To celebrate Fifth Third Day on May 3 (5/3 Day) and Ohio 529 CollegeAdvantage on May 529 (529 Day), special promotional rates will be introduced to encourage families to save for their children or grandchildren’s college or career training with these FDIC-insured 529 CDs.
Ohio 529 CollegeAdvantage and Fifth Third Bank have been helping families save for their children’s college and career training since 2005. With the 529 Certificate of Deposits (CDs) offered through Fifth Third, more conservative investors and families whose beneficiaries are closer to using their accounts for education after high school can enjoy the security of these FDIC-insured options as well as the tax advantages of saving with Ohio 529.
New rates
Effective May 5, 2025, special promotional rates for three terms of Fifth Third 529 CDs will be adjusted. Due to the processing of CD purchases, these adjustments will go into effect for any CD purchases received in good order after 4 p.m. EST Friday, May 2, 2025.
These promotional rates will end at 4 p.m. Thursday, June 5 so make sure to take advantage of these rates before then.
The rates for the Fifth Third 529 Certificates of Deposit (CD) are:
- For the 3-5 Month 529 CD, the promotional rate will be 4.25% Annual Percentage Yield (APY)
- For the 6-11 Month 529 CD, the promotional rate will be 4.00% APY.
- For the 12-23 Month 529 CD, the promotional rate will be 3.50% APY
For the current rates of all Fifth Third FDIC Insured Options, visit Fees and Facts.
How to save in the Fifth Third banking options in Ohio 529
If you would like to open a Fifth Third 529 CD, you first need to open a CollegeAdvantage Direct 529 Plan. It’s simple to go online to open an account in minutes and select a Fifth Third Savings Account or purchase a Fifth Third 529 CD. The minimum contribution to open a Fifth Third 529 CD, at any term, is $500. You cannot purchase a CD with payroll deduction or automatic recurring contributions.
CollegeAdvantage Direct 529 Plan account owners can also purchase a CD online. Log in to your Direct Plan account. To purchase a Fifth Third CD, make a one-time electronic contribution of $500 or more from your bank account to buy a CD. When you select a CD, choose the term of maturity that would best fit your family’s needs.
After logging in, you can also go to “Change Your Investment Options” section to exchange a current investment with a $500 minimum to buy a CD or at any amount to open a savings account. Another option is to download an Additional Contribution Form and mail it with a check to purchase a CD.
Two business days are required to complete the transaction to open a Fifth Third 529 CD. Accordingly, the FDIC-insured investment option will receive the APY in effect on the business day following the receipt of a contribution, received in good order before 4 p.m. on any given business day.
Once the 529 CD reaches the end of its term, the balance will automatically transfer to a Fifth Third 529 Savings Account in 3 to 5 business days. At this point, you can make a withdrawal or exchange the funds to another Fifth Third 529 CD or any other Ohio 529 Plan investment option. You can also opt to leave the money in the savings account to earn interest. If the 529 CD is liquidated prior to its date of maturity, penalties will be assessed.
Both Fifth Third 529 Savings Account and the Fifth Third 529 CDs are FDIC-insured investment options to certain limits.
Visit Ohio 529 online to start saving today for your child’s education. A 529 account can be used for whatever education comes after high school—including four-year colleges and universities, community colleges, technical, trade or vocational schools, apprenticeships and certificate programs. Learn, plan, and start with Ohio 529 today at CollegeAdvantage.com.
