News Releases

Unsecured personal installment loan with low interest rate and specific fee reversals are available to existing customers who are federal government workers

CHICAGO, Jan. 24, 2019 /CNW/ - BMO Harris Bank today announced a new personal loan program intended to offer financial relief to federal government employees affected by the U.S. government shutdown.

The low-interest two-year loan offer $1,500-$7,500 in financial assistance for customers who meet the eligibility criteria. BMO Harris will waive the loan processing fee and not require payment for the first three months for those who are approved for a loan for the duration of the shutdown.

"We stand by our customers during times of financial hardship," said Ernie Johannson, Group Head, U.S. Personal and Business Banking, BMO Harris Bank. "Our hope is that our loan program will help federal government workers find some financial relief during this difficult time." 

BMO is also reversing certain fees for affected customers for the duration of the shutdown, including:

• Payment deferrals and loan modifications
• Waiving all late fees, including credit card fees
• Deposit account fee waivers
• Reversal of overdraft fees

Existing customers seeking more information are encouraged to visit: https://www.bmoharris.com/main/contact-us/#govt-shutdown

About BMO Harris Bank
BMO Harris Bank provides a broad range of personal banking products and solutions through nearly 600 branches and fee-free access to over 40,000 ATMs across the United States. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the United States. For more information about BMO Harris Bank, visit the company fact sheet. Accounts are subject to approval. BMO Harris Bank N.A. Member FDIC. BMO Harris Bank is part of BMO Financial Group, a highly diversified financial services provider with total assets of CDN$774 billion (as of Oct. 31, 2018), and more than 45,000 employees.

SOURCE BMO Harris Bank