Relationship Money Market Account

A money market account is a type of savings account with a higher-than-average interest rate. Money market accounts are a great option if you’re saving for a big purchase and want to have easy access to the funds. Unlike other types of high interest savings accounts, you can write checks from your money market savings account. With the Fifth Third Relationship Money Market Account, interest rates vary based on your balance—the larger your balance, the higher your rates. Fifth Third frequently offers in-branch promotional offers. Visit a branch to ask about our current offers, or  view our rates.

Money market accounts work in a similar way to a checking or traditional savings account. After opening and depositing money in the account, you periodically earn interest on the balance. With the Fifth Third Relationship Money Market Account, you have the ability to write checks similar to a checking account. You can access the funds in your money market account at any time, all while earning a higher-than-average interest rate.

A CD is a time-bound deposit with a higher interest rate compared to a traditional savings account. Funds are deposited into a CD for a specific, fixed amount of time with a fixed interest rate. When the CD reaches maturity, the customer can withdraw the funds plus interest. Unlike a money market account, funds in a CD are not accessible until the maturity date has been reached.

Yes! You can withdraw funds from your account, just as you would with a traditional savings account. There may be limits on how many withdrawals you can make in a single statement period. Additional withdrawals typically incur a fee.

No, you cannot lose money in a money market account if your account is with an FDIC-member bank, like Fifth Third Bank. A money market account is considered one of the safest types of savings accounts.

Yes, money market accounts are FDIC-insured. Deposit balances are insured up to the maximum amount permitted by law. The standard insurance amount is $250,000 per depositor, for each deposit insurance ownership category. Please visit www.fdic.gov for more information about FDIC insurance coverage.