Earnings on withdrawals not used for qualified higher education expenses may be subject to federal income tax and a 10% federal tax penalty.

Please consult an accountant or tax advisor for professional advice on these areas. * Fifth Third Bank does not provide tax or accounting advice. When your account is closed you will forfeit any accrued interest. This method applies a daily periodic rate to the balance in your account each day. Do you like keeping tabs on financial markets and following interest rate forecasts A 12- or 24-month Bump CD might be a good choice. The Bank uses the daily balance method to calculate interest on your account. Interest on your account will be compounded continuously and credited monthly. 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). According to the FDIC, average APYs on CDs with terms spanning from one month to five years ranged from 0.23 to 1.85 as of November 20, 2023. Please visit for more information about FDIC insurance coverage. The standard insurance amount is $250,000 per depositor, for each deposit insurance ownership category. Financial Insights About Us Customer Service Online Banking Login Branch & ATM Locator SearchįDIC Deposit Insurance. Deposit balances are insured up to the maximum amount permitted by law.Additional Sources of Capital for Small Businesses Though Ivy Bank’s High-Yield Savings Account requires a large minimum opening deposit and balance to earn interest, its super competitive rate of 5.30 APY could make it worth it to keep money.

Cd with highest interest rate