How to apply for a loan from BMO Harris Bank?

Whether you are looking to finance a personal project, a major purchase or an emergency, a loan can be a convenient and flexible option. However, not all financing is the same, and it's important to compare the different options available before choosing one.

BMO Harris Bank, a Chicago-based financial institution, offers a variety of banking products and services, including personal loans and lines of credit with competitive rates and flexible terms.

If you reside in any of the 22 states where BMO has a presence and want to apply for one of its loans, here are the requirements and steps you need to take.

BMO Harris Bank loans

Loan Options at BMO Harris Bank

BMO Harris Bank offers three main loan and line of credit options.

  • Personal Loan: is unsecured financing for special occasions, medical expenses, household repairs, debt consolidation or major purchases.
  • Personal Line of Credit: Similar to a personal loan, but with the flexibility to access funds as needed and pay interest only on the balance used.
  • Secured loan: is a loan backed by collateral, such as a home or car, that offers lower interest rates and longer repayment terms.

In addition, it also offers auto loans for the purchase of a car or recreational vehicle, and various student loans for financing undergraduate and graduate studies.

Requirements to apply for a loan at BMO Harris Bank

To obtain bank financing at BMO Harris Bank, the criteria are usually stricter than for other financial instruments. Requirements include:

  • A good-to-excellent credit score for unsecured loans. In case of opting for the secured loan, the score may be lower.
  • Residency in one of these states: Arizona, California, Colorado, Florida, Idaho, Illinois, Iowa, Indiana, Kansas, Minnesota, Nebraska, Nevada, New Mexico, North Dakota, Missouri, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin or Wyoming, which is where the bank has branches.
  • Valid identification showing your current address.
  • U.S. citizenship or a green card for permanent residence.
  • Social Security Number (SSN).

Please note that these are general requirements and may vary depending on the type of loan you are applying for.

How do I apply for a loan from BMO Harris Bank?

To apply for a personal loan from this bank, we recommend you follow these steps:

Research and compare

Thoroughly review the different personal loan and line of credit options available from BMO Harris Bank. Make sure you have a thorough understanding of the interest rates, repayment terms, and all fees and charges associated with each option.

Shop around to find the best alternative for your needs and financial situation.

Be prepared

Gather in advance all the necessary documentation for identity verification, proof of ability to pay and proof of residency.

This includes your driver's license or passport, recent pay stubs, bank statements and tax returns. Also, recent utility bills in your name that prove your residency in one of the states where BMO Harris Bank is authorized to lend.


You can start the application process online from any device with 24-hour Internet access. You can also call the bank's call center during business hours to apply by phone, or go in person to any of the physical branches.

In all cases, you must complete the application form with your personal and employment data, and attach scans or legible photos of all required documentation.

Wait for approval

The bank will review in detail your credit history and payment capacity, and will verify the authenticity of the information provided.

If you successfully pass the evaluations, you will receive a formal written notification, either by email or mail. You will be informed of the loan approval, the amount of money authorized, the annual interest rate and the agreed repayment schedule.

Receive the funds

Once you are notified of the approval, you will be able to access your bank account within 2-5 business days to verify the direct deposit of the total loan amount.

You can then dispose of the money according to your needs and use it for the purpose agreed upon and stated at the time of application.

The different types of personal loans and lines of credit offered by BMO Harris Bank can provide a flexible and affordable financial solution to meet a variety of customer needs. For example: home repairs, unforeseen medical expenses, purchase of goods or vehicles, among others.

Español: ¿Cómo aplicar para un préstamo del BMO Harris Bank?