What is the BMO Smart Saver account?
David Craig
Updated on April 02, 2026
The BMO Smart Saver Account is one of the savings accounts offered by the Bank of Montreal. It has a base interest rate of 0.05% and no monthly fees. The account also has no debit card, and no Interac e-Transfers are allowed.
What is the interest rate on a BMO Smart Saver account?
0.050%
| Smart Saver *26 | |
|---|---|
| Interest Rate | 0.050% Interest rate *12 $0 Monthly savings requirement |
| Monthly savings requirement | $0 |
| Number of Transactions per month | Includes one free transfer out of the account to another BMO account *23 |
| Maximum number of accounts | Unlimited |
How do I get my BMO from 300?
Take action to get a $300 bonus We’ll reward you for doing two of the following: set up a recurring direct deposit, make an eligible online bill payment of at least $50, or set up an eligible pre-authorized debit of at least $50.
What is a bonus saver account?
A bonus saver account (or a bonus interest savings account) is a savings account that rewards you with extra interest when you meet the account conditions. These can also be known as incentive saver accounts or reward saver accounts as they incentivise you to save, and reward you with bonus interest.
Is BMO Smart Saver account good?
Expert review The BMO Smart Saver Account may be a good fit for customers who want to earn interest on their savings. It comes with zero monthly fees and one free transfer out of your account each month. Beyond that, you’ll need to pay $5 for every additional withdrawal or transfer you make.
Is a BMO Smart Saver account tax free?
Withdrawals do not affect eligibility for federal government benefits. The Tax-Free Savings Account (TFSA) is a savings plan that allows Canadians to invest and earn tax-free returns. Whatever income (interest, dividends, and capital gains) you earn in your BMO® TFSA is tax-free for life.
What banks offer bonus?
Best checking account bonuses
- Citibank: up to $1,500 bonus.
- PNC Bank: up to $300 bonus.
- TD Bank: $150 or $300 bonus.
- M Bank: up to $250 bonus.
- Chase Bank: $225 bonus; $100 bonus for college students.
- Huntington National Bank: up to $300 bonus.
- Bank of America: $100 bonus.
What is CM cash bonus?
A cash bonus refers to a lump sum of money awarded to an employee, either occasionally or periodically, for good performance. It is paid in addition to one’s base pay or salary.
Which bank account is best for salary account?
Top 5 Salary Accounts in India, 2020
- Kotak Platina Salary Account.
- SBI Corporate Salary Package.
- HDFC Bank Classic Salary Account.
- Citibank Suvidha Salary Account.
- Axis Bank Prime Salary Account.
What is smart pay savings account?
Dhanlaxmi Bank offers the Smart Salary Savings Account for employees with salary deposit, providing them free banking services, coupled with secure and convenient features. The account can also be opened by employers. The account can also be opened in a minor’s name. …
What is a super saver account?
The Super Savings Account is the upgraded version of a regular savings account. The account also offers a free ATM + debit card, giving customers the flexibility of instant withdrawal from an ATM, shopping in partner retail outlets and online, and easy redemption.
Can I open a TFSA online?
To open an account, make sure: This TFSA is for your personal use and you’re 18 years or older. You have your Social Insurance Number on hand. You have a CIBC Personal Account to use for your first contribution; if not, you can apply for an account online or open a TFSA by booking a meeting with us.
How does the BMO Smart Saver bonus rate promotion work?
From November 1, 2020 to March 31, 2021 (the “Promotion Period”), earn bonus interest for a total rate of 1.25%1(the “Bonus Rate”) for every dollar you deposit into a Smart Saver Account (the “ Bonus Rate Promotion”) at any BMO branch or online at bmo.com. Bonus Rate Promotion
How do I earn the $350 BMO bonus?
Open your account online between July 5, 2021 and October 31, 2021 and complete the steps listed below by December 31, 2021 to earn your bonus. It’s that easy, we promise. Earn up to $350 in three easy steps! 1. Open a new BMO Performance or Premium Chequing Account and make a deposit of any amount by October 31, 2021.
Is the Smart Saver account right for You?
No matter what’s on your list, the Smart Saver Account is perfect for anyone with long-term savings goals. Make the most out of every dollar with a great interest rate, regardless of your balance*12.
How do I get $300 in my BMO performance account?
Open a new BMO Performance or Premium Chequing Account and make a deposit of any amount by October 31, 2021. 2. To get $300, complete at least two of the following actions (from the lead account **) for at least two consecutive months by December 31, 2021 : Set up an eligible recurring direct deposit
