Current BMO CD Rates

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If you would prefer to manage bank accounts at BMO Harris Bank branches, the bank has standard CDs and special CDs. If you’re comfortable with an online-only banking experience, though, BMO Financial Group also has an online-only division called BMO Alto. BMO Alto has a standout 12-month term paying 5.25% APY.

BMO CD Rates

BMO Harris CD Rates

BMO Harris standard CDs pay low interest rates, while the special CDs are good overall. Special CDs are only available for a limited time, though. 

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 Chicago, Illinois: 

BMO Alto CD Rates

BMO Alto Online Certificates of Deposit are more competitive than BMO Harris Standard CDs, and even some Special CDs.

BMO Alto CDs have a $0 minimum opening deposit. These accounts are available online-only through the BMO Alto website, which means you won’t be able to go to a BMO branch for support. Instead, you must call BMO Alto customer support. Another thing to keep in mind is that BMO Alto doesn’t have a mobile app. 

BMO CD Rates Pros and Cons

How BMO CD Rates Compare

BMO CD Rates vs. Chase CD Rates

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 6-month CD if you qualify for a relationship rate. However, BMO may be a good choice if you are interested in one of the BMO Harris CD specials or a BMO Alto CD.

BMO CD Rates vs. Wells Fargo CD Rates

If you’re strictly searching for the highest CD rates, you’ll likely prefer BMO Harris over Wells Fargo. When comparing the two banks, BMO Harris CD specials,and BMO Alto CDs 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 $2,500.

Why You Should Trust Us: How We Reviewed BMO CDs

We used Insider’s certificate of deposit methodology to review BMO Harris and BMO Alto CDs. We look at interest rates, minimum opening deposits, early withdrawal penalties, CD term variety, ethics, customer support, and the mobile app. We use a scale of 0 to 5 for each category, then average the scores together to calculate the CDs’ overall rating.