BMO Harris Bank

Overview / Commentary
111 West Monroe Street
Chicago, IL 60603

BMO Harris Bank is headquartered in Chicago and is the largest bank in the state of Illinois. It is also the 20th largest bank in the nation. It was established in 1947 and as of June of 2020, it had grown to 10,802 employees at 554 locations. BMO Harris Bank has an A health rating.

Related Posts

MM Big Drop From .95 To .75% APY - 8/26/2020

BMO Harris Platinum Money Market Drops To 0.95% - 7/25/2020

Another rate cute... this time to to 0.95%

BMO Harris Platinum Money Market Drops To 1.10% - 7/7/2020

Looks like the rate has been cut again to 1.10%

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Good customer service

Harris bank has good customer service but is lacking in products and fees. They had a good partnership with local elementary schools to help kids start saving. This was great as it gave the community a jump start and showed that they cared. I am happy I got a chance to know the local tellers and start my understanding of savings with them.

Rates May Not Be As Shown

Be careful with BMO Harris, They are trying to attract new money from outside their normal market areas. If you are in an area that has local branches, the rate is much lower.

There Are BETTER Banks To Do Business With

Posted by: |

In the first week of account opening, BMO Harris froze my account claiming they couldn’t verify my identity. This prevented me from making deposits and withdrawals for a number of days until the matter was finally resolved after numerous calls. Also, external transfers take days to post to your BMO Harris account even though the funds are deducted immediately from your transferring bank. Investors are losing interest income during these
posting delays while BMO benefits from having the use of your money -other banks are much quicker. I will be closing my account with BMO and doing business elsewhere !


Posted by: |

This bank makes it much harder to close an account than other banks I've used. Do not recommend it.



Health Grade Components

FDIC Certificate #16571
Year Established1947
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.48%
Return on Equity - YTD4.03%
Annual Interest Income$2.12B
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$153.5B$129.6B
LoansQ2 2020vs Q2 2019$88.12B$85.67B
DepositsQ2 2020vs Q2 2019$128.8B$101B
Equity CapitalQ2 2020vs Q2 2019$17.70B$16.56B
Loan Loss AllowanceQ2 2020vs Q2 2019$1.09B$775.7MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$1.51B$938.1MM
Real Estate OwnedQ2 2020vs Q2 2019$18.2MM$18.7MM
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Always verify rates and promotions with the bank or credit union. We are not BMO Harris Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

BMO Harris Bank Savings Account Rates

0.40%*$50k*-Health Savings Account
OTHER TIERS: 0.05% Up to $5k | 0.10% $5k - $10k | 0.20% $10k - $25k | 0.30% $25k - $50k
0.05%--Statement Savings

BMO Harris Bank Money Market Rates

0.15%*$50k*-Platinum Money Market
OTHER TIERS: 0.05% $5k - $25k | 0.10% $25k - $50k

BMO Harris Bank Checking Account Rates

0.05%*$5k*-BMO Harris Premier Account
OTHER TIERS: 0.01% Up to $5k
0.00%--BMO Harris Smart Advantage™ Account

BMO Harris Bank CD Rates

0.70%$5k-55 Month CD Special
0.60%$5k-25 Month CD Special
0.50%$5k-13 Month CD Special
0.35%$1k-60 Month CD
0.30%$1k-1 Year Add-on CD
0.25%$1k-48 Month CD
0.20%$1k-36 Month CD
0.15%$1k-30 Month CD
0.10%$1k-9 Month CD
0.10%$1k-12 Month CD
0.10%$1k-18 Month CD
0.10%$1k-24 Month CD
0.05%$1k-3 Month CD
0.05%$1k-6 Month CD
0.05%$100k-1 Month CD
0.05%$100k-2 Month CD

BMO Harris Bank IRA Rates

0.35%$1k-60 Month IRA
0.25%$1k-48 Month IRA
0.20%$1k-36 Month IRA
0.15%$1k-30 Month IRA
0.10%$1k-9 Month IRA
0.10%$1k-12 Month IRA
0.10%$1k-18 Month IRA
0.10%$1k-24 Month IRA
0.05%$1k-3 Month IRA
0.05%$1k-6 Month IRA


Chicago Area

Interactive local rates map

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