BMO Harris CD Review: BMO Harris CD Rates
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BMO Harris CD Rates
BMO Harris has two CD options: standard CDs and special CDs. The primary difference between the two accounts is that special CDs have more competitive interest rates than the bank's standard ones — but they may only be available for a limited time.
BMO Harris CD rates may vary by region and minimum deposit. You'll need at least $1,000 to open an account.
The following chart shows the current rates for Standard CDs if you live in a state that has a BMO Branch (with the exception of Florida). BMO Harris has branches in Arizona, Illinois, Indiana, Kansas, Minnesota, Missouri, Wisconsin, and Florida.
| Term | APY (Annual Percentage Yield) |
| 1 month ($100,000 minimum balance) | 0.05% |
| 2 months ($100,000 minimum balance) | 0.05% |
| 3 months | 0.05% |
| 6 months | 0.05% |
| 9 months | 0.05% |
| 12 months | 0.05% |
| 13 months (CD special) | 4.30% |
| 18 months | 0.05% |
| 24 months | 0.05% |
| 25 months (CD special) | 4.30% |
| 30 months | 0.05% |
| 35 months (CD special) | 4.30% |
| 36 months | 0.10% |
| 45 months (CD special) | 4.40% |
| 48 months | 0.15% |
| 59 months (CD special) | 4.50% |
| 60 months | 0.25% |
And here are the CD rates if you live in Florida or a state that doesn't have a branch.
| Term | APY |
| 1 month ($100,000 minimum balance) | 0.05% |
| 2 months ($100,000 minimum balance) | 0.10% |
| 3 months | 0.05% |
| 6 months | 0.20% |
| 9 months | 3.50% |
| 12 months | 5.10% |
| 13 months (CD special) | 5.10% |
| 18 months | 4.30% |
| 24 months | 4.30% |
| 25 months (CD special) | 4.30% |
| 30 months | 4.30% |
| 35 months (CD special) | 4.30% |
| 36 months | 4.30% |
| 45 months (CD special) | 4.40% |
| 48 months | 4.40% |
| 59 months (CD special) | 4.50% |
| 60 months | 4.50% |
BMO Harris CDs
BMO Harris could be a good choice if you want a variety of CD terms to choose from. The bank also offers a couple of CD specials, ranging from 13 months to 59 months.
Be mindful of early withdrawal penalties. The penalty for certain terms is pretty steep compared to other banks.
Are BMO Harris CDs Worth It?
BMO Harris might be worth considering if you are looking for a CD special. The bank has a couple of promotional terms with competitive interest rates. Just keep in mind that after the term ends, the CD special will renew to the relevant standard term. For example, if you open a 13-month CD special, it will renew to a 1-year standard term.
You also might like BMO Harris Standard CDs if you live in Florida or a state that doesn't have a branch — the rates for some long-term CDs are more competitive than in states that have a BMO branch.
You'll prefer another financial institution if you are searching for a high interest rate on a short-term CD. You also might consider other banks if you would like to open a CD with a low minimum opening deposit. Some banks let you open a account with less than $1,000 upfront.
BMO Harris CDs vs. Chase CD - Product Name Only
If you're comparing interest rates on CDs, your choice will largely depend on the term you choose and where you live.
BMO Harris CDs have different rates depending on which state you live in. Chase offers standard rates and relationship rates. You'll qualify for a higher relationship rate if you have a Chase checking account.
Chase has a solid 3-month CD if you qualify for a relationship rate. However, BMO Harris may be a good choice if you are interested in one of the CD specials (which pay more than the average CD regardless of where you live).
BMO Harris CDs vs. Wells Fargo Standard Fixed Rate CD - Product Name Only
If you're strictly searching for the best CD rates, you'll likely prefer BMO Harris over Wells Fargo. When comparing the two banks, BMO Harris CD specials have the most competitive interest rates.
BMO Harris also may be a better option if you'd like a low minimum opening deposit. The bank lets you open an account with $1,000, while at Wells Fargo, you need at least
BMO Harris CDs: Frequently Asked Questions
What are the early withdrawal penalties for a BMO Harris CD?
Here's an overview of how the early withdrawal penalties work at BMO Harris:
For a 1-month term, the penalty is all interest earned.
For terms between two months and 11 months, the penalty is 90 days of interest.
For terms between 12 months and 23 months, the penalty is 180 days of interest.
For terms between 24 months and 35 months, the penalty is 270 days of interest.
For terms between 36 months and 47 months, the penalty is 365 days of interest.
For terms of 48 months or longer, the penalty is 545 days of interest.
Are BMO Harris CDs FDIC-insured?
Yes. BMO Harris CDs are FDIC-insured for up to $250,000 per depositor.