BMO CD Rates: 2025 Terms and Rates
Written by
Sarah Sharkey
Edited by
Melanie Grafil
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BMO Bank offers a mix of in-person and online banking options. Recognized as one of GOBankingRates’ Best Banks of 2025, BMO provides a range of CDs with competitive interest rates that may be worth considering.
BMO offers 10 different Standard CD term lengths with various APYs. Regardless of the term length, you’ll need a minimum deposit of at least $1,000 to get started.
| Term Length | APY |
|---|---|
| 3 months | |
| 6 months | |
| 9 months | |
| 12 months | |
| 18 months | |
| 24 months | |
| 30 months | |
| 36 months | |
| 48 months | |
| 60 months |
In addition to Standard CDs, BMO offers CD Specials. Currently, the five CD Specials come with significantly more attractive rates. Below is a closer look at those rates.
| Term Length | APY |
|---|---|
| 13 months | |
| 25 months | |
| 35 months | |
| 45 months | |
| 59 months |
Requirements and Penalties
When you open a CD at BMO, you won’t incur monthly maintenance fees. However, you’ll need to make a minimum deposit of at least $1,000 initially.
When you add funds to the CD, you have a 10-day grace period to make any adjustments to the principal amount. After the 10 days, you’ll have to pay an early withdrawal penalty to access your funds before the maturity date.
The early withdrawal penalty varies based on the term length outlined in the chart below.
| Term | Interest Penalty |
|---|---|
| 1 month | You must forfeit all interest earned |
| 2 months to 11 months | 90 days of interest |
| 12 months to 23 months | 180 days of interest |
| 24 months to 35 months | 270 days of interest |
| 36 months to 47 months | 365 days of interest |
| More than 48 months | 545 days of interest |
When choosing the appropriate CD term, confirm you are comfortable with the term length. Accessing the funds held within your CD before the maturity date can get expensive.
Pros and Cons of BMO CDs
Before opening a CD at BMO, it’s important to know the drawbacks and advantages.
Pros
- Competitive rates on some CD terms
- FDIC-insured
- Physical branches and online banking are available
Cons
- Not all APYs are competitive, especially for shorter terms
- Minimum deposit requirement of $1,000
- Physical branches aren’t available in every state
How Much Can You Earn With a BMO CD?
Your total earnings will vary depending on how much you deposit, the APY and the term you choose. Here’s a quick look at how much interest you could earn with BMO CDs:
| Deposit Amount | Term | APY | Potential Interest Earned |
|---|---|---|---|
| $1,000 | 1 year | $12.50 | |
| $5,000 | 2 years | $100.50 | |
| $10,000 | 3 years | $303.01 | |
| $20,000 | 4 years | $812.08 |
How To Open a BMO CD
If you want to open a new BMO CD, you can follow these steps:
- Choose your CD term and rate: Visit BMO’s website or go to a local branch. Compare terms and rates to pick the right one for you.
- Gather your information: Make sure you have personal identification, your Social Security number and mailing address handy.
- Decide how much you want to deposit: You’ll need at least $1,000 to open a BMO CD.
- Apply online or in person: Follow the prompts online or visit a branch in person to open your new account.
- Confirm your account details: Verify all your details are correct before finalizing.
How BMO CD Rates Compare to Competitors
The average rate on a 12-month CD is 1.62% as of June 2025. BMO’s APY is lower, but still offers a secure return for those prioritizing stability.
But you can lock in an even better rate by considering the CD Specials offered by BMO. For example, the 13-month CD term comes with a APY.
However, not all BMO CD rates are equally attractive. With a range of rates, it’s a good idea to shop around for the term you had in mind before jumping into a BMO CD. You may find a better rate somewhere for the term you are looking for.
| Bank | 1-Year CD Rate | 3-Year CD Rate | Minimum Deposit |
|---|---|---|---|
| BMO | $1,000 | ||
| Ally Bank | $0 | ||
| Synchrony Bank | $0 | ||
| Bread Savings | $1,500 |
Are BMO CDs Right for You?
BMO offers a full suite of CDs. With their competitive rates and relatively low minimum opening deposit, you’ll likely find one that meets your financial goals. However, some standard CD rates may not be the most competitive when compared to other banks. Before opening a CD, scope out the best CD rates to ensure you’re getting the most bang for your buck.
BMO CDs: FAQ
Here are the answers to some of the most frequently asked questions regarding BMO CD rates.- What is the minimum deposit for a BMO CD?
- BMO requires a minimum deposit of $1,000 to open a CD account.
- Do I need a BMO account to open a CD?
- No, you don't need an existing BMO account to open a new CD account.
- Can I open a CD online?
- Yes, BMO allows you to open CDs online through its website or in person at a local branch.
- What happens if I withdraw before the term ends?
- If you withdraw your funds before the maturity date, you'll face an early withdrawal penalty.
- Are BMO CD rates competitive in 2025?
- BMO CD rates are competitive, especially for promotional terms and CD specials.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Sept. 12, 2025.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
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- FDIC. 2024. "National Rates and Rate Caps."
