Fifth Third Bank high-yield savings accounts

Looking for a savings account with an excellent interest rate? Well, these days you might have to rethink your definition of “excellent” when it comes to rates. Sometimes I wonder if you’re better off just hiding money under your mattress.

But since something is better than nothing, let’s look at some of what’s available out there when it comes to savings accounts.

Big bucks, big yield

Fifth Third Bank offers several savings account options, including their High Yield Savings Account. What does Fifth Third consider a high yield? For balances up to $24,999 the interest rate is currently 0.05 percent. Maintain a balance between $25,000 and $49,999 and your money will earn 0.10 percent.

Balances between $50,000 and $99,999 are currently earning 0.20 percent and for those between $100,000 and $499,999 you will earn 0.30 percent.

For the High Yield Savings Account a minimum deposit of $50 is required, and your account is charged a $15 monthly maintenance fee unless your balance is above $25,000, so this type of account is obviously better for larger balances. Fifth Third does offer ATM access for their high-yield account, and like many banks it also offers free online banking and bill payment services, as well as…

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