Fifth Third Bank CD Rate “Promos”
Warning: The rates featured on this page are likely outdated. Visit our CD Rates Center for updated rates and special offers.
Fifth Third Bank, based out of Cincinnati, Ohio, currently has some CD rate promotions going on at a few of their Michigan branches (other branches may be included as well). Don’t get too excited over these “promos” though as it just seems to be wording ploy to entice customers to sign up. The rates are average (at best) and require a $5000 minimum deposit. Many online banks will provide much better rates than these so-called promos and require much less to invest.
-As a side note Fifth Third Bank was recently mentioned as one of the “least trusted banks in the United States.”
About Fifth Third Bank:
Fifth Third is one of the top 20 largest banks in the country. They serve the Midwest and Southeast portions of the United States.
The Company has $120 billion in assets, operates 18 affiliates with 1,307 full-service Banking Centers, including 92 Bank Mart locations open seven days a week inside select grocery stores and 2,341 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina.
Fifth Third operates five main businesses: Commercial Banking, Branch Banking, Consumer Lending, Investment Advisers and Fifth Third Processing Solutions. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2008, has $179 billion in assets under care, of which it managed $25 billion for individuals, corporations and not-for-profit organizations.
The bank received $3.4 billion from the U.S. Treasury as part of its Troubled Asset Relief Program in 2008.
In 2008, the company reported a net loss of $2.2 billion due to loan problems and lower market values.
Current CD Rate Promotions offered through Fifth Third Bank:
- 8 month CD “promo” rate yielding 0.50% APY with a minimum deposit of $5,000 required.
- 13 month CD “promo” rate yielding 0.90% APY with a minimum deposit of $5,000 required.
- 24 month CD “promo” rate yielding 1.25% APY with a minimum deposit of $5,000 required.
- 36 month CD “promo” rate yielding 1.75% APY with a minimum deposit of $5,000 required.
- 60 month CD “promo” rate yielding 2.75% APY with a minimum deposit of $5,000 required.
To put the above offers in perspective, the national average for 6 month CD rates sits at roughly 0.80% APY, the national average for 1 year CD rates sits at roughly 1.18% APY and the national average for 3 year CD rates sits at roughly 1.98% APY.
