BMO Harris Bank, based out of Chicago, Illinois, currently offers consumers nationwide 10 regular term CDs (certificates of deposit) with durations ranging from 3 months to 5 years.
They also have 5 “CD Specials” with oddball maturities like 13, 25, 35, 45, and 59 months. These CDs come with higher rates and APYs (annual percentage yields) than their standard term CDs.
Although BMO Harris Bank has branch locations in just 9 states (Arizona, California, Florida, Illinois, Indiana, Kansas, Missouri, Minnesota, and Wisconsin) their CDs can be opened online by anyone 18 years or older.
BMO Harris is member FDIC and all deposit accounts are federally insured up to the applicable limits.
🔎 Important: BMO Harris Bank’s CD rates vary by location. To give you an idea of this range we are showing BMO Harris Bank’s CD rates for consumers in California and Missouri. See more details below.
BMO Harris CD Rates + Account Details
Depending on which state you live in, BMO Harris will either offer you competitive rates or not-so competitive rates on certificates of deposit.
Below are their CD Specials. There are 5 terms to choose from – all come with a minimum deposit of $5,000.
The first set of rates were pulled from a Los Angeles, California location and the second set of rates were pulled from a St. Louis, Missouri location.
CD Specials (California Rates)
| Term | APY |
| 13 months | 5.10% |
| 25 months | 4.30% |
| 35 months | 4.30% |
| 45 months | 4.40% |
| 59 months | 4.50% |
To put these offers in perspective, the current national average for a 12 month CD and a 60 month CD sit at just 1.49% and 1.35%, respectively, according to recent FDIC data.
CD Specials (Missouri Rates)
| Term | APY |
| 13 months | 4.30% |
| 25 months | 4.30% |
| 35 months | 4.30% |
| 45 months | 4.40% |
| 59 months | 4.50% |
Rates are accurate as of April, 2023. You can visit their CD page and try your own zip code to see where your rates will land. CDs can also be opened from their website.
Standard CD Rates (California Rates)
As with their CD specials, standard CD rates by BMO Harris Bank vary quite widely as well by state. Regardless of your location, however, standard CDs only require a minimum deposit of $1,000.
| Term | APY |
| 3 months | 0.05% |
| 6 months | 0.20% |
| 9 months | 3.50% |
| 12 months | 5.10% |
| 18 months | 4.30% |
| 24 months | 4.30% |
| 30 months | 4.30% |
| 36 months | 4.30% |
| 48 months | 4.40% |
| 60 months | 4.50% |
Standard CD Rates (Missouri Rates)
As with their CD specials, standard CD rates by BMO Harris Bank vary quite widely as well by state. Regardless of your location, however, standard CDs only require a minimum deposit of $1,000.
| Term | APY |
| 3 months | 0.05% |
| 6 months | 0.05% |
| 9 months | 0.05% |
| 12 months | 0.05% |
| 18 months | 0.05% |
| 24 months | 0.05% |
| 30 months | 0.05% |
| 36 months | 0.10% |
| 48 months | 0.15% |
| 60 months | 0.25% |
Add-On CDs
None available as of April 2023, but this is a product they sometimes have.
With Add-On CDs, additional deposits may be made into your BMO Harris CD during the term of the CD and during the grace period.
These additional deposits may be transferred through another BMO Harris deposit account, mobile banking, telephone banking, a transfer request at a branch, and when you sign into your online banking account. There is a maximum deposit limit of $100,000 (excluding interest).
Grace Period
BMO Harris Bank has a 10 calendar day grace period after maturity for both CD specials and standard term CDs. During this time you may add or withdraw any or all funds without facing a penalty. If you need to withdraw funds prior to your CD’s maturity, you will face early withdrawal fees.
If nothing is done during this 10 day grace period, your CD will renew into a new deposit with the going rate and APY at that time.
Early Withdrawal Penalties
Early withdrawal penalties are fairly straight forward and will not affect your principal, just interest accrued. They are as follows:
| CD Term | Fee |
| 3 months – 364 days | 90 days’ interest |
| 365 days or more | 180 days’ interest |
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