Savings Builder Account

^{Footnote 1 details1}For every month your Savings Builder account balance grows by at least $200, we will credit the account with a $5 savings reward within 5 calendar days after the end of the month. To calculate if your balance has grown by $200, we will compare the Ledger Balance on the last Business Day of the previous month to the Ledger Balance on the last Business Day of the current month. Interest and savings reward payments will not count towards your balance growth.

Your account is eligible for 12 savings rewards beginning with the month your account is opened. The first savings reward is based on your savings growth from the Business Day the account is opened through the last Business Day of that month. If your initial deposit is not received until the month after account opening, the account will only be eligible for 11 savings rewards.

Your account must be open when the savings rewards are paid. Savings rewards will be reported to the IRS for tax purposes and you are responsible for any applicable taxes.

Savings rewards are available for new accounts only. An account switched into Savings Builder from a different product is not eligible for savings rewards.

Savings rewards are limited to one Savings Builder account per customer as Primary Account Owner. Only your first account opened is eligible for savings rewards.

You are not eligible to receive savings rewards if you have previously opened a Statement Savings account between February 3, 2020 and October 18, 2021 and participated in the Statement Savings account – Savings Rewards offer.

^{Footnote 2 details2}Visit the BMO Security Center for details.

^{Footnote 3 details3}Message and data rates may apply. Contact your wireless carrier for details.

^{Footnote 4 details4}Please visit www.fdic.gov for current deposit insurance limits.

^{Footnote 5 details5}All Interest Rates and Annual Percentage Yields (APY) are accurate as of the effective date shown above. For variable rate accounts, interest rates and APYs may change after the account is opened. At our discretion we may change the interest rate on these accounts daily. For accounts that have more than one tier, the interest rate corresponding to the highest tier into which the collected balance falls will be paid on the entire collected balance. Fees or withdrawals will reduce earnings. These rates apply to our Illinois and Northwest Indiana locations, excluding locations in South Beloit, Roscoe and St. Clair County in Illinois.

^{Footnote 6 details6}Foreign Transaction Fees will apply at Allpoint^® ATMs located outside of the United States.

^{Footnote 7 details7}A Non-BMO ATM Transaction is any transaction conducted at a Non-BMO ATM, including, for example, a withdrawal, transfer, or balance inquiry. We charge this fee for each Non-BMO ATM Transaction, except for a balance inquiry. The ATM owner or operator may also charge you a surcharge fee for a withdrawal, transfer, or balance inquiry.

^{Footnote 8 details8}The monthly fee for paper statements is automatically waived if you opt to go paperless through your BMO Digital Banking preferences or if any individual associated with your account is 65 years or older.

^{Footnote 9 details9}Mobile Deposit is available using the BMO Digital Banking App. This service may not function on older devices. Users must be a BMO Digital Banking customer with a BMO account opened for more than 5 calendar days. Deposits are not immediately available for withdrawal. For details, please see the BMO Digital Banking Agreement found at bmo.com/en-us/legal.

^{Footnote 10 details10}If you make an Internal Transfer on a weekend or holiday, we’ll credit the payment the same day, but we’ll post the payment on the next Business Day.