benefits
Get a high interest rate, pay monthly plan fee, and more
Earn up to 0.95% bonus savings interest rate every month
Get a bonus interest rate for adding $200 each month to your monthly balance, up to $250,000
0.15% interest rate*12
Earn interest on every dollar
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 Savings Builder Account
| Transaction type | Fee |
|---|---|
Monthly fee | $0 |
Interest rate | 0.950% interest rate*12 0.150% interest rate*16 0.800% interest rate*16 |
Monthly savings requirement | $200 to qualify for the bonus interest rate*17 |
Number of transactions per month | |
Maximum number of accounts | 1 per customer |
Eligibility with Plans*3 | Can’t be included in any Bank Plan |
Full disclosure for the B M O Savings Builder account.
Save smarter with our savings calculator
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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.
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B M O Savings Builder Account FAQs
A BMO Savings Builder Account functions like a regular savings account where you can store your money and earn interest, but with added perks. You get a base interest rate every month to maximize your savings, plus one free transfer a month. You can also earn additional interest when you increase your balance by at least $200 a month.
Yes, you can apply online for the account in minutes. You’ll need your Social Insurance Number (S I N) and a Canadian address to get started.
The good news is that there are no monthly fees for the Savings Builder Account, however there are transaction fees. You get one free transfer out per month with the Savings Builder Account and then a $5 fee for each withdrawal or additional transfer out that month*25.
You get one free transaction per month with the Savings Builder account. After that, every withdrawal or additional transfer is $5 until the next month.
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.
Premium Rate Savings: Open this account together with a B M O chequing account under the same plan. Earn daily interest on every dollar. Transaction fees vary depending on the plan you choose.
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?
Sorry, but this savings account is not eligible for Family Bundle. Only Premium Rate Savings and U.S. Dollar Premium Rate Savings accounts can be added to Family Bundle.What are the interest rates on your savings accounts?
Take a look at our current savings interest rates on our main bank account interest rates 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.
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