Savings Accounts
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A savings account is an important part of reaching your financial goals—all while ensuring you have money set aside for whatever surprises life sends your way. Check out the types of savings accounts Fifth Third offers, and find the best savings account for your personal needs
Traditional Savings Accounts
Fifth Third Momentum® Savings
A goal-oriented savings account that helps you achieve financial goals without a second thought.
Fifth Third Momentum® Savings
A goal-oriented savings account that helps you achieve financial goals without a second thought.
Skip the monthly service fee if one of the following is met:
- You have a Fifth Third checking account (not including Fifth Third Express Banking).
- All owners of your savings account must also be listed together as owners on your Fifth Third checking account.
- You maintain an average monthly balance of $500 or more.
- Someone under age 18 is an owner of the account.
- You are enrolled in Fifth Third Military Banking.
Otherwise, just $5/month.
Key Benefits:
- Competitive interest rates1.
- Reach your savings goals quicker with automatic checking-to-savings transfers.
- The added convenience of combined savings and checking statements.
- Ideal for teaching children how to save and budget.
Fifth Third Relationship Money Market
RMM accounts are perfect if you have larger balances and want a high yield savings account that lets you earn our highest rates.
Fifth Third Relationship Money Market
RMM accounts are perfect if you have larger balances and want a high yield savings account that lets you earn our highest rates.
Skip the monthly service fee if one of the following is met:
- You have a Fifth Third checking account (not including Fifth Third Express Banking).
- All owners of your savings account must also be listed together as owners on your Fifth Third checking account.
- You maintain an average monthly balance of $500 or more.
- Someone under age 18 is an owner of the account.
- You are enrolled in Fifth Third Military Banking.
Otherwise, just $5/month.
Key Benefits:
- Enjoy tiered interest rates that provide a higher return for the more you save1.
- Write personal checks.
- Added convenience of combined savings and checking statements.
Specialty Savings Accounts
529 Savings Accounts
Fifth Third Bank’s 529 college savings plans offer multiple tax advantages and ease the burden of paying for higher education. 529 rates vary by location.
529 Savings Accounts
Fifth Third Bank’s 529 college savings plans offer multiple tax advantages and ease the burden of paying for higher education. 529 rates vary by location.
Key Benefits:
- $25 minimum to open a 529 Savings Account.
- $500 minimum to open a 529 CD.
- No monthly service charges.
- Guaranteed rate of return on CDs.
- FDIC insured.
- You don’t need to live in Ohio to open an account (but if you do, check out Ohio’s 529 Plan).
More Benefits:
- 529 funds can be used at any accredited post-secondary school that accepts federal financial aid.
- No taxes on earnings as your account grows2.
- Withdrawals used for qualified higher education expenses are exempt from federal3 (and in some cases state) income tax.
Kids Savings Account
Give minors a kick-start on their financial journey with Fifth Third Momentum® Savings Account.
Kids Savings Account
Give minors a kick-start on their financial journey with Fifth Third Momentum® Savings Account.
Skip the monthly service fee if:
- The account owner is under 18.
Otherwise, it's $5 per month.
Key Benefits:
- Competitive interest rates.
- Provide children financial freedom while learning about positive banking habits.
- Easily transfer funds to your kids’ savings account in-person, online, or on the Fifth Third mobile app.
- Access to your money at any Fifth Third ATM, branch, or online at 53.com.
Health Savings Account
HSA accounts are a great way to set aside pre-taxed money for qualified medical expenses. HSAs are available to those with a qualifying high-deductible health plan. Fifth Third has partnered with HealthEquity to offer you access to the largest non-bank custodian of Health Savings Accounts.
Health Savings Account
HSA accounts are a great way to set aside pre-taxed money for qualified medical expenses. HSAs are available to those with a qualifying high-deductible health plan. Fifth Third has partnered with HealthEquity to offer you access to the largest non-bank custodian of Health Savings Accounts.
Key Benefits:
- No opening deposit.
- Balance rollovers.
- Pre-tax benefits.
Certificate of Deposit
CDs are an excellent way to help your funds grow if you are able to set a certain amount aside for a period of time.
Certificate of Deposit
CDs are an excellent way to help your funds grow if you are able to set a certain amount aside for a period of time.
Key Benefits:
- Enjoy higher interest rates than many other savings products6.
- A set, fixed rate for your term duration.
- Certificates of deposit do not have maintenance fees.
- There is no charge to open a CD.
- Interest can be credited to the CD, Fifth Third Checking Account, or Fifth Third Savings Account7,8.
- FDIC insured up to the maximum amount permitted by law.
Additional Resources
Questions to Ask When Opening a Savings Account
From what to look for in a savings account to asking the right questions.
The Benefits of a Savings Account
How to automatically increase your nest egg with a savings account.
How Many Savings Accounts Should I Have?
How many savings accounts should I have? Multiple savings accounts can help you reach financial goals, manage finances, and build up savings. Fifth Third Momentum® Bankingoffers support for your financial goals—providing local bankers, goal-based savings options, and virtual customer service for multiple checking or savings accounts.