BMO Bank

Overview / Commentary
111 West Monroe Street
Chicago, IL 60603

BMO Bank is headquartered in CHICAGO and is the largest bank in the state of Illinois. It is also the 14th largest bank in the nation. It was established in 1947 and as of March of 2024, it had grown to 17,679 employees at 1,042 locations. BMO Bank's money market rates are 2X the national average, and it has an A health rating.

Related Posts

BMO Harris $300/$500/$1,000 Business Checking Bonus - 3/14/2024

It is Nationwide via online application. No ChexSystems... at least in my case, I used EIN as Business Tax ID. The Promotion is a type of "clever" trap, there is a Average Collected Balance requirement that could not be satisfied with stated $$$ minimum. Expect to be doing heavy calculation and maintain at least double of stated $$$ minimum balance for at least a day or longer. After all, from the basis of 5% on $30K the Bonus will net about $600. IGR doesn't do conversion of one time bonus into APY and doesn't welcome equivalent Rate calculations! The opening process was pretty entertaining. Right after "Submit" got the message displayed...something like...we are reviewing your application. Next day email "Action Required!" arrived from noreply@bmo requesting the submission of proof of the incorporation(for sole proprietorship under my legal name as it was) and Letter of Good Standing from "Secretary of State"(had to guess not from Blinken). Called them, interested why BMO insists

BMO $300 Bonus Is A Foul Play - 7/5/2023

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Reviews (194)


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Did not feel the love...

Posted by: |

We have dealt with BMO for many years. A few years ago we had the unfortunate opportunity to find out that accounts will now be charged for inactivity. What a sham! It is my money, seriously, how hard is it to let it sit?! Any time I have to go into my local bank for help with my savings or checking, I might find that I have to wait a number of hours or even days for attention. It also bothers me that the savings account rates are so low. Each time I visit the bank, the staff tries to "sell" me on the idea of opening another account to get better interest rates. When I see the low interest rates, I can see t is not worth my time. The low rates are discouraging, and while they are the norm, there was a time BMO led the banks with great rates.

Bmo Morons

Posted by: |

Complete douchbags utterly incompetent

Worts Customer Service

Posted by: |

I have used banks for 45+ years and never had I received such poor care. Phone system does not direct you to correct department even though number is on payment slip. When you do contact them they ask to many questions, and barely understand them Will never bank here again and will warn friends.



Health Grade Components

FDIC Certificate #16571
Year Established1947
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.03%
Return on Equity - YTD8.25%
Annual Interest Income$3.39B
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$264.6B$265.5B
LoansQ1 2024vs Q1 2023$145.5B$156.2B
DepositsQ1 2024vs Q1 2023$208B$208B
Equity CapitalQ1 2024vs Q1 2023$33.22B$32.27B
Loan Loss AllowanceQ1 2024vs Q1 2023$2.07B$1.98B
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$1.7B$904.5MM
Real Estate OwnedQ1 2024vs Q1 2023$7.2MM$14.7MM
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Always verify rates and promotions with the bank or credit union. We are not BMO 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 Bank Savings Account Rates

0.03%$0-IRA Premium Savers
0.01%$0-Savings Builder

BMO Bank Money Market Rates

3.56%$250k-Relationship Plus Money Market - Premier Package
3.04%$100k$250kRelationship Plus Money Market - Platinum Package
2.02%$25k$100kRelationship Plus Money Market - Gold Package
1.00%$0$25kRelationship Plus Money Market - Silver Package

BMO Bank Checking Account Rates

0.01%$0-BMO Relationship Checking
0.01%$0-BMO Relationship Checking - Silver (<25k combined balance)
0.01%$0-BMO Relationship Checking - Gold (25k-<100k combined balance)
0.01%$0-BMO Relationship Checking - Platinum (100k-<250k combined balance)
0.01%$0-BMO Relationship Checking - Premier (250k+ combined balance)

BMO Bank CD Rates

4.90%$1k-13 Month CD Special
4.40%$1k-25 Month CD Special
4.30%$1k-59 Month CD Special
4.30%$1k-35 Month CD Special
4.30%$1k-45 Month CD Special
2.00%$1k-12 Month CD
1.70%$1k-18 Month CD
1.50%$1k-24 Month CD
1.40%$1k-30 Month CD
1.35%$1k-36 Month CD
1.35%$1k-48 Month CD
1.35%$1k-60 Month CD
0.05%$1k-3 Month CD
0.05%$1k-6 Month CD
0.05%$1k-9 Month CD
0.05%$100k-1 Month CD
0.05%$100k-2 Month CD

BMO Bank IRA Rates

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


Chicago Area

Interactive local rates map

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