bank rates

Go Long-Term On CD Rates At M&I Bank

This Wisconsin-based bank's best rates at on 45- and 60-month CDsThink long term when it comes to CD rates at M&I Bank.

The bank, long headquartered in Milwaukee and the largest bank in Wisconsin, recently was acquired by Canadian BMO Financial Group. It pays the most for its 45-month CD special and 60-month CDs.

M&I Bank’s 60-month CD rates range from 1.20% APY to 1.40% with a $1,000 minimum deposit; the 45-month CD special, 1.20% APY to 1.25% APY with a $5,000 minimum deposit.

Now, these rates aren’t fantastic, by any means.

But they either beat, or just beat, the current average annual yield that large banks and thrifts are offering for 60-month CDs, which is 1.22% APY this week.

You can, of course, earn significantly more from the 60-month term leader on our CD Rates Leaderboard.

Both First Internet Bank of Indiana and Quaint Oak Bank lead the 60-month term with an offering of 2.20% APY.

Rates vary across the regions M&I Bank serves in Arizona, Florida, Indiana, Minnesota, Missouri, Nevada and Wisconsin, and I just punched in ZIP codes for major cities in each of those states on the M&I website (

You should do the same to make sure you have the exact rates for your geographic area, or that certificates of deposit are even available to you. (In this case, if you’re out of the bank’s footprint, or in Nevada, they’re not.)

While BMO Financial Group is in the process of combining M&I Bank with Harris Bank, and forming BMO Harris Bank, this won’t affect CDs you purchase at M&I Bank — although the M&I Bank name is not long for this world.

There are definitely better deals out there, and you’ll find them if you compare M&I 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. Earl said:
    on October 17th at 10:25 pm

    Anyone who accepts 1.2 to 1.4 percent for a 60 month CD is just plain pathetic, But, it happens all the time, especially with older people who don’t want to mess with the hassle of going to the bank to move it or to go online.