Benefits
Save and earn on your own terms
0.010% interest rate*12
Earn interest on every dollar
Full access to your funds
Withdraw your money whenever you need it.
Manage your savings with B M O Savings Goals
Save for a vacation, or a big purchase with our new Mobile Banking feature, BMO Savings Goals.
Fees
Explore the features of the Premium Rate Savings Account
Full disclosure for the B M O Premium Rate Savings account.
Save smarter with our savings calculator
Calculate your savings and reach your goals faster.
Helping you make real financial progress
3,300 + ATMs and 900 branches across Canada
Bank at BMO ATMs for no fee and visit us for personalized support at a branch.
Award-winning digital banking
Explore features like B M O CreditView®, BMO Savings Goals, and B M O QuickPay.
Interactive financial tools like BMO SmartProgress™
Learn more about everyday banking, saving, investing, budgeting, home buying, and more on our interactive learning platform.
Mobile
Easy, secure digital banking
“Easy to use and always at my fingertips. I like being able to do my banking on the go and this app provides just that.”
“Makes banking, tracking, budgeting, and quick analysis of personal trends easy. Highly recommend!”
“My favourite part is how you can check your credit score any time you want with a single click!”
“Easy to use and always at my fingertips. I like being able to do my banking on the go and this app provides just that.”
“Makes banking, tracking, budgeting, and quick analysis of personal trends easy. Highly recommend!”
“My favourite part is how you can check your credit score any time you want with a single click!”
“Easy to use and always at my fingertips. I like being able to do my banking on the go and this app provides just that.”
“Makes banking, tracking, budgeting, and quick analysis of personal trends easy. Highly recommend!”
“My favourite part is how you can check your credit score any time you want with a single click!”
Reviews have been edited for spelling and punctuation.
Award-winning mobile banking
Recognized for Excellence in Digital Banking for a third year in a row.
Honoured for digital money management features and account alerts.
Awarded for B M O CashTrack, an artificial intelligence (A I) driven capability.
Compare savings accounts to find the right one for you
Choose a B M O savings account that meets your unique needs.
Open a savings account online in minutes
Choose an account
Find the right account for you.
Complete the online application
Our online application is fast, easy, and accessible.
Sign up for B M O Online Banking
Register for B M O Online Banking and start using the B M O mobile banking app.
Premium Rate Savings Account FAQs
A Premium Rate Savings Account functions like a regular savings account where you can store your money and earn interest, but with added perks. BMO’s Premium Rate Savings Account is a savings option that offers you the flexibility and convenience, including access to your money whenever you need it. It can be paired with any BMO chequing account, so you only pay one monthly account fee.
Yes, you can. If you’re an existing B M O customer, you can sign in to Online Banking to add the Premium Rate Savings Account.
If you’re new to B M O, you’ll need to get a chequing account with us first*100 before you can add the Premium Rate Savings Account.
This will depend on the bank Plan for the BMO chequing account that you have. There is no monthly savings requirement for the Premium Rate Savings Account.
This will depend on the bank Plan for the BMO chequing account that you have. Transaction limits are shared among these two accounts.
B M O offers several savings accounts, including:
Savings Amplifier: Earn a competitive interest rate and get unlimited self-serve transfers with no monthly fees. You can earn a bonus interest rate when you open a Savings Amplifier Account and a B M O chequing account.
Savings Builder: Get a base interest rate each month to maximize your savings and one free transfer a month. You can earn additional interest when you increase your monthly balance by at least $200 each month.
U . S . Dollar Premium Rate Savings: Open this account together with a B M O chequing account under the same plan. Save in U . S . dollars and earn interest. Transaction fees vary depending on the plan you choose.
Can I add this savings account to Family Bundle?
Yes, the Premium Rate Savings account can be added to Family Bundle. See how Family Bundle can save you fees and better manage your finances.What are the interest rates on your savings accounts?
Take a look at our current savings interest rates on our main Savings Accounts page.
Explore our resources for savings accounts
What is a savings account? Here’s why you need one
A savings account may sound straightforward – a place to store your money for the future – but there’s more to it than that.
High interest savings accounts (HISAs) explained in 2025
Can a HISA help you grow your savings and meet your financial goals? We take a deeper look at the benefits and limitations of this popular savings account.
How to make an emergency savings fund
Find out why an emergency fund is a key part of your financial wellness and how to get started.
Ready to get started?
Open an account online
If you already have a chequing account, you can apply for an account online in as little as 7 minutes.
Come in and talk to us
Drop by your nearest branch to chat about your financial future.
New customer? You will need a Chequing Account first*100