savings

BMO Up to $60

Savings Builder

BMO Savings Builder pays $5 in any month your balance grows by $200, up to $60 in the first year. No direct deposit.

Exact requirements

1. Open a new Savings Builder account. An account switched into Savings Builder from another product does not qualify.
2. One Savings Builder reward account per customer, and only the first one opened.
3. Each month the ledger balance grows by at least $200, comparing the last business day of the month with the prior one, BMO credits $5 within 5 calendar days after month-end.
4. Interest and the reward itself do not count as growth. Up to 12 rewards, starting the month you open.
5. The account must be open when the reward is paid.

Bonus

Up to $60

Direct deposit

Direct deposit is not required.

Deposit

$25 to open. Grow the ledger balance by at least $200 in a month to earn $5. Up to 12 months.

Keep the account open

Keep the account open through each reward payment. No early-closure fee is stated.

When the bonus posts

Within 5 calendar days after the end of a qualifying month.

Expiration

Not stated as a campaign end date. The rewards run for up to 12 months from opening.

Monthly fee

$0 monthly maintenance fee.

How to waive it

No monthly fee is listed for Savings Builder on the offer page.

Early closure

Not stated.

Credit pull or ChexSystems

not stated

Where it is offered

Availability not stated. Published on BMO's select-state checking offer page. The savings-rewards footnote does not repeat the state list.

Last verified

November 15, 2026

Fine print

Not available if you opened a savings account between February 3, 2020 and October 18, 2021 and took part in an earlier savings-rewards offer. Verified November 15, 2026.

Source checked November 15, 2026: https://www.bmo.com/en-us/main/personal/checking-accounts/digital-offer/