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Fifth Third Bank CD Rates for 2024

Review Updated
Kevin Payne
Matt Frankel, CFP®
By: Kevin Payne
Kevin Payne
Kevin Payne
Kevin Payne is a freelance writer and family travel and budget enthusiast behind FamilyMoneyAdventure.com. His work has been featured in Forbes Advisor, Credible, CreditCards.com, Bankrate, SlickDeals, Finance Buzz, Student Loan Planner, and more. Kevin lives in Cleveland, Ohio with his wife and four teenagers.

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 and  Matt Frankel, CFP®
Matt Frankel, CFP®
Matt Frankel, CFP®
Writer, Analyst

Matt is a Certified Financial Planner™ and investment advisor based in Columbia, South Carolina. He writes personal finance and investment advice for The Ascent and its parent company The Motley Fool, with more than 4,500 published articles and a 2017 SABEW Best in Business award. Matt writes a weekly investment column ("Ask a Fool") that is syndicated in USA Today, and his work has been regularly featured on CNBC, Fox Business, MSN Money, and many other major outlets. He’s a graduate of the University of South Carolina and Nova Southeastern University, and holds a graduate certificate in financial planning from Florida State University.

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Our Banking Experts

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Nathan Alderman has worked with The Motley Fool since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As The Ascent's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

Fifth Third Bank CD offers a few promotional CD rates that are competitive with even the best online banks, but its standard CD rates are low even by brick-and-mortar banking standards. Fifth Third CDs may be a great option for existing customers who could earn higher relationship CD rates, or customers who are willing to take advantage of non-standard promotional terms. Here's a closer look at Fifth Third Bank CD interest rates to see how they stack up against the best CDs and whether they might be right for you.

Fifth Third Bank CD rates for 2024

Rates as of Sept. 17, 2024

APY = Annual Percentage Yield

Offer image for Fifth Third Standard CD
Fifth Third Standard CD
MINIMUM DEPOSIT $500
6 Mo. APY 1 Yr. APY 1.5 Yr. APY 2 Yr. APY 3 Yr. APY 4 Yr. APY 5 Yr. APY
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%

Is a high-yield savings account a better option for you?

A high-interest savings account offers rates competitive with the best CDs accounts, but without having to lock your money away for months or even years at a time. Here are some top-rated high-yield savings account options from our experts.

Account APY Promotion Next Steps
4.25%
Rate info Circle with letter I in it. See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
N/A
up to 4.50%²
Rate info Circle with letter I in it. You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
4.25%
Rate info Circle with letter I in it. 4.25% annual percentage yield as of September 18, 2024
Min. to earn: $0
N/A
Open Account for American Express® High Yield Savings

On American Express's Secure Website.

Compare Fifth Third Bank CD rates

Fifth Third Bank's standard CD interest rates are comparable to those of traditional banks, but are much lower than the best CD rates. However, its promotional rates on certain CDs for high-balance customers are very competitive, even with the highest-paying online banks.

Compare some of our experts' favorite CD accounts with Fifth Third Bank CD interest rates below.

Rates as of Sept. 17, 2024
Bank & CD Offer APY Term Min. Deposit Next Steps
APY: 4.50% Term: 1 Year Min. Deposit:  $2,500
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Member FDIC.
APY: 5.10% Term: 10 Months Min. Deposit:  $2,500
Open Account for

On Secure Website.

Member FDIC.
APY: 5.10% Term: 6 Months Min. Deposit:  $500
Open Account for

On Secure Website.

Fifth Third Bank CD review

Fifth Third Bank offers a standard CD with a variety of terms ranging from seven days to 84 months. For standard CDs, Fifth Third's APYs are extremely low, even by branch-based banking standards. However, there are promotional CD terms that require deposits of $5,000 or more that offer yields that rival the top online banks.

With that in mind, here are some pros and cons of Fifth Third bank to consider.

Fifth Third Bank CD rates

PROS:

  • Low minimum deposit for standard CDs
  • Flexible CD terms ranging from seven days to seven years
  • Promotional CDs of five, nine, and 12 months with high APYs

CONS:

  • Low APYs on standard CDs
  • You'll need at least $5,000 to take advantage of a promotional CD rate
  • CD accounts can't be opened online
  • Early withdrawal penalties from 1%-3% of principal withdrawn, depending on term length.

Fifth Third's standard CDs have flexible terms, which range from seven days to seven years. Like most banks, Fifth Third CDs don't charge monthly fees. There's a minimum deposit of as little as $500 for many term lengths, although you'll need $5,000 to open a promotional-rate CD or one that's shorter three months.

However, Fifth Third's promotional CDs are worth a look if you have enough money to deposit, as its APYs rival even the best online banks. Promotional CD rates vary in availability by location, so visit Fifth Third's website to learn more.

Current customers with specific Fifth Third accounts may earn a higher relationship CD rate. Note Fifth Third CD accounts are opened in person, not online. If you're interested in taking advantage of Fifth Third Bank CD interest rates, you'll need to check to make sure you live near a branch.

Other Fifth Third Bank CD accounts

Fifth Third also offers the following CD accounts:

  • 529 CD with terms from 3 months to 12 years.

Bottom line: Fifth Third CD rates

Fifth Third Standard CD
  • 6 APY: 0.01%
  • 12 APY: 0.01%
  • 18 APY: 0.01%
  • 24 APY: 0.01%
  • 36 APY: 0.01%
  • 48 APY: 0.01%
  • 60 APY: 0.01%
Show All Rates [+] Hide All Rates [-]
Rates as of Sept. 17, 2024

APY = Annual Percentage Yield

Term
Fifth Third Standard CD
6 Mo.
1 Yr.
1.5 Yr.
2 Yr.
3 Yr.
4 Yr.
5 Yr.
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%

Our CDs methodology

At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.

Learn more about how The Motley Fool Ascent rates bank accounts.

FAQs

  • Fifth Third CDs are great for current Fifth Third bank customers who want to keep all of their funds with one bank, especially if they have one of the accounts with relationship benefits. They are ideal for people with at least $5,000 to commit who can take advantage of one of the bank's promotional CD offers.

  • Fifth Third offers flexible CD terms, including short- and long-term options not seen at most banks. It offers promotional CD rates for deposits of $5,000 or more on terms of five, nine, or 12 months.

  • Fifth Third standard CDs don't offer much earning potential, but its promotional CD rates on five, nine, and 12-month terms rival even the best online banks. Plus, opening a Fifth Third CD could be a smart move for current customers who qualify for higher relationship rates.