of $5,000 each year
  • Complete access to your money any time tax-free (excludes debit card access)
  • No fees for contributions, withdrawals or transfers from this account
  • Eligible for CDIC deposit insurance up to applicable limits to protect your savings
  • Interest paid on every dollar is calculated daily and paid monthly
  • Semi-annual or quarterly statements
*= Paid on the portion of the balance within each tier.
Rates are calculated on a per annum basis. Rates shown are subject to change without notice.

You pay no fees on TFSA Savings Account transactions.

Banking Agreements

Download the Agreements for Everyday Banking (218 KB - PDF) brochure:
Contains all of the relevant banking agreements that apply to Personal Accounts at BMO Bank of Montreal.

Download the Better Banking Guide (965 KB - PDF) brochure:
Information about Personal Accounts, Everyday Banking Plans, services, fees and more.

Download the Accessible Better Banking Guide (511 KB - PDF) brochure:
Information about Personal Accounts, Everyday Banking Plans, services, fees and more.

Download the Banking Solutions (1 MB - PDF) brochure:
An overview of the various banking solutions BMO provides to our customers.

Download the Chip Technology (284 KB - PDF) brochure:
Information about Chip technology included with our debit cards.

Opening accounts online is now easier.
Premium Rate Savings Account
%*
Smart Saver Account
%**
*up to $59,999.99
**over $5,000