Terms and Conditions for Savings Amplifier Account (“Savings Account”)


Earn 5.50% total promotional interest rate (“Total Promotional Rate”) until February 29, 2024, on your balance, up to $1,000,000 in the Qualifying Savings Account (defined below). Balances over $1,000,000 will earn the Bank’s posted interest rate.

The Promotional Interest Rate Offer (“Offer”) begins on August 1, 2023, and ends on February 29, 2024 (“Offer Period”). The Offer is only available to eligible customers who start an application for a BMO Fixed or Variable Rate Closed Term mortgage or Homeowner ReadiLine® (instalment) and open a new Savings Amplifier Account during the Offer period (“Qualifying Savings Account”). The Offer is available on your balance in the Qualifying Savings Account during the Offer Period.

Interest Calculation:
The Qualifying Savings Account will earn the Total Promotional Rate of 5.50% until February 29, 2024, The Total Promotional Rate calculation is comprised of the Bank’s posted interest rate (1.9%) plus a promotional interest rate (3.60%).

After the Offer Period ends, the Qualifying Savings Account will earn interest at the posted rate. Interest rates are available online at bmo.com/rates. For Qualifying Savings Accounts the Total Promotional Rate is earned on the full daily closing balance up to a balance limit of $1,000,000. All interest related to this offer is calculated on the daily account closing balance and paid monthly on the last business day of the month. All interest rates are calculated per annum.

The promotional interest rate and the Bank’s posted interest rate may change any time without advance notice.

General:
This offer is non-transferable and available only to the eligible customers. This is a personalized Offer, and the Total Promotional Rate may not be the same for each customer who receives an Offer. A limit of one offer per customer is available. Joint account or multiple account ownership is permitted, but only the lead account holder who is receiving the offer can accept the promotional rate. We may change the Offer and Terms and Conditions at any time without notice. Customers who have accepted the offer will be provided advance notice if the offer is withdrawn prior to the Offer Period end date. We reserve the right, at our sole discretion, to suspend, disqualify, limit, or revoke the offer to any account holder found to have manipulated or abused the promotional interest offer, its fairness, integrity, or operation. To the extent that these Terms and Conditions are inconsistent with any other communication, advertisement or statement from the Bank, these Terms and Conditions will supersede all other Messages.