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BMO
Savings account

BMO Savings Amplifier Account

BMO
Best for

A strong promo rate from a Big Five bank with no minimum balance.

Promotional rate
4.75%
Ongoing rate
1%
Monthly fee
None
Minimum balance
None

Rate verified August 3, 2026 · confirm with BMO before applying.

What this account could grow to

Pre-filled with the ongoing rate of 1%. Promotional rates don't last, so the ongoing figure is the honest basis for a long-term projection.

1%
5 yrs
Future value
$25,887
You put in
$25,000
Interest earned
$887
Growth over time
Yr 1
$13,114
Yr 2
$16,260
Yr 3
$19,437
Yr 4
$22,646
Yr 5
$25,887
Contributions Interest

Run the numbers

Compound interest calculator

Project what this balance becomes over time.

Inflation calculator

Check the rate is actually beating inflation.

TFSA contribution room

Hold it in a TFSA and the interest is tax-free.

GIC calculator

Compare against locking the money in instead.

Frequently asked questions

What interest rate does the BMO Savings Amplifier Account pay?

It pays a promotional 4.75%, then reverts to 1%. Promotional rates are the headline, but the ongoing rate is what matters if you're leaving money there long term.

Are there fees or minimums on the BMO Savings Amplifier Account?

There's no monthly fee, and no minimum balance is required. Deposits are CDIC insured up to the applicable limits.

How current is this rate?

We last verified it on August 3, 2026. Rates on deposit accounts move frequently, so confirm the current figure with BMO before you apply.

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Written by
VaultNerd Editorial Team

Researching and writing about Canadian personal finance since 2026.

Last reviewed August 2026 · How we research

Cite this page

“BMO Savings Amplifier Account.” VaultNerd, https://www.vaultnerd.com/ca/savings-accounts/bmo-savings-amplifier, updated August 2026.

Sources
  • BMO published product and rate pages
  • VaultNerd products database