$0
Monthly fee
A no-fee savings account that pays bonus interest in months you grow your balance.
The BMO Savings Builder Account pays a low base rate, with bonus interest layered on top in any month you grow your balance by $200 or more.
The bonus interest applies to balances up to $250,000.
BMO adjusts both rates over time, so it's worth checking BMO's rates page for the current figures.
There's no monthly fee on the BMO Savings Builder Account.
Keep in mind that BMO asks for an opening deposit of roughly $25 to get started.
The Savings Builder is designed around a simple habit, rewarding you with extra interest in the months your balance grows.
Add $200 or more in a given month and you'll earn bonus interest on top of the base rate, on balances up to $250,000. In months where your balance doesn't grow by that much, you'll earn the base rate only.
Deposits are eligible for CDIC coverage.
Terms and conditions apply. The information for the BMO Savings Builder Account has been collected independently by Prince of Travel and is not provided or reviewed by BMO. Offers, rates, and fees are subject to change — always confirm details on the financial institution's website before applying.
Last updated: July 8, 2026
Chequing