Premium Rate Savings Account

A flexible and convenient account that can be opened together with a chequing account under the same Plan. The Premium Rate Savings account is a great option to help you save while giving you access to your money whenever you need it.

New customer?

You’ll need a Chequing Account first^{footnote *100}

Save on your terms

0.010% interest rate^*12
Earn daily interest on every dollar.
Share transaction limits with your chequing account.
Include this account with your Plan and pay one monthly Plan fee^*1,^*3
Full access to your funds.
Withdraw your money whenever you need it.

New customer? You will need a Chequing Account first^{footnote *100}

Compare our most popular accounts

table shows benefits and features of available bank accounts
	Premium Rate Savings	Savings Amplifier ^*26	Savings Builder ^*26
Interest rate	0.010% interest rate^*12	0.800% interest rate^*12	up to 0.950% interest rate^16 0.150% base interest rate ^16 0.800% bonus interest rate^*16
Monthly savings requirement	$0	$0	$200 to qualify for the bonus interest rate^*17
Number of transactions per month	Transactions based on Plan limits^7,^105	Unlimited no fee self-serve transfers to your other BMO account. $5 fee for each withdrawal or assisted transfer out.^99,^25	One debit transaction per month at no cost^23,^25
Maximum number of accounts	1 with Practical Plan 20 with all other Plans^1,^3	Unlimited	Limited to one per customer
Eligibility with Plans^*3	Yes. Can be included in any Bank Plan	No. Can’t be included in a Bank Plan	No. Can’t be included in a Bank Plan
Open an account	New customer? You will need a Chequing Account first^{footnote *100}	I'm a BMO customer I'm a new customer	I'm a new customer

table shows benefits and features of available bank accounts
Premium Rate Savings	Savings Amplifier ^*26
Interest rate
0.010% interest rate^*12	0.800% interest rate^*12
Monthly savings requirement
$0	$0
Number of transactions per month
Transactions based on Plan limits^7,^105	Unlimited no fee self-serve transfers to your other BMO account. $5 fee for each withdrawal or assisted transfer out.^99,^25
Maximum number of accounts
1 with Practical Plan 20 with all other Plans^1,^3	Unlimited
Eligibility with Plans^*3
Yes. Can be included in any Bank Plan	No. Can’t be included in a Bank Plan
New customer? You will need a Chequing Account first^{footnote *100}	I'm a BMO customer I'm a new customer

table shows benefits and features of available bank accounts
Savings Builder ^*26
Interest rate
up to 0.950% interest rate^16 0.150% base interest rate ^16 0.800% bonus interest rate^*16
Monthly savings requirement
$200 to qualify for the bonus interest rate^*17
Number of transactions per month
One debit transaction per month at no cost^23,^25
Maximum number of accounts
Limited to one per customer
Eligibility with Plans^*3
No. Can’t be included in a Bank Plan
I'm a new customer

How to apply

Premium Rate Savings Account

Premium Rate Savings Account F A Q s

We offer a variety of accounts to meet your savings habits. There’s one that’s a fit for you!
- Savings Amplifier gives you unlimited self-serve transfers for no fee. You can transfer funds (self serve) to your other BMO accounts, get a high interest rate and no monthly fee.
- Savings Builder rewards you with bonus interest for growing your savings month.
- Premium Rate Savings is best if you need frequent access to your money.
- U.S. Dollar Premium Rate Savings lets you save your U.S. funds and gives you frequent access to them.
The good news is that the Premium Rate Savings account can be added to your Chequing Plan so you only pay one monthly fee. If you don’t want a chequing account but just want a Premium Rate Savings account, you’ll have to visit a branch. If you want both, you can open chequing and Premium Rate Savings account online at the same time. Plan and transaction fees on your chequing account will vary depending on the Plan you choose. See our chequing accounts to choose the one best suited to you.