BMO Harris Savings Builder

BMO Harris Savings Builder : Building Your Financial Future

BMO Harris Savings Builder is a savings account that rewards you for growing your savings every month. It has no monthly service fee and the minimum opening deposit is $25. For the first year, you’ll earn a $5 bonus every month you deposit $200 or more.

Here is a summary of the key features of the BMO Harris Savings Builder account:

  • No monthly service fee
  • Minimum opening deposit of $25
  • $5 bonus every month you deposit $200 or more for the first year
  • Low interest rate of 0.01% APY
  • Easy access to your savings

The BMO Harris Savings Builder account is a good option for those looking for a simple savings account with no monthly service fees and who are willing to deposit $200 or more per month to earn a bonus. . However, it is important to note that the interest rate on this account is very low, so it may not be the best option for those who want to maximize their earnings on their savings.

Here are some tips for using the BMO Harris Savings Builder account to reach your financial goals:

  • Deposit $200 or more monthly to get a $5 bonus.
    Set up recurring transfers from your checking account to your Savings Builder account to make it easy to save money every month.
    Use your Savings Builder account to save for a specific goal, such as a down payment on a home or a new car.
    Once you reach your goal, consider moving your money to a higher-yielding savings account to earn a higher interest rate.

Please note that the above information is subject to change. For the latest information, please visit the BMO Harris website.

BMO Harris Savings Builder

BMO Harris Savings Builder Account

The BMO Harris Savings Builder account is a savings account that rewards you for growing your savings each month. It has no monthly service fee and the minimum opening deposit is $25. For the first year, you’ll earn a $5 bonus every month you deposit $200 or more.

Here are the key features of the BMO Harris Savings Builder Account:

  • No monthly service fee
  • Minimum opening deposit of $25
  • $5 bonus every month you deposit $200 or more for the first year
  • Low interest rate of 0.01% APY
  • Easy access to your savings

Who should consider the BMO Harris Savings Builder Account?

The BMO Harris Savings Builder Account is a good option for people who:

  • Are looking for a savings account with no monthly service fee
  • Are willing to make a monthly deposit of $200 or more to earn the bonus
  • Are not concerned about earning the highest possible interest rate on their savings

How to use the BMO Harris Savings Builder Account to reach your financial goals:

  • Set a goal for your savings, such as a down payment on a house or a new car.
    Deposit $200 or more monthly to get a $5 bonus.
    Set up recurring transfers from your checking account to your Savings Builder account to make it easy to save money every month.
    Once you reach your goal, consider moving your money to a higher-yielding savings account to earn a higher interest rate.

Here is an example of how to use the BMO Harris Savings Builder Account to reach your financial goals:

Let’s say you want to save $10,000 for a down payment on a home. If you open a BMO Harris Savings Builder account and deposit $200 per month, you will receive a $5 bonus per month. After one year, you will have saved $2,400 plus $60 in bonuses. After two years, you will have saved $4,800 plus $120 in bonuses. and so on.

By the end of the fifth year, you will have saved $10,000 plus $250 in bonuses. You can then use this money for your down payment on the home.

Please note that the above information is subject to change. For the latest information, please visit the BMO Harris website.

BMO Harris Savings Builder Account

BMO Savings Builder Account Interest Rate

The BMO Savings Builder account currently has an interest rate of 0.01% APY. That means if you deposit $1,000 into the account, you’ll earn $0.10 in interest per year.

The interest rate on the BMO Savings Builder account is variable, which means it can change at any time. BMO Harris will notify you if interest rates change.

Although the interest rate on the BMO Savings Builder account is low, it is important to note that this account has no monthly service fee and no minimum opening deposit. This makes it a good option for those looking for a simple savings account with no fees and who are willing to sacrifice some interest earnings for convenience.
BMO Savings Builder Account Interest Rate

If you are looking for a savings account with a higher interest rate, you may want to consider a high-yield savings account. High-yield savings accounts typically offer interest rates of 0.50% APY or higher. However, these accounts may have higher minimum opening deposits and monthly service fees.

Ultimately, the best savings account for you will depend on your individual needs and financial goals.

BMO Savings Builder Rate

The current interest rate for the BMO Savings Builder account is 0.01% APY. It is a variable rate, which means it can change at any time. BMO Harris will notify you if interest rates change.

Although the interest rate on the BMO Savings Builder account is low, it is important to note that this account has no monthly service fee and no minimum opening deposit. This makes it a good option for those looking for a simple savings account with no fees and who are willing to sacrifice some interest earnings for convenience.

If you are looking for a savings account with a higher interest rate, you may want to consider a high-yield savings account. High-yield savings accounts typically offer interest rates of 0.50% APY or higher. However, these accounts may have higher minimum opening deposits and monthly service fees.

BMO Savings Builder Rate

Savings Builder Account BMO Rate

The current interest rate for the Savings Builder Account from BMO Harris is 0.01% APY. It is a variable rate, which means it can change at any time. BMO Harris will notify you if interest rates change.

Although the Savings Builder account has a low interest rate, it is important to note that this account has no monthly service fee and a minimum opening deposit of $25. This makes it a good option for those looking for a simple savings account with no fees and who are willing to sacrifice some interest earnings for convenience.

For the first year, you’ll earn a $5 bonus every month you deposit $200 or more. This can help your savings grow faster.

If you are looking for a savings account with a higher interest rate, you may want to consider a high-yield savings account. High-yield savings accounts typically offer interest rates of 0.50% APY or higher. However, these accounts may have higher minimum opening deposits and monthly service fees.

Ultimately, the best savings account for you will depend on your individual needs and financial goals.

Here are some tips for using a Savings Builder account to reach your financial goals:

  • Deposit $200 or more monthly to get a $5 bonus.
    Set up recurring transfers from your checking account to your Savings Builder account to make it easy to save money every month.
    Use your Savings Builder account to save for a specific goal, such as a down payment on a home or a new car.
    Once you reach your goal, consider moving your money to a higher-yielding savings account to earn a higher interest rate.

Savings Builder Account BMO Reddit

The BMO Savings Builder account is a popular topic on Reddit, with many users sharing their experiences with the account. Some of the most common comments include:

  • Bonuses are a great way to increase your savings. Many customers appreciate the $5 bonus that is offered for monthly deposits of $200 or more. This can add up to $60 per year, helping you reach your financial goals faster.
    Interest rates are low, but fees are negligible. Despite the low interest rate on a Savings Builder account, many consumers are willing to sacrifice some interest earnings for the convenience of a no-fee account.
    It’s easy to open and manage an account. Many customers find it easier to open and manage a Savings Builder account online or through the BMO Harris app.

Here are some specific comments from Reddit users about the BMO Savings Builder Account:

  • “I love the BMO Savings Builder Account! The bonus is a great way to boost my savings, and I appreciate that there are no fees.”
  • “I’m using the Savings Builder Account to save for a down payment on a house. The bonus is helping me reach my goal faster.”
  • “I’m happy with the Savings Builder Account. It’s easy to use and the bonus is a nice perk.”
  • “I’m not sure if the Savings Builder Account is the best option for people who are looking to maximize their earnings on their savings. But for people who are looking for a simple savings account with no fees, it’s a good option.

Overall, the BMO Savings Builder account is a popular choice for those looking for a simple savings account with no fees and who are willing to sacrifice some interest earnings in exchange for bonus convenience.

BMO Promotional Interest Savings Account

The BMO Promotional Interest Savings Account is a savings account that offers a promotional interest rate for a limited period. The current promotional interest rate is 5.25% APY, and is available to new customers who open an account between October 1, 2023 and January 31, 2024. Promotional interest rates will apply to deposits up to $1,000,000.

After the promotional period ends, the interest rate on the account will revert to the regular Savings Amplifier account rate, which is currently 1.90% APY.

The BMO Promotional Interest Savings Account has no monthly service fee and a minimum opening deposit of $25. It also offers unlimited no-fee self-serve transfers to other BMO accounts.

To qualify for the promotional interest rate, you must open a new BMO Savings Amplifier account and deposit at least $25. You must also be a new BMO customer, meaning you have not had a BMO Personal Deposit account in the past 90 days.

The BMO Promotional Interest Savings Account is a good option for those looking for a savings account with a higher interest rate. However, it is important to note that the promotional interest rate is available for a limited time only. After the promotional period ends, the interest rate on the account will revert to the regular savings amplifier account rate, which is lower.

If you’re considering opening a BMO Promotional Interest Savings Account, read the terms and conditions carefully to make sure it’s the right account for you.

Leave a Comment