Fifth Third Certificates of Deposit

Fifth Third Certificates of Deposit Review

Fifth Third Certificates of Deposit are offered by Fifth Third Bank, a bank founded in 1858 and based in Cincinnati, OH. Fifth Third Certificates of Deposit are available in 11 states across the USA.

Key Takeaways

• Only one CD account type available. Fifth Third Certificates of Deposit only offers traditional CD accounts.
• Low APY. The maximum annual percentage yield for this account is only 0.05.
• High minimum deposit. You must deposit a minimum of $5,000, which is high compared to most CD accounts.
• Wide selection of CD terms. Fifth Third Certificates of Deposit allows you to create a CD ladder by spreading your cash across certificates with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.

Pros & Cons of Fifth Third Certificates of Deposit

Fifth Third Certificates of Deposit FAQ

Are CDs from Fifth Third Bank federally insured?

Yes, your Fifth Third Bank CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does Fifth Third Bank offer?

• Traditional CDs. These CDs pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the CD for another term.

What CD rates does Fifth Third Bank offer on its CDs?

Fifth Third Certificates of Deposit offers an APY starting at 0.01% and ranging up to 0.05%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What is the minimum deposit to open a CD account with Fifth Third Bank?

Fifth Third Certificates of Deposit requires a minimum deposit of $5,000 to open an account.

What is the grace period for Fifth Third Certificates of Deposit?

Fifth Third Certificates of Deposit does not specify what their grace period is. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does Fifth Third Certificates of Deposit charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the CD term ends.

Fifth Third Bank does not charge an early withdrawal fee.

Fifth Third Bank does charge any of the fees we track.