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BMO CD Rates for 2024

Review Updated
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BMO Bank, formerly BMO Harris, offers several options for those interested in opening a certificate of deposit (CD). However, there is a vast difference between those options. Here, we'll let you know what BMO Bank has to offer in the way of CDs, and help you decide whether it's the right choice for you.

BMO Bank CD rates for 2024

BMO Bank

BMO Bank
  • 6 APY: 0.05%
  • 12 APY: 2.00%
  • 18 APY: 1.70%
  • 24 APY: 1.50%
  • 36 APY: 1.40%
  • 48 APY: 1.35%
  • 60 APY: 1.35%
Show All Rates [+] Hide All Rates [-]
Rates as of Dec. 18, 2024

APY = Annual Percentage Yield

Term
BMO Bank
6 Mo.
1 Yr.
1.5 Yr.
2 Yr.
3 Yr.
4 Yr.
5 Yr.
0.05%
2.00%
1.70%
1.50%
1.40%
1.35%
1.35%

Is a high-yield savings account a better option for you?

A high-interest savings account offers rates competitive with the best CDs accounts, but without having to lock your money away for months or even years at a time. Here are some top-rated high-yield savings account options from our experts.

Account APY Promotion Next Steps
3.80%
Rate info Circle with letter I in it. 3.80% annual percentage yield as of December 28, 2024. Terms apply.
Min. to earn: $0
N/A
Open Account for American Express® High Yield Savings

On American Express's Secure Website.

up to 4.00%²
Rate info Circle with letter I in it. You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
3.80%
Rate info Circle with letter I in it. See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
N/A

BMO CD Specials

BMO CD Specials
  • 13 APY: 4.00%
  • 25 APY: 3.75%
  • 35 APY: 3.75%
  • 45 APY: 3.80%
  • 59 APY: 3.90%
Show All Rates [+] Hide All Rates [-]
Rates as of Dec. 18, 2024

APY = Annual Percentage Yield

Term
BMO CD Specials
13 Mo.
25 Mo.
35 Mo.
45 Mo.
59 Mo.
4.00%
3.75%
3.75%
3.80%
3.90%

Compare BMO CD rates

If what you're looking for is a CD with rates competitive to some of the best CD rates on the market, compare a few CDs from other banks below. Each of these financial institutions are FDIC insured. This means that accounts are protected for up to $250,000, per depositor.

Rates as of Dec. 18, 2024
Bank & CD Offer APY Term Min. Deposit Next Steps
APY: 4.00% Term: 1 Year Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Member FDIC.
APY: 4.25% Term: 10 Months Min. Deposit:  $2,500
Open Account for

On Secure Website.

Member FDIC.
APY: 4.25% Term: 6 Months Min. Deposit:  $500
Open Account for

On Secure Website.

BMO Bank CD review

If you're saving for something special or planning for retirement, the guaranteed interest associated with a CD is attractive. Not all CDs are created equal, though. Here's a peek at the pros and cons of the two BMO CDs we've touched on.

BMO Bank

PROS

  • Three- to 60-month terms offered
  • No account set-up or maintenance fees

CONS

  • Low APYs
  • Branches available in only nine states
  • Other BMO CDs offer better rates
Rates as of Dec. 18, 2024

APY = Annual Percentage Yield

Offer image for BMO Bank
BMO Bank
Bottom Line

Accounts are subject to approval. BMO Bank N.A.  Member FDIC

MINIMUM DEPOSIT $1,000
Read Review
6 Mo. APY 1 Yr. APY 1.5 Yr. APY 2 Yr. APY 3 Yr. APY 4 Yr. APY 5 Yr. APY
0.05% 2.00% 1.70% 1.50% 1.40% 1.35% 1.35%

BMO CD Specials

PROS

  • High interest rates
  • No account set-up or maintenance fees

CONS

  • Fewer terms to choose from that some of its competitors
  • Limited number of physical branches for those who prefer to bank in person
  • $1,000 minimum deposit could shut out smaller investors

Who is a BMO CD right for?

BMO CDs, particularly the CD Specials, are right for those who want to earn high interest without risking their principal.

Rates as of Dec. 18, 2024

APY = Annual Percentage Yield

Offer image for BMO CD Specials
BMO CD Specials
Bottom Line

Accounts are subject to approval. BMO Bank N.A.  Member FDIC

MINIMUM DEPOSIT $1,000
Read Review
13 Mo. APY 25 Mo. APY 35 Mo. APY 45 Mo. APY 59 Mo. APY
4.00% 3.75% 3.75% 3.80% 3.90%

For each type of CD, the early withdrawal penalty can eat away or eliminate earnings. It's important to consider whether you can afford to leave your money for the entire term. Like any other investment, it pays to be disciplined in your approach.

Keep reading about BMO:

Our CDs methodology

At Motley Fool Money, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.

Learn more about how Motley Fool Money rates bank accounts.

FAQs

  • If you're looking for a high APY, there's no question that CD Specials are your best option compared to BMO's Standard CD rates.

  • BMO is FDIC insured. That means that your funds are protected for up to $250,000.