Fifth Third Bank

Certificates of Deposit

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What’s great about certificates of deposit (CDs)?

  • CDs typically pay higher interest rates than many other savings products.1
  • Continuous compounding means interest earned today earns interest tomorrow2
  • Interest can be credited to the CD or to a Fifth Third checking account or savings account2,3
  • Includes principal assurance in case you need access to your funds before maturity. Fifth Third will return your original deposit, less withdrawals, once a CD is seven days or more into its term.
  • There is no charge to open a CD and the terms are flexible
  • A Fifth Third CD can be used as collateral for a Fifth Third loan4
  • FDIC insured up to the maximum amount permitted by law
  • Flexible terms and attractive rates

 

Why Choose This Option Minimum Deposit of Open Interest Rates

Promotional CD

Flexible terms and attractive rates

$5,000

Standard CD (7-89 Days)

Option to manage shorter-term saving objectives

$5,000

Standard CD (3-84 Months)

Low minimum investment

$500

529 CD*

Tax-free* savings for future education expenses

$500


Penalties for Early Withdrawals

A penalty will apply if principal is withdrawn prior to the maturity date, based on the term of the CD.

CD Term CD Penalties for Early Withdrawal

7 Days up to 364 Days

1% of Principal Withdrawn

365 Days up to 36 Months

2% of Principal Withdrawn

36 Months or Greater

3% of Principal Withdrawn

The amount of the penalty shall not exceed interest earned, except for during the first 6 days of the term where a minimum 7 day interest penalty must be applied and may be deducted from principal. The entire penalty will be waived in the event of death, court ordered withdrawal, or court declared incompetency of an owner. Partial withdrawals are not allowed.

 

Renewal

If you choose the automatic renewal feature for your Certificate of Deposit, there is a one-day grace period (for terms of less than 32 days) or a ten-day grace period (for terms of 32 days or more) after the maturity date to redeem it without penalty. Interest will not be paid after the maturity date unless the account is renewed. (Renewals not available for 529 CDs.)

If you do not choose the automatic renewal feature for your Certificate of Deposit, interest will not be paid after the maturity date unless the account is renewed.

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