BMO Alto CD Rates (2026): Up to 3.35% APY
Alto, the online brand of BMO Bank N.A. formerly called BMO Alto, suits savers who want a simple no-minimum, no-fee CD from a large bank. The one thing to know: its rates sit well below the leaders, and any term of 12 months or more carries a 180-day penalty. The top rate was 3.35% APY on the 60-month CD as of October 19, 2026, for new CDs; fixed once opened.
By Wealthy Pot Editorial · Facts checked October 19, 2026
Facts checked October 19, 2026 against BMO Alto's own CD rate page and deposit agreement (4 sources, listed below). We re-check prices about once a month. We do not earn a commission from BMO.
BMO Alto at a glance
| CD APYs | 6 months 2.50%, 12 months 3.00%, 24 months 3.10%, 36 months 3.15%, 48 months 3.25%, 60 months 3.35% (as of October 19, 2026; for new CDs; fixed once opened) [1] |
|---|---|
| Terms | Six fixed terms, 6 to 60 months [2] |
| Minimum deposit | $0; the CD must be funded within 10 calendar days or it is closed [3] |
| Early withdrawal penalty | Term of 11 months or less: 90 days' interest; 12 months or more: 180 days' interest [3] |
| Penalty waivers | Death of an owner, legal incompetence, or a withdrawal during the grace period [3] |
| First 15 days | You may not close the CD for any reason during the first 15 calendar days after funding [3] |
| Rate lock | The highest rate for your term between the day you open and the day you fund [3] |
| Interest | Compounded daily; credited on the last day of each month and at maturity [3] |
| Grace period | 10 calendar days starting on the maturity date; CDs renew for the same term at the then-current rate [3] |
| Fees | "Alto does not charge any fees!" [3] |
BMO Alto in official federal data
Rate compared with the national average
BMO Alto's 1-year CD APY of 3.00% (as of October 19, 2026) is about 1.7 times the FDIC's national average for 12-month CDs, 1.76% (as of October 19, 2026). On $10,000 kept for a year, that is about $300 in interest against $176 at the national average, before tax; a CD locks its rate for the term, while the national average is for CDs opened that month.
Who holds your money
- Deposits are held by BMO Bank National Association, FDIC certificate #16571, based in Chicago, IL, established May 17, 1947 according to the FDIC. BMO Alto is the online brand of BMO Bank N.A.
- FDIC insurance covers up to $250,000 per depositor, per insured bank, for each account ownership category. Money held at the same bank under another brand name counts toward the same limit.
- Size: $194 billion in deposits and $255 billion in total assets (June 30, 2026 call report). Primary federal regulator: Office of the Comptroller of the Currency.
Customer complaints filed with the CFPB
From October 2025 through September 2026, consumers sent the Consumer Financial Protection Bureau 824 complaints about checking or savings accounts at BMO BANK NATIONAL ASSOCIATION, about 4.24 per $1 billion of deposits; the company responded on time to 100%. Complaint counts grow with the number of customers and cover the whole company, including checking accounts, and the CFPB does not verify each complaint, so treat them as a rough signal. Read the complaints.
Sources: FDIC BankFind (certificate, deposits and assets), FDIC national deposit rates (October 19, 2026), CFPB Consumer Complaint Database (product "Checking or savings account"). Updated monthly.
How BMO Alto works
Alto is a trade name of BMO Bank N.A., and the brand is changing from "BMO Alto" to "Alto" with terms and account numbers unchanged. It offers six fixed-term online CDs and no specialty CDs: no no-penalty, bump-up, add-on or IRA versions. There is no minimum, but you must fund the CD within 10 calendar days of opening, and you get the highest rate for your term between opening and funding. The federal data section on this page compares these rates with the FDIC national averages.
The 12-month term is where the penalty steps up. A hypothetical: you open a $10,000 12-month CD at 3.00% APY and close it after 6 months. A 12-month term falls in the "12 months or more" band, so the penalty is 180 days of interest. Using the APY as a simple interest rate, that is $10,000 x 3.00% x 180 / 365 = $147.95. Six months of interest is about $10,000 x 3.00% x 6 / 12 = $150.00, so you would keep roughly $2.05. A 6-month CD would carry the 90-day penalty instead.
You cannot add money or take part of it out before maturity. At maturity the CD renews for the same term at the rate then in effect unless you act during the 10-day grace period. To compare terms, try our CD calculator or the CD ladder guide.
Pros
- No minimum deposit and no fees
- Rate lock: the highest rate between opening and funding
- Penalty waived on death, legal incompetence or a grace-period withdrawal
- Backed by BMO Bank N.A., a large national bank
Cons
- Rates of 2.50% to 3.35%, well below the leaders
- 180-day penalty from the 12-month term up
- Only six terms and no specialty CDs
- No closing a CD in the first 15 days after funding
Who BMO Alto fits, and who should skip it
A good fit if
- You want a no-minimum, no-fee CD from a large national bank.
- You already use BMO and want to keep your money with it.
- You value a rate lock between the day you open and the day you fund.
Look elsewhere if
- You want a higher rate on any term: Barclays paid 4.50% on 12 months and 4.75% on 5 years, also with no minimum.
- You want a no-penalty CD: Ally and Marcus offer one.
- You can deposit $1,500: Bread Savings paid 4.45% on 12 months.
Limitations to know
- No additional deposits or partial withdrawals are allowed until the maturity date. [3]
- A CD not funded within 10 calendar days of opening is closed automatically. [3]
- A joint account can have at most one other owner, and only if requested at opening. [4]
- The CD page offers help to customers affected by the federal government shutdown who need to close a CD early: call 1-855-266-8100. [2]
BMO Alto compared with alternatives
| Bank | 6-month | 1-year | 3-year | 5-year | Minimum |
|---|---|---|---|---|---|
| BMO Alto | 2.50% | 3.00% | 3.15% | 3.35% | $0 |
| Barclays | 4.00% | 4.50% | 4.50% | 4.75% | $0 |
| Capital One | 3.30% | 4.00% | 3.50% | 3.60% | $0 |
| Ally Bank | 3.85% | 4.30% | 4.10% | 4.25% | $0 |
| Synchrony Bank | 4.10% | 4.20% | 4.40% | 4.50% | $0 |
- Pick Barclays if you want much higher rates with no minimum.
- Pick Capital One if you want a big bank with no minimum and branch access.
- Pick Ally Bank if you want no minimum, low penalties and a no-penalty CD.
- Pick Synchrony Bank if you want no minimum and strong rates at every term.
Security and privacy
- CDs are deposits of BMO Bank N.A., Member FDIC; Alto is a trade name, not a separate bank. [3]
- Deposits made through Alto and in other U.S. accounts under the BMO brand are not separately insured: they are added together toward one $250,000 per depositor, per bank, per ownership category limit. [3]
Recent changes
| Date | What changed |
|---|---|
| Oct 19, 2026 | Rates higher than our September snapshot: 12 months 2.50% to 3.00%, 36 months 2.80% to 3.15%, 60 months 3.00% to 3.35%; 6 months unchanged at 2.50%; 24 and 48 month terms now listed. [1] |
| Mar 2026 | Online CD deposit account disclosure revised. [3] |
BMO Alto FAQ
What is the penalty for withdrawing a BMO Alto CD early?
For a term of 11 months or less, 90 days' interest; for 12 months or more, 180 days' interest. The penalty can reduce principal, and it is waived on an owner's death, legal incompetence or a withdrawal during the grace period.
What are BMO Alto CD rates today?
As of October 19, 2026: 2.50% APY for 6 months, 3.00% for 12 months, 3.10% for 24 months, 3.15% for 36 months, 3.25% for 48 months and 3.35% for 60 months. Rates are for new CDs and fixed once opened.
Does BMO Alto have a minimum deposit?
No. There is no minimum to open, but you must fund the CD within 10 calendar days or it is closed.
Is BMO Alto FDIC insured?
Yes, through BMO Bank N.A., Member FDIC. Alto deposits are combined with any other BMO accounts you hold for the $250,000 per depositor, per ownership category limit.
Is BMO Alto now called Alto?
Yes. BMO is changing the brand from BMO Alto to Alto; the terms of your CD and your account number stay the same.
How we researched this review
We did not get paid for this page. On October 19, 2026 we read BMO Alto's own CD rate page, deposit account agreement and disclosures, quoted each fact and link every one below. FDIC and CFPB figures come straight from the agencies' public data. Penalty examples are our arithmetic on the bank's stated formula. CD rates for new accounts change often; we re-check them about once a month.
Sources
- Alto, CD rate feed used by its CD page, checked October 19, 2026.
- Alto, CD page script with the page text, checked October 19, 2026.
- Alto, Online CD deposit account disclosure (March 2026), checked October 19, 2026.
- Alto, Deposit account and online banking agreement, checked October 19, 2026.
This review is for general information, not financial advice. CD rates for new accounts change often; the rate is fixed only once you open the CD. Confirm the current rate with the bank.