benefits
Get a high interest rate, pay no monthly plan fee, and more
Earn up to 0.50% bonus savings interest rate every month
Get a bonus interest rate for adding $200 each month to your monthly balance, up to $250,000
0.10% interest rate*12
Earn interest on every dollar
Manage your savings with BMO Savings Goals
Save for a vacation or a big purchase with our new Mobile Banking feature, BMO Savings Goals.
Rates and Fees
Explore the features of the Savings Builder Account
| Features | Details |
|---|---|
Monthly fee | $0 |
Interest rate | 0.60% interest rate*12 comprised of: |
Monthly savings requirement | $200 monthly balance increase to qualify for the bonus interest rate*17 |
Number of transactions per month | One debit transaction per month at no cost*23 |
Maximum number of accounts | 1 per customer |
Eligibility with Plans*3 | Can’t be included in any Bank Plan |
Full disclosure for the BMO 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
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Award-winning digital banking
Explore features like BMO CreditView®, BMO Savings Goals, and BMO 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
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 BMO CashTrack, an artificial intelligence (AI) driven capability.
Compare savings accounts to find the right one for you
Choose a BMO savings account that meets your unique needs.
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BMO 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 debit transaction per month, at no cost.*23 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 (SIN) and a Canadian address to get started.
BMO 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 promotional interest rate* when you open a Savings Amplifier Account and a BMO chequing account.
Premium Rate Savings: Open this account together with a BMO 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 BMO 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.
The different types of saving accounts and their benefits
Savings accounts are a great tool for saving money and earning interest. Learn about the types of accounts available in Canada.
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* Learn more about BMO's Promotional Rate Offer.