529 Education Savings Account

529 Education Savings and CD Accounts

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Saving for college made simple

Whether college is years away or around the corner, it’s never too soon, or too late, to start saving for your college student. Offering multiple tax advantages, a 529 college savings plan is a smart way to prepare for the future and ease the burden of paying for a higher education.

For an enrollment kit, please call 1-800-AFFORD-IT

Key Benefits:

  • $25 minimum to open a 529 Savings Account
  • $500 minimum to open a 529 CD
  • No monthly service charges
  • CD offers guaranteed rate of return1
  • FDIC insured2
  • Earnings grow tax free3,4
  • Qualified withdrawals are exempt from federal income tax3,4 (and in some cases, state income tax)
Know your savings ABCDs

Grow savings now. Use them anywhere later.

With Ohio’s CollegeAdvantage Direct 529 Plan, you can use the compounding power of tax-free growth to save even more. You can choose to save through a Fifth Third 529 Savings Account or a Fifth Third 529 CD.

When you’re ready to use your funds, qualified withdrawals are tax-free.3,4 Plus, Ohio taxpayers can deduct their contributions to a CollegeAdvantage Direct 529 Plan from their state income taxes up to $4,000 per beneficiary, per year, with unlimited carry forward.3,4

Most importantly, you can use your 529 funds at most post-secondary schools nationwide. If a college has a Federal School Code, you can use your CollegeAdvantage funds to pay for qualified expenses there.

Start low, grow fast

Save even faster with a 529 CD

Earn competitive interest rates1 at a guaranteed rate of return with a Fifth Third 529 CD.

  • Start with as little as $500
  • FDIC insured
  • No taxes as your account grows3, 4
  • Terms from 3 months to 12 years (144 months)
  • Automatic transfer to a 529 Savings Account at maturity

See how Ohio’s CollegeAdvantage Direct 529 Plan can help you save smart.

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Get higher rates when you open a Fifth Third Relationship Savings Account