News Releases

TORONTO, July 30, 2010 – BMO Bank of Montreal announced today that its market leading AgriInvest Savings Account rate will increase to 1.10 per cent from 1.00 per cent.

Launched earlier this month, the AgriInvest Savings Account provides agricultural customers the opportunity to double their savings by generating matching government funds for every allowable contribution they make to the account.

"An AgriInvest account with BMO is one of the simplest tools Canadian farmers can use to prepare for the ups and downs that their businesses experience," said David Rinneard, National Manager, Agriculture, BMO Bank of Montreal. "With the highest interest rate, which is in most cases more than double what is available in the market, farmers can build savings and are in a better position to weather cyclical pressures on margins and cash flows," added Rinneard.

In addition to providing these valuable savings tools, earlier this week, BMO reinforced its long-standing commitment to commercial farming customers with the launch of a Financial Flood Relief Program. The program is designed to help alleviate the difficulties being faced by Prairie farmers affected by the extensive damage.