For CD terms not ending in a complete monthly period, simple interest will be paid for the last period. For CDs with a term of one month or less, the simple interest method is used, interest is not compounded and interest is paid at maturity. For CDs issued in an amount of $100,000 or more and with a term greater than one month, interest is compounded and credited monthly if "Capitalized" is selected as the interest payment method. For CDs issued in an amount less than $100,000, 529 Plan CDs and IRA CDs (regardless of issue amount), interest is compounded continuously.This method applies a periodic rate to the balance in the account each day.
Interest will be calculated using the daily balance method. Interest begins to accrue on the business day of deposit. A withdrawal of interest will reduce earnings. The annual percentage yield assumes interest remains on deposit until maturity. The interest rate will remain the same until the maturity date of the CD**.
The Fifth Third Health Savings Account earns interest.Please refer to the HSA product page for pricing information and other important disclosures. HSA account fees are disclosed at time of account opening.Earnings on withdrawals not used for qualified higher education expenses may be subject to federal income tax and a 10% federal tax penalty.
DIFFERENCE BETWEEN FIXED VARIABLE AND PERIODIC EXPENSES PROFESSIONAL
Please consult an accountant or tax advisor for professional advice on these areas. Fifth Third Bank does not provide tax or accounting advice.The Bank uses the daily balance method to calculate interest on your account. Your interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). The Bank may change the interest rate and annual percentage yield (APY) at any time without notice. Please request a Rate Sheet for the interest rates and Annual Percentage Yields (APYs). Please visit for more information about FDIC insurance coverage. The standard insurance amount is $250,000 per depositor, for each deposit insurance ownership category.
Deposit balances are insured up to the maximum amount permitted by law. Account must be funded within 45 days of opening or account may be closed.įDIC Deposit Insurance. No minimum deposit required to open a checking or savings account.
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