TORONTO, Sept. 10 /CNW/ - BMO Bank of Montreal announced today the
introduction of a new offer for prospective and existing homeowners - 'free
banking for the term of your mortgage'.
Effective until October 31, 2007 customers who take out a five-year term
mortgage or renew or refinance an existing mortgage for a five-year term will
receive BMO's Performance Plan with unlimited transactions for free over the
term - a savings of more than $800, which in some cases could translate into
an extra mortgage payment.
"Our five-year fixed term mortgage tends to be today's product of choice
particularly when our customers can enjoy a five-year term at less than
today's Prime Rate," said Cid Palacio, Vice President BMO Bank of Montreal.
"In addition to excellent rates and clear expert advice, we want to offer
Canadians something extra to help with home ownership."
The Bank of Canada's recent decision to hold off raising interest rates
comes during a period of uncertain market conditions. For prospective home
owners who are looking for peace of mind with mortgage payment predictability,
a five-year fixed mortgage could be an ideal choice.
For those not sure whether to go fixed or variable, BMO's promotion
extends to its popular Homeowner ReadiLine product which combines the
advantages of a traditional fixed-term mortgage with the variable rate
benefits of a line of credit, allowing customers to take advantage of the best
of both worlds.
In addition to five years of free banking, customers will be eligible to
take advantage of BMO's recently enhanced AIR MILES program - the ability to
earn ongoing AIR MILES reward miles on all debit card purchases.
To help support the fall mortgage offer, BMO launched a national
advertising campaign consisting of radio, billboard, transit and internet
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly
diversified North American financial services organization. With total assets
of $359 billion as at July 31, 2007, and more than 35,000 employees, BMO
provides a broad range of retail banking, wealth management and investment
banking products and solutions. BMO Financial Group serves clients across
Canada through its Canadian retail arm, BMO Bank of Montreal, and through its
wealth management firms BMO Nesbitt Burns, BMO InvestorLine and BMO Harris
Private Banking. BMO Capital Markets, our North American investment and
corporate banking division, provides a full suite of financial products and
services to our North American and international clients. BMO also serves
personal and commercial clients in the United States through Chicago-based
Harris, an integrated financial services organization that provides more than
one million personal and business clients with banking, lending, investing,
financial planning, trust administration, portfolio management, family office
and wealth transfer services.
For further information:
For further information: Shivani Ahluwalia, Toronto,
firstname.lastname@example.org, (416) 867-3996; Lucie Gosselin, Montreal,
email@example.com, (514) 877-7251; Laurie Grant, Vancouver,
firstname.lastname@example.org, (604) 665-7596