bank rates

BMO Harris Bank: 60-Month CD Is Best

You’ll have to go long to find an above-average CD rate at BMO Harris Bank.

With a $1,000 minimum deposit, its 60-month CD pays 1.10% APY — just over a tenth of a percentage point more than the average annual yield large banks and thrifts offer for this term.

Now, that’s not close to the 1.86% APY that term’s leader pays on our CD Rates Leaderboard.

But it’s better than we’re seeing at other big banks these days.

BMO Harris Bank isn’t really the new kid on the block – even if its name doesn’t ring a bell.

It earned its name after parent company BMO Financial Group, which has owned Chicago-based Harris Bank since 1984, acquired Wisconsin-based M&I Bank in 2011.

The merged banks were rebranded BMO Harris. (It’s pronounced, “bee-mow,” by the way.)

BMO Harris Bank has more than 650 branches in Illinois, Indiana, Arizona, Missouri, Minnesota, Kansas, Nevada, Florida and Wisconsin.

Like most big banks, BMO Harris Bank asks you to type in your ZIP code on the website to find rates specific to your geographic area. For this post, I checked ZIP codes in California, Florida, Illinois, Michigan and New York, and this is what I found:

3-month CD rate is 0.05% APY versus an average rate of 0.13% APY. (Leaderboard leader is 0.65% APY.)

6-month CD rate is 0.10% APY versus an average rate of 0.19% APY. (Leaderboard leader is 0.92% APY.)

12-month CD rate is 0.25% APY versus an average rate of 0.30% APY. (Leaderboard leader is 1.11% APY.)

24-month CD rate is 0.40% APY versus an average rate of 0.48% APY. (Leaderboard leader is 1.30% APY.)

36-month CD rate is 0.60% APY versus an average rate of 0.61% APY. (Leaderboard leader is 1.42% APY.)

You can learn more about BMO Harris Bank at or call 888-340-2265.

There are definitely better deals out there, and you’ll find them if you compare BMO Harris Bank’s returns with the best CD rates from scores of other banks in our extensive database.

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Comments (1)
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One Existing Comment
  1. SeniorSaver said:
    on September 22nd at 08:25 am

    BMO Harris shows up from time to time offering extra-long-term brokered CDs. Right now, it’s selling a 12-year brokered CD , with a coupon of 2% for seven years, which steps up thereafter, producing a yield-to-maturity of 2.446%. Call protection is only six months, however, which is hardly generous.