Fifth Third Bank CD Rates August 2011

Fifth Third Bank CD rates have changed very little during the third quarter of this year.  Unfortunately for savers and investors that are searching for the best CD rates, Fifth Third Bank CD rates have remained on the low side relative to the highest CD rates available in the market area served by the bank.  In fact, Fifth Third Bank’s best CD rates are barely keeping up with the national average CD rates.

Fifth Third Bank certificate of deposit rates are established based on market area.  The rates promoted by the bank are divided into the standard bank CD rates and featured or promotional CD rates.  There is a $500.00 minimum deposit required to open the standard bank CDs and a $5,000.00 minimum deposit is needed for the featured or promotional bank CDs.  While the CD rates offered are dependent on the geographic location of the accountholder, there appears to be no difference in the rates we surveyed across four different states.

Current featured CD rates offered by Fifth Third Bank in the Florida region included the following terms and rates:

11 month CD rate 0.40%
18 month CD rate 0.60%
24 month CD rates 0.75%
36 month CD rate 1.00%
60 month CD rate 1.25%
 
These CD interest rates have been unchanged since the start of the quarter. 

The Fifth Third Bank standard CD rates in Florida include the following rates and terms:

7 to 89 Day CD rate 0.05%
3 to 6 Month CD rate 0.05%
6 to 12 Month CD rate 0.10%
12 to 24 Month CD rate 0.15%
24 to 36 Month CD rate 0.40%
36 to 48 Month CD rate 0.55%
48 to 60 Month CD rate 0.70%
60 to 84 Month CD rate 0.85%
84 Month CD rate is 1.10%

These bank CD rates have also been unchanged since the start of the third quarter.  The minimum required deposit to open the CDs is $500.00 however, the CD rates are determined on a tiered system with higher balances paying higher interest rates.  The CD interest rates listed above are based on a deposit amount of $10,000.00.  All CD rates are subject to change prior to opening the account additional conditions may apply.

Relative to the national average CD rates, the rates offered by Fifth Third are just a hair above the national rates.  The 5 year national average rate is 1.53 percent while Fifth Thirds promotes a rate of only 1.25 percent.  The national average for a 2 year CD is 0.69 percent and Fifth Third is above that level at 0.75 percent.  The Fifth Third 11 month promotional rate is 0.40 percent which is three basis points or 3/100’s of a percent below the national average 1 year rate of 0.43 percent.

Fifth Third Bank is a Federal Reserve Member bank and is regulated by Federal Reserve Board.
Fifth Third Bank is now the 18th largest bank in the nation based on total assets.  The bank is based in Cincinnati, OH and operates branches in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina.  Consumers interested in Fifth Third Bank CD rates and other products can call the main bank customer service number at 1-888-797-5353 or visit a local Fifth Third Banking branch.

This entry was posted on Monday, August 15th, 2011 at 3:03 pm and is filed under Fifth Third Bank CD Rates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.