The Bank of Missouri Adds Rate-Leading 25-Month CD

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Deal Summary: CDs – 25-month, 19-month , and 13-month, all earning 5.32% APY, $500 minimum opening deposit.

Availability: Online market area includes all of Missouri.

The Bank of Missouri (BoM) recently added three limited-time CDs, each earning 5.32% APY. Of the three, the 25-month CD is the most competitive. The minimum opening deposit for any BoM CD is $500, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
5.32%$500-The Bank of Missouri13 Month CD
Rates as of April 17, 2024.

The three CDs are also available as IRA CDs (Traditional, Roth, CESA, SEP), earning the same 5.32% APY with the same deposit requirement.

APYMINMAXINSTITUTIONPRODUCTDETAILS
5.32%$500-The Bank of Missouri13 Month IRA (Traditional, Roth, CESA, SEP)
Rates as of April 17, 2024.

Availability and Account Opening

Headquartered in Perryville, Missouri, The Bank of Missouri offers its product line to Missouri residents who are U.S. citizens and at least 18 years old.

Opening a CD can be done online or at any of 28 full-service Missouri branches, located in Bolivar (2), Branson, Cape Girardeau (2), Caruthersville, Centralia, Columbia, Fair Grove, Jackson (2), Marble Hill, Martinsburg, Mexico, Montgomery City, Ozark, Patton, Perryville (2), Poplar Bluff, Republic, Rolla, St. Robert, Springfield (3), and Steele.

As stated on the first page of the online application,

Please plan to make a deposit to your new account as part of the online account opening process. Transfer funds to your new account from an existing account at another financial institution or from an existing Bank of Missouri account. You'll want to have that account login handy. To fund your account by another method, apply at any Bank of Missouri location.

If you are an existing Bank of Missouri customer, please log in to the app or online banking on the website and select "Open an Account."

Funding and Other Details

The following information is from a conversation with a CSR.

  • Funding – ACH if opening online; wire, check, or internal transfer if opening in-branch.
  • Ownership – Individual, joint, or trust.
  • Early Withdrawal Penalty – 12 months of interest for the 25-month CD.
  • Interest – Compounded/credited bi-annually (every 6 months). Cannot be withdrawn without penalty.
  • Maturing Funds – Wire, cashier’s check to address on file, or internal transfer.
  • Grace Period – 10 calendar days before automatic renewal to a standard term-length CD.
  • Beneficiaries – Unlimited and percentages can be assigned; Social Security numbers not required.
  • Credit Check – ChexSystems

Bank Overview

The Bank of Missouri has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 3.88% (excellent), based on March 31, 2023 data. In the past year, the Bank’s total non-brokered deposits decreased by -$251.2 million, a poor annual growth rate of -10.19%. Please refer to our financial overview of The Bank of Missouri (FDIC Certificate # 1617) for more details.

Established in 1891, The Bank of Missouri was originally known as the Bank of Perryville – a name that lasted for 106 years. Between 2008 and 2020, The Bank of Missouri acquired six banks in six Missouri counties. Currently the eleventh largest bank headquartered in Missouri, The Bank of Missouri has assets in excess of $2.8 billion and nearly 93,000 customer accounts.

How the 25-Month CD Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the market area and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on The Bank of Missouri 25-month CD. The following table compares the 25-month CD to the two highest-rate CDs from other banks and the two highest-rate CDs from credit unions.

The above information and rates are accurate as of 8/7/2023.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Columbia CD rates, St. Louis CD rates, Springfield CD rates, Paducah CD rates, 5-year CD rates

Comments
The Bank of Missouri Kasasa Cash Checking Available Statewide
Deal Summary: Kasasa Cash Checking, 3.05% APY on qualifying balances up to $15k.

Availability: Online market area includes all of Missouri.

The Bank of Missouri’s Kasasa Cash Checking account has been part of the product line for almost two years. The initial 3.05% APY on qualifying balances up to $15k is still in effect. Qualifying balances over $15k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.

The Monthly Qualification Cycle requirements are quite basic and include,

  • At least 15 debit card purchases
  • Log into Online Banking
  • Receive eStatements

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