Fifth Third Bank CD Rates for 2024

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

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.

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• Early withdrawal penalties from 1%-3% of principal withdrawn, depending on term length.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.

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.

See our full Ratings Methodology here.