Do you want to see a complete review of the BMO certificate of deposit? From Responsible Economy we have carried out an analysis of all its features: interest rate, terms, fees and everything you need to know. You will also be able to see a comparison of the best certificates of deposit in the United States in 2023 and an explanatory video. Welcome!
Explicative video
We have made a video summarizing in a very simple way all the features of the BMO Certificate of deposit. If you like our content, don’t hesitate to support us with a subscription and thus receive videos every day:
Features
In this section we show you in detail each of the characteristics:
Interest rate
The interest rate of the certificates of deposit varies according to the terms chosen. Here is a table with the different terms and interest rates:
| Terms | Yields |
|---|---|
| 12 months | 5.10% APY |
| 24 months | 4.50% APY |
| 36 months | 4.30% APY |
BMO offers a competitive certificate of deposit because you can get an interest rate of 5.10% APY
Fees
Always look at the annual or monthly maintenance fees. This certificate of deposit has no maintenance fees and is free to open.
Minimum deposit
This certificate of deposit requires a minimum of $1,000.
Best certificate of deposit in 2023
We have made a ranking with the best certificates of deposit that we can open in the United States in 2023:
- 5% APY
- Minimum deposit: $0
- Term: 11 months
- Member FDIC
- 4,40% APY
- Minimum deposit: $5000
- Term: 12 months
- Member FDIC
- 4,65% APY
- Minimum deposit: $1000
- Term: 13 months
- Member FDIC
- 4,60% APY
- Minimum deposit: $0
- Term: 14 months
- Member FDIC
- 4,60% APY
- Minimum deposit: $1000
- Term: 12 months
- Member FDIC
- 4,55% APY
- Minimum deposit: $1000
- Term: 12 months
- Member FDIC
- 4,50% APY
- Minimum deposit: $0
- Term: 12 months
- Member FDIC
- 4,50% APY
- Minimum deposit: $1000
- Term: 12 months
- Member FDIC
Pros and cons
After seeing all the features of the BMO certificate of deposit and which are the best CDs in the United States, we have made a table with all the advantages and disadvantages:
| Pros | Cons |
|---|---|
| No fees | Minimum deposit $1,000 |
| 5.10% APY | |
Requirements
To open this certificate of deposit you must meet the following requirements:
- Live in the United States
- Must be over 18 years old
- Have a Social Security
- American account number
Conclusion
After our review, our conclusion is that BMO offers a competitive certificate of deposit because you can get up to an interest rate of up to 5.10% APY, it has no commissions and you can request a term of up to 60 months. On the other hand, the minimum deposit is $1,000.
Frequent questions
Now we answer all the questions you may have about the BMO certificate of deposit:
More information about BMO
Here is a table with information of interest about BMO:
| Information | Description |
|---|---|
| Website | https://www.bmo.com/ |
| https://twitter.com/BMO_US | |
| https://www.facebook.com/bmoUSA | |
| YouTube | https://www.youtube.com/@bmoUS |
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Updated the day 12 May, 2023 by Alfredo Barandiarán
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