Fifth Third Bank Rates & Review

Fifth Third Bank Review

Fifth Third Bank takes pride in their Diversity Blueprint, a program whose goal is to attract, build, and develop a diverse group of workers and customers.

In 1948, Fifth Third Bank became the first financial organization in the U.S. to establish a charitable organization. That spirit of community improvement continues to this day: the Fifth Third Foundation, one charitable arm of the bank, made grants of over $3.4 million in 2008. Today, Fifth Third Bank offers checking, savings, and investment options for individuals and businesses through its 16 affiliates in over 1,309 full-service locations.

Checking account options

For individuals, checking account options include rewards, interest, student checking. A no-frills regular checking account is available as part of another checking account package. The Club 53 checking package offers special benefits to customers age 50 and up.

Businesses may choose among checking account plans including one that offers hundreds of free transactions a month, free coin and currency deposits, and other perks.

Savings account choices

Savers can choose from six types of savings account including a high yield savings account and a money market account. CD terms range from 7 days to 84 months. The bank offers tax free 529 CDs for future education expenses as well as traditional, Roth, and rollover IRAs.

Loans and credit

Fifth Third Bank offers credit cards, debit cards, reward cards and gift cards. Qualified direct-deposit customers may access short-term credit through early access to their next qualified direct deposit.

Available purchase financing includes fixed rate and adjustable rate mortgages, jumbo loans, FHA and VA loans, interest-only loans, construction or lot loans, and Good Neighbor loans with low down payment and flexible funding. Also available are refinance mortgages, equity loans and lines of credit, vehicle financing and student loans.

Banking and investment services

Banking services include Internet banking, online bill payment, mobile and telephone banking, and overdraft protection.

Fifth Third Bank offers wealth management services, private banking, risk management, trust services and wealth planning.

Deposit insurance

Fifth Third Bank is a member bank of the Federal Deposit Insurance Corporation. The temporary increase in FDIC coverage from $100,000 to $250,000 per depositor was made permanent in July 2010. All eligible deposits are FDIC-insured up to at least $250,000 per depositor. Joint accounts are FDIC-insured up to at least $250,000 per account holder.