BMO Income Generator™
B M O Income Generator allows you to customize the amount of income you will need to receive each month. You'll receive a steady stream of monthly income, while the rest of your investment continues to earn interest at high rates normally associated with 5-year GICs. You've built up your savings, and now you're ready to reward yourself by putting your savings to work while receiving a steady source of monthly income, customized to your need. Ideal for the longer-term investor, B M O Income Generator™ is a smart and secure way to keep your money working for you while you are receiving a predictable stream of monthly income.
Key Benefits:
- An Income Solution– pays a stable, predicable stream of monthly income and, unlike traditional GICs, each equal monthly income payment may be comprised of interest and principal in an amount customized to your cash flow needs.
- Planning Flexibility– planning for the possibility of a 20 or 30 year retirement? Arranging for, and reassessing your financial needs in 5-year increments is a simple strategy with built-in flexibility.
- Customization– you determine the amount of income you'd like to receive from this investment each month, and the date on which you'd like to receive it. At maturity, you can choose to re-assess your income needs and change your monthly income stream.
- Security and Protection– your unpaid principal and interest are at all times unconditionally guaranteed by Bank of Montreal and eligible for C D I C deposit insurance up to allowable limits.
- Options– you can assign an alternate payee to receive the income payments, for those times when you are paying the regular expenses for someone else.
| Item | Details |
|---|---|
Term(s) : | 5 years |
Access to Funds : | Not cashable prior to maturity |
Interest Payment Option : | Monthly or paid at maturity |
Minimum Investment Amount : | $10,000 |
Plan Eligibility : | Non-registered |
Automatic Reinvestment : | Yes, to another 5- year B M O Income Generator with rates in effect at time of renewal and same income payment amount (unless other instructions provided). |
Issued By : | Bank of Montreal Mortgage Corporation (BMMC) |
Transferability : | Yes |
Available to Business Banking Client : | Yes |
Statements : | Annual Statement (January/February) |
Available to Non-Residents : | No |
Continuous Savings Plan Option : | No |
Guaranteed By : | Bank of Montreal |
Rates
With the BMO Income Generator, the interest rate is unique to every purchase, as it depends on your personal income needs.
Simply put, the interest rate depends on a combination of:
- The amount of your monthly income payment relative to the initial amount you invested, and
- Current interest rates
To assess how the BMO Income Generator can fit as a solution within your investment plan, come in and talk to one of our investment professionals at your BMO Bank of Montreal branch.
How to buy
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One of our investment advisors will get in touch to chat about how we can help.
schedule a callMeet with us
Book an appointment at your nearest branch to get pre-approved or to chat about your options.
Book an appointmentInterest is calculated daily, paid monthly or at maturity. The indicated interest rate subject to change at any time. The terms and conditions of this offer, including its overall availability, are at the sole and absolute discretion of B M O and are subject to change at any time without prior notice.
