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Savings Calculator

Safe and reliable, saving even a small amount regularly can really add up over time. Make saving even easier with automatic contributions from your chequing account into your savings account. Discover what is possible when you prioritize your savings.

Open Account

Already a customer?Sign in to open a savings account.

Calculate your savings

Find out how much you could save by using this simple savings calculator. Tell us what you’re saving for and watch your savings grow.

How much do you want to start with?
$10,000
Minimum $0Maximum $1,000,000
How frequently do you want to contribute?
Monthly
How much do you want to contribute regularly?
$250
Minimum $0Maximum $2,000
How long do you plan on saving for?
5 years
Minimum 1 YearMaximum 10 Years
What is the expected Savings interest rate?
2.00%
Minimum 0 %Maximum 6 %
You could save
$0
over the next
5
years
footnote star
Click on each bar in the graph for details.
A table describing your projected financial outlook.

Your Savings Summary

Your total deposits
$0
Your savings growth
$0
Your total value
$0

Savings Calculator FAQs

  • The right schedule is the one that’s affordable and convenient for your needs. However, remember that the more often and consistently you save the faster your savings will grow, and your goals will be reached sooner.

  • It’s easy. Simply sign into your BMO Online Banking or and BMO Mobile Banking App follow these steps.

    For BMO Online Banking:
    1. Select Move money
    2. Select Account transfers
    3. Select the account you wish to transfer money from.
    4. Select the account you wish to transfer the money to.
    5. Enter the amount you would like to transfer.
    6. Select the date you want the transfer to occur and whether you want it the transfer to be a recurring or one-time transfer. If you choose recurring, you can stop or change the amount through online banking or your mobile app.
    For BMO Mobile Banking App:
    1. Select Pay & Transfer.
    2. SelectTransfer.
    3. Select the account you wish to transfer money from.
    4. Select the account you wish to transfer the money to.
    5. Enter the amount you would like to transfer.
    6. Select the date you want the transfer to occur and whether you want it the transfer to be a recurring or one-time transfer.
    And that’s it! Your funds will be available immediately on the date you selected, but your transfer transaction and current balance can take one business day to update and display.

  • We offer a variety of savings accounts to fit your saving habits:

    • Savings Amplifier gives you no-fee self-serve transfers to your other BMO accounts. You can transfer funds (self- serve) to your other BMO savings account(s) and get a high interest rate.
    • Savings Builder rewards you with bonus interest for growing your savings regularly.
    • Premium Rate Savings is best if you need frequent access to your funds.
    • U.S. Dollar Premium Rate Savings lets you save your U.S. funds and gives you convenient access to them.

  • The best savings account depends on how you plan to save and how often you need to access your money. We’ll provide a brief overview here, but please visit each account page for full details. For our Savings Builder Account, the account balance should grow by at least $200 a month to earn the highest interest. You’ll be rewarded with bonus interest for growing your savings balance.

    If you’re not going to be saving at least $200 a month and if you don’t need frequent access to your money, then check out our Savings Amplifier Account, which has no monthly fees or a minimum deposit. This account also offers a competitive interest rate and more flexibility to access funds by offering unlimited no fee, self-serve transactions to your other BMO accounts.

    If you want to save money in U.S. dollars, check out our U.S. Dollar Premium Rate Savings account

  • The good news is that there are no monthly fees for our savings accounts. There may be transaction fees associated with each account depending on which one you choose.

    Learn more

Ready to get started?

  • Open a savings account

    Apply for an account online in minutes.

  • Visit us

    Come in and talk to us about opening an account.