BMO Alto Online Savings Account

BMO Alto is the online-only deposit brand of BMO Bank N.A. Its high yield savings account pays 3.00% APY as of October 14, 2026, read from Alto's own rates data, with no minimum deposit, no minimum balance, and no fees. Alto also publishes CD rates in the same data file. The rate is variable, and Alto states the interest rate and APY may change at any time. There is no tiering to parse: Alto's data shows a single APY for savings, so the 3.00% applies to every balance with no balance tiers. Alto is online-only, and Alto Online Savings is a trade name of BMO Bank N.A. One housekeeping rule to know: accounts with a zero balance for 90 consecutive days are closed. Insurance has one wrinkle worth knowing. Alto deposits are FDIC insured, but they are held at BMO Bank N.A., so they are not separately insured: they count toward the same $250,000 FDIC limit as any other deposits you hold at BMO Bank N.A. If you already keep significant money at BMO, opening an Alto account does not extend your coverage. Get it if you want a no-fee, no-minimum account with deposits held at BMO Bank N.A. and you are comfortable with an online-only bank. Skip it if you need in-person service, since Alto is online-only, or if you want a fixed rate, since the APY is variable and can change at any time.