The product Money Market Account from Bank of Montreal Harris with 2.63% APY and $250,000 minimum deposit and a tax rate of 30 compounded annually, with an initial amount of $20,000, after 10 years would have grown your savings to approximately $25,928. The interest earned would be $5,928 and the tax amount on the interest earned would be approximately $1,778.
Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.
This analysis is for demonstrative purposes only and may change should certain assumptions prove incorrect. Savings rates may change and CD rates may not be renewable for the length of the term of the analysis. The difference between the bank rate entered and the average rate may not remain constant throughout the term.
| Rate: 0.23% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 45 | 32 |
| 2 | 20,045 | 45 | 32 |
| 3 | 20,091 | 45 | 32 |
| 4 | 20,136 | 46 | 32 |
| 5 | 20,181 | 46 | 32 |
| 6 | 20,227 | 46 | 32 |
| 7 | 20,273 | 46 | 32 |
| 8 | 20,319 | 46 | 32 |
| 9 | 20,364 | 46 | 32 |
| 10 | 20,410 | 46 | 32 |
| TOTAL: | $457 | $320 |
| Rate: 2.63% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 526 | 368 |
| 2 | 20,526 | 540 | 378 |
| 3 | 21,066 | 554 | 388 |
| 4 | 21,620 | 569 | 398 |
| 5 | 22,188 | 584 | 408 |
| 6 | 22,772 | 599 | 419 |
| 7 | 23,371 | 615 | 430 |
| 8 | 23,986 | 631 | 442 |
| 9 | 24,616 | 647 | 453 |
| 10 | 25,264 | 664 | 465 |
| TOTAL: | $5,928 | $4,150 |
The accounts below offer some of the best rates in the country can be opened online, and are available nationally. As the calculator shows, changing accounts to earn a higher interest rate can really add up over time.
| Date | APY |
|---|---|
| November 18, 2025 | 2.63% |
| October 13, 2025 | 2.78% |
| September 16, 2025 | 2.68% |
| August 7, 2024 | 3.56% |
| August 20, 2023 | 1.50% |
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
4.25% |
$25,000 |
Learn More | |
|
Last change: ↓0.16% on September 18. |
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|
|
4.20% |
$1,000 |
Learn More | |
|
Last change: ↑0.05% on December 1. |
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|
|
4.15% |
$1,500 |
Learn More | |
|
Last change: ↓0.05% on December 1. |
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|
|
4.15% |
$1,000 |
Learn More | |
|
Last change: ↑0.10% on December 1. |
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|
|
4.10% |
$25,000 |
Learn More | |
|
Last change: ↓0.15% on November 26. |
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Customer Reviews for Bank of Montreal Harris
GAM
July 28, 2020 |
Dropped rates again with restrictive transfer limits and poor service. Better rates and liquidity elsewhere. Beware!!!
Is this review helpful? Yes:6 / No: 0
JimboR
July 17, 2020 |
BMO Harris is not ready for prime time. This account is impossible to open online and impossible to reach a human. When I got a rep, she wanted didn't know that it was available in NY (and started explaining that it isn't available in Chicago). Take a pass.
Is this review helpful? Yes:8 / No: 0
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