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Savings Accounts, Money Markets and CDs

Watch your savings grow with an account that offers competitive rates and terms that best fit your goals and lifestyle. Make real financial progress knowing that your money is insured by the FDIC footnote 1. Easily manage your money online with a variety of resources at your fingertips.

What do you need to open a savings account

Get an extra $5 a month when you grow your balance by $200 or more in a new Savings Builder account for the first year footnote 3.

Get Started

Find a savings account that's right for you

Most popular

Savings Builder

open in minutes

Get rewarded for saving!

  • No monthly maintenance fee so your money goes farther

  • Get an extra $5 every month you save $200 or more, for the first year footnote 3

  • Get easy access to your savings

Featured savings account

Get our best rate with access footnote 2 to your money!

  • $10 monthly maintenance fee, waived with a $5,000 minimum daily balance

  • You may get higher interest rates when you also have a BMO Relationship Checking account footnote 4

  • Get easy access footnote 2 to your money with competitive rates

Guaranteed growth

Park your savings at a higher rate!

  • No monthly maintenance fee

  • Competitive rates and your choice of terms

  • Feel secure knowing your CD interest rate is locked in for your term

Security however you bank

Our security features ensure that your banking experience is convenient and safe. Whether you bank via mobile, online or telephone, you can be confident that your personal information is secure.Our financial crimes unit is made up of world-class expertise in cyber security, fraud, physical security and crisis management. We work hard in response to security threats and will to assist you in the recovery process.

Our customer service sets us apart

Forbes named us one of the World’s Best Banks, thanks to our customer focus and our leading digital and mobile banking tools.

Forbes World's Best Banks logo

Here’s what you need to open a savings account

  • Phone number, e-mail address and U.S. residential address
  • Your date of birth and Social Security Number
  • U.S. citizenship (if you’re not a U.S. citizen, you can apply over the phone or in person at a BMO branch)
  • A routing and account number so that you can start adding money to your savings account

Resources for your savings journey

CDs vs Money Market accounts: Which one should you choose?

Growing your money isn’t just about how much you earn – it’s also about how much you save.

How to start an emergency fund

We’ll help you prepare for any financial surprises that may come your way.

Stop spending and start saving

Are you worried about your savings? We get it – and you’re not alone. More than 40% of Americans worry.

Need support?That’s what we’re here for.

  • Ask us anything

    Give us a call if you have any questions.

  • Come in and talk to us

    Stop by your nearest branch to chat about your financial future.

    Make an appointment
  • Footnote 1 details Please visit  for current FDIC insurance limits.
  • Footnote 2 detailsTransaction Limitations.
  • Footnote 3 detailsFor every month your Savings Builder account balance grows by at least $200, we will credit the account with a $5 savings reward within 5 calendar days after the end of the month. To calculate if your balance has grown by $200, we will compare the Ledger Balance on the last Business Day of the previous month to the Ledger Balance on the last Business Day of the current month. Interest and savings reward payments will not count towards your balance growth.
  • Your account is eligible for 12 savings rewards beginning with the month your account is opened. The first savings reward is based on your savings growth from the Business Day the account is opened through the last Business Day of that month. If your initial deposit is not received until the month after account opening, the account will only be eligible for 11 savings rewards.
  • Your account must be open when the savings rewards are paid. Savings rewards will be reported to the IRS for tax purposes and you are responsible for any applicable taxes.
  • Exclusions:
  • Savings rewards are available for new accounts only. An account switched into Savings Builder from a different product is not eligible for savings rewards.

  • Savings rewards are limited to one Savings Builder account per customer as Primary Account Owner. Only your first account opened is eligible for savings rewards.

  • You are not eligible to receive savings rewards if you have previously opened a Statement Savings account between February 3, 2020 and October 18, 2021 and participated in the Statement Savings account – Savings Rewards offer.

  • Footnote 4 details We may offer higher interest rates when you are an Account Owner of both a BMO Relationship Checking account and a Relationship Plus Money Market account. See the BMO Relationship Checking account Deposit Account Disclosure for details about Relationship Packages.
  • Footnote 5 details Early withdrawal penalties may apply. For current rate information contact your banker or call us at 1-800-546-6101. CDs opened online can only be in individual or joint ownership, and cannot be for an IRA. For CDs opened online, funds may not be withdrawn for 11 business days after funding. For CDs opened by phone, accounts must be funded within 10 business days of application, and funds may not be withdrawn for 11 business days after funding. Deposits at FDIC-insured institutions are insured up to at least $250,000 per depositor. Please visit for current FDIC insurance limits.