A closer look at BMO checking accounts, savings options, money market accounts and certificates of deposit — including features, fees and important considerations.
BMO is an established financial institution offering personal banking services in the United States. Its deposit account lineup includes everyday checking, traditional savings, money market accounts and CDs.
Accounts designed for managing purchases, direct deposits, bill payments and other everyday transactions.
Deposit accounts intended to help customers build savings and set aside money for future needs.
Savings-oriented accounts with variable interest rates, balance requirements and account-specific conditions.
Accounts that generally provide a fixed interest rate for a selected term, subject to withdrawal conditions.
Different account types serve different financial needs. The following overview focuses on publicly described BMO deposit products.
An everyday checking account with no monthly maintenance fee and no minimum balance requirement under its standard terms.
An interest-bearing checking option with relationship benefits and additional account features.
A savings account designed to encourage customers to grow their balances over time.
An interest-bearing deposit account with tiered rates and access to funds, subject to account terms and transaction limits.
CDs are intended for money that can remain deposited for a specified period.
BMO provides online and mobile banking services to help customers manage eligible accounts.
Account structure, access to funds and interest-rate conditions can influence which banking product suits a particular goal.
| Account Type | Primary Purpose | Interest | Access to Funds |
|---|---|---|---|
| Checking | Daily transactions | Depends on product | Everyday access |
| Savings Builder | Building savings | Variable | Subject to terms |
| Growth Money Market | Interest-bearing savings | Variable, tiered | Subject to limits |
| CD | Fixed-term saving | Generally fixed | Term restrictions |
Important: Interest rates, APYs, fees and account requirements may change. Always consult current BMO product disclosures for the most accurate information.
Some deposit accounts charge recurring fees. Fee waivers may depend on maintaining a minimum balance or meeting other account requirements.
APY represents the annualized return on deposits including the effect of compounding. Variable rates can change after an account is opened.
Checking accounts generally support frequent transactions. Savings and money market accounts may have restrictions, while CDs generally require funds to remain deposited for a term.
Eligible BMO Bank N.A. deposits are insured by the FDIC, subject to applicable limits and ownership categories. Deposit insurance does not mean that all financial products are protected.
Yes. BMO offers a Growth Money Market account with variable interest rates and account-specific balance and fee requirements.
Eligible deposits at BMO Bank N.A. are covered by FDIC insurance, subject to applicable limits.
No. Growth Money Market rates are variable and can change after the account is opened.
A CD generally locks in an interest rate for a selected term. A money market account typically offers variable interest rates and more flexible access to deposits.
No. BMO Smart Advantage Checking has no monthly maintenance fee. Other checking products may have fees or waiver requirements.
This independent guide uses publicly available product information. Current terms should always be verified with the bank.