What is the current BMO CD rate?

BMO CD rates vary by term and by whether a promotional offer is currently running — promotional rates on select terms (often non-standard terms like 7 or 13 months) can run several percentage points above standard rates. Rates and available terms change frequently. Check bmo.com for current rates before opening an account — do not rely on a previously seen rate.

What is the minimum deposit for a BMO CD?

BMO has historically required a minimum deposit around $1,000 for standard CDs, though this can change. Confirm the current minimum directly with BMO before opening, since requirements can vary by term and promotion.

What is the early withdrawal penalty on BMO CDs?

BMO's early withdrawal penalty has typically varied by term, with longer terms carrying steeper penalties (up to roughly 270 days of interest for terms over 24 months in past disclosures). Confirm the exact current penalty schedule for your specific term at account opening.

How does BMO compare to online banks for CD rates?

BMO's promotional CD rates, when running, have been competitive with online banks on specific terms, but promotions are not always available. When no promotion is running, BMO's standard rates have historically lagged online bank averages. Confirm current rates at both BMO and any online bank you're comparing before deciding — CD rates across the industry change frequently.

BMO CD Rates 2026 — Terms, APYs, and How They Compare

BMO CD rates vary between lower standard rates and higher promotional rates offered periodically on select terms — often non-standard terms like 7 or 13 months, designed to attract new deposits. BMO Bank (the US subsidiary of BMO Financial Group, one of Canada’s largest banks) operates branches primarily across the Midwest and Western US. Rates below were not independently re-verified as of this update — confirm current figures directly at bmo.com before opening a CD.

Rates and terms change frequently. Verify the current rate at bmo.com before opening an account. Promotional rates are not always available.

How BMO CD Pricing Typically Works

Tier	General Pattern
Standard CDs	Lower rates, available on most standard terms
Promotional CDs	Higher rates offered periodically, often on non-standard terms (e.g., 7-month, 13-month); require a new deposit

BMO does not publish one fixed nationwide rate that stays constant — actual APYs vary by term and by whether a promotion is currently running. Confirm current rates directly at bmo.com or by calling 1-888-340-2265 before opening a CD.

How Much Can You Earn? (Illustrative Only)

On a $10,000 deposit at an illustrative promotional 12-month rate of 4.00% APY:

After 12 months: ~$10,400 ($400 in interest)

At an illustrative standard 12-month rate of 2.00% APY:

After 12 months: ~$10,200 ($200 in interest)

These figures are illustrative only and are not confirmed current BMO rates. Confirm the actual rate offered on your specific CD before calculating expected earnings, and compare against current online-bank CD rates before deciding.

Early Withdrawal Penalties

Term	Typical Penalty (confirm current terms)
Less than 12 months	~90 days of interest
12 to 24 months	~180 days of interest
More than 24 months	~270 days of interest

Confirm your CD’s exact penalty terms at account opening — this schedule can change.

BMO vs. Online Banks

Before choosing between a BMO CD and an online bank CD, compare each bank’s currently advertised rate, minimum deposit, and penalty terms directly on their own sites. BMO’s promotional rates can be competitive when running, but the timing is unpredictable — a meaningful consideration against online banks that publish standing rates.

BMO’s “Smart” CD Option

BMO has periodically offered a “Smart” or “Raise Your Rate” CD variant that allows a one-time rate increase if BMO raises its offered rate during your term. Confirm current availability of this feature directly with BMO, as such products come and go with market conditions.

CD Renewal at BMO

BMO CDs typically renew automatically at maturity into the same term at the standard (non-promotional) rate, unless you take action during a grace period. Confirm the current grace period length directly with BMO, since it can change. If you opened a promotional CD, the renewal rate will likely be the lower standard rate.

Who Should Open a BMO CD?

Best for:

Existing BMO banking customers who want to keep funds in one institution
Savers in BMO branch markets (Midwest, Western US) who value in-person support
Anyone timing a deposit when a BMO promotional CD is currently available

Consider alternatives if:

No BMO promotional rate is currently running
You want the consistently highest available rate regardless of promotion timing

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.

The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy