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.
Fifth Third Bank CD rates are now falling behind other big regional bank rates. Along with most large U.S. banks, Fifth Third Bank markets standard term CDs and special featured or promotional CDs. The promotional CD rates are generally measurably higher than the standard CD rates.
In addition to the two types of CD promotions, Fifth Third Bank also follows many of the larger banks with bank CD rates that are sensitive to the geographic location of the bank CD account holder.
The following lists include the Fifth Third Bank CD rates for the standard CDs and the featured certificates for Illinois. The featured interest rates offered by Fifth Third are at or slightly below the national average in Illinois while the standard CD rates are significantly below the national average and well off of the best CD rates offered nationally by term.
Featured CD 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%
Fifth Third Bank featured CD rates require a minimum deposit amount of $5,000.00
Standard CD rates for deposit amounts of $10,000.00:
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 1.10%
CD interest rates are subject to change at any time. The CD rates offered by Fifth Third Bank will vary by market. Consult the nearest Fifth Third Bank branch location to compare current CD rates.
Fifth Third Bank is the 19th largest bank in the nation ranked by total assets. The bank is a super regional bank that is based in Cincinnati, Ohio and operates over 1300 bank branch locations in the states of Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina.
Fifth Third Bank offers a variety of savings products including a wide array of certificates of deposit. With the Fifth Third Bank CDs, account holders have a several options in which to maximize the interest rate earned with the security of FDIC Insurance. Fifth Third Bank is headquartered in Cincinnati, OH and is one of the top twenty largest banks in the US.
Fifth Third Bank offers CDs for an assortment of terms. CD deposit requirement run as low as $500.00 for the standard bank CDs. The bank markets standard CDs as well as promotional CDs that usually have both odd term maturities and more traditional terms. The promotional CD rates are generally at higher rates than the regular comparable maturity standard CDs. The Fifth Third Bank promotional CDs require a minimum $5,000.00 deposit.
Fifth Third Bank is currently marketing 5 different promotional certificates of deposit terms. Current Fifth Third Bank CD rates and terms for promotional CDs include the following:
8 month CD has a rate of 0.50%
13 month bank CD rate is 1.15%
Two year CD rate is 1.50%
Three year CD interest rate is 2.00%
Five year promotional CD rate is 3.00%
Standard Fifth Third Bank CD rates are based on a tiered interest rate structure. With the tiered rate structure, the larger the deposit the higher interest rate earned in the account. Fifth Third offers a number of different terms and rates with the standard CDs including the following:
6 to 12 month term CD has an interest rate of .10% for deposits that are less than $5,000.00, 0.15% for deposits of $5,000.00 to $9,999.99, 0.20% for deposit amounts of $10,000.00 to $24,999.99, 0.25% for deposit amounts of $25,000.00 to $49,999.99 and 0.30% for deposit amounts of $50,000.00 to $99,999.99.
The standard Fifth Third Bank CD with a term of 12 to 24 months has an interest rate of .30% for deposits that are less than $5,000.00, 0.35% for deposits of $5,000.00 to $9,999.99, 0.40% for deposit amounts of $10,000.00 to $24,999.99, 0.45% for deposit amounts of $25,000.00 to $49,999.99 and 0.50% for deposit amounts of $50,000.00 to $99,999.99.
The standard bank CDs with a term of 24 to 36 months come with an interest rate of .70% for deposits that are less than $5,000.00, 0.75% for deposits of $5,000.00 to $9,999.99, 0.80% for deposit amounts of $10,000.00 to $24,999.99, 0.85% for deposit amounts of $25,000.00 to $49,999.99 and 0.90% for deposit amounts of $50,000.00 to $99,999.99.
Promotional bank CD rates offered by Fifth Third bank will vary by market. These Fifth Third Bank CD interest rates were for Illinois locations. Annual percentage yields listed are accurate as of 04/19/2010. Bank CD rates are subject to change and additional conditions may apply.
There is no charge to open one of the Fifth Third Bank CDs and the bank CDs can be used as collateral for a bank loan.
To find more information on Fifth Third Bank CD rates or obtain additional account information, a Fifth Third customer service representative can be reached at 1-800-972-3030.