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Cd Rates Increased

Just in time for year-end account contributions and holiday gift giving contributions, Fifth Third is offering higher rates on CollegeAdvantage 529 Certificates of Deposit (CDs) with terms of 24 - 119 months. Take advantage of these just-increased rates for terms of 24 – 119 months and maximize your tax benefit for 2014 by purchasing a CD before the end of the year. CDs require a minimum $500 contribution and can be purchased by parents, grandparents, or anyone for the benefit of your future college student. Click here for rates and information.

Below are the new rates currently in effect for CollegeAdvantage 529 CDs offered by Fifth Third:

 

CollegeAdvantage 529 Certificates of Deposit through Fifth Third

 

Percentage Increase over previous rate

CD Term

Current APY

 

3-5 Month CD

0.25%

0

6-11 Month CD

0.30%

0

12-23 Month CD

0.50%

0

24-35 Month CD

1.00%

0.30%

36-47 Month CD

1.25%

0.39%

48-59 Month CD

1.50%

0.41%

60-83 Month CD

2.00%

0.50%

84-119 Month CD

2.00%

0.25%

120-144 Month CD

2.00%

0

 

Existing Direct Plan account owners can purchase a CD online. Just log in to your Direct Plan account. You can also download an Additional Contribution Form and mail it with your minimum contribution of at least $500 to purchase a CD. New Direct Plan accounts can also be opened by enrolling online and purchasing a CD at the time of enrollment.

Upon maturity, CDs automatically transfer to a CollegeAdvantage Direct 529 Plan savings account with Fifth Third. You can withdraw the funds from the savings account, exchange funds to another Fifth Third 529 CD or to other CollegeAdvantage Direct Plan investment options (within IRC 529 restrictions), or leave the money in the savings account to earn interest. Please refer to the CollegeAdvantage Direct Plan Offering Statement and Participation Agreement for full details about CDs and investing with the CollegeAdvantage Direct 529 Savings Plan.

Fifth Third Bank, Member FDIC.

Posted on November 5, 2014

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