BMO certificate of deposit review

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:

YouTube video
BMO certificate of deposit

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:

TermsYields
12 months5.10% APY
24 months4.50% APY
36 months4.30% APY
Terms and yields
BMO certificate of deposit terms and yields

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:

Logo capital One CDs
  • 5% APY
  • Minimum deposit: $0
  • Term: 11 months
  • Member FDIC
Marcus by Goldman Sachs
  • 4,40% APY
  • Minimum deposit: $5000
  • Term: 12 months
  • Member FDIC
CIT Bank Logo
  • 4,65% APY
  • Minimum deposit: $1000
  • Term: 13 months
  • Member FDIC
synchrony-bank-logo
  • 4,60% APY
  • Minimum deposit: $0
  • Term: 14 months
  • Member FDIC
Alliant Logo
  • 4,60% APY
  • Minimum deposit: $1000
  • Term: 12 months
  • Member FDIC
Bask bank logo
  • 4,55% APY
  • Minimum deposit: $1000
  • Term: 12 months
  • Member FDIC
Barclays Logo
  • 4,50% APY
  • Minimum deposit: $0
  • Term: 12 months
  • Member FDIC
BMO logo
  • 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:

ProsCons
No feesMinimum deposit $1,000
5.10% APY
Pros and cons BMO certificate of deposit

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:

InformationDescription
Websitehttps://www.bmo.com/
Twitterhttps://twitter.com/BMO_US
Facebookhttps://www.facebook.com/bmoUSA
YouTubehttps://www.youtube.com/@bmoUS
Interest information about BMO

Finally, we show you related content about certificates of deposit:

Updated the day 12 May, 2023 by Alfredo Barandiarán

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