Website: https://www.bmoharris.com

Authority:  BMO, a large Canadian bank, serves US customers through BMO Harris Bank, based in the U.S. Midwest it has more than two million retail and business customers. It has about 570 branches in Minnesota, Missouri, Kansas, Illinois, Wisconsin and Indiana

How to open a BMO Harris Certificate of Deposit

- You can open a CD through their website portal which initially asks you to put in the amount and term required. The CD application form indicates that it may take 20 minutes or less to open. It asks to have available a Social Security Card or social insurance number as well as Driver''s License/State ID if you are a new customer. In the application it also ask for country of residence and citizenship, ownership individual/joint and if you are an existing customer. In addition,  personal information, ID information , Address , Employment Status. Employer name, Occupation, Email address and telephone are also required.

It offers 1-877-563-3736 to get a banker to assist you.

- You may visit one of its 570 branches across the midwest to open a CD directly.

- You can call 1-888-340-2265 to find out about opening a CD account.

Information about BMO Harris 1 Year CD rates

BMO Harris offers a variety of deposit products from 1 month to 5 years, with higher risk premiums associated with longer rates.  It also has a large bank network presense across the midwest, with higher associated costs compared to online banks. With higher costs and short term risk premium, 1 year rates are affected by the Fed, but not as much as 5 year rates would be. With the risk of rising rates, BMO Harris could be forced to compete for deposits as customers could seek alternative investments or better offers from other banks in a rising rate environment. 

Information about this account

The interest rate for this 1yr BMO Harris certificate of deposit account requires a minimum deposit of $100,000.