Leaving $10,000 in a typical big-bank savings account earns you about $1 a year. That is the reality behind the 5th 3rd Bank savings account, officially named Fifth Third Momentum Savings. It works fine as a companion to Fifth Third checking, but as of July 2026 it pays just 0.01% APY, while many online savings accounts pay 3% or more.
This guide covers what the account pays, what it costs, how the fee waivers work, and when a different account may serve you better.
What the 5th 3rd Bank Savings Account Pays
Fifth Third's flagship savings product is Momentum Savings. Here are the key numbers:
| Feature | Details |
|---|---|
| APY | 0.01% (as of July 2026) |
| Monthly fee | $0 advertised; some fee schedules list $5 with waivers |
| Minimum to open | $0 |
| Minimum balance | None required |
| FDIC insurance | Yes, up to $250,000 per depositor, per ownership category |
| Branch access | Yes, mostly in the Midwest and Southeast |
At 0.01% APY, a $15,000 balance earns about $1.50 in interest per year. The same balance in an online account paying 3.40% would earn about $510. APYs are variable and can change at any time.
Fifth Third does offer helpful goal-based tools, like automatic transfers from checking and savings goal tracking. Those features can help you save consistently. The account just does not pay you much for it.
Monthly Fees and How to Avoid Them
As of July 2026, Fifth Third's website markets Momentum Savings as a no-monthly-fee savings account. Third-party reviews and some fee schedules still list a $5 monthly service charge that is waived when any of the following applies:
- You keep an average monthly balance of at least $500
- You have a linked Fifth Third checking account
- An account owner is under age 18
- You are enrolled in Fifth Third Military Banking
Fee terms can vary by region and by when the account was opened, so confirm the current fee schedule before you sign up. Either way, the fee is easy to avoid for most customers, since most people open savings alongside a Fifth Third checking account.
Relationship Rates and Other Fifth Third Savings Options
Fifth Third offers a few other savings products beyond Momentum Savings:
- Goal Setter Savings pays around 0.01% APY and is built for named savings goals, with a $25 minimum to open reported by reviewers.
- Preferred Savings pays roughly 0.01% to 0.03% APY depending on your relationship tier.
- Relationship Money Market can pay more than the basic savings account, with rates that improve at higher balances and with a linked Momentum or Preferred checking account.
Even with relationship pricing, Fifth Third's deposit rates generally sit far below what online banks pay. A bigger balance at Fifth Third mostly earns you fee waivers, not meaningful interest. Rates vary by market, so check your local rate sheet for exact numbers.
5th 3rd Bank Savings Account vs. High-Yield Savings
Here is how the account stacks up against a verified online competitor:
| Account | APY (as of July 2026) | Monthly fee |
|---|---|---|
| Fifth Third Momentum Savings | 0.01% | $0 advertised; $5 on some schedules, waivable |
| Marcus by Goldman Sachs Online Savings | 3.40% | $0 |
On a $15,000 balance, that gap is about $1.50 per year versus roughly $510 per year. Some online banks pay even more, though rates change often and vary by institution.
The tradeoff is access. Fifth Third gives you branches, cash deposits, and instant transfers to your Fifth Third checking account. Online savings accounts typically take one to three business days to move money to an external bank.
When Keeping This Account Makes Sense
Momentum Savings has one job it does well: overdraft protection. Link it to a Fifth Third Momentum Checking account and the bank automatically moves money from savings to cover a shortfall in checking, with no transfer fee.
A practical setup many savers use looks like this:
- Keep $500 to $1,500 in Momentum Savings as an overdraft buffer
- Keep everyday spending money in Fifth Third checking
- Move the rest of your savings to a high-yield account that actually pays interest
This way you keep the convenience of a branch bank without giving up hundreds of dollars a year in lost interest.
Better Places to Grow Your Savings
If your main goal is growth, pairing your Fifth Third accounts with a modern banking app or online savings account can make a real difference.
Current is a banking app with no monthly fees, no minimum balance requirements, and paychecks up to two days early with qualifying direct deposit. Its automated savings features make it simple to set money aside on a schedule, which is the habit that matters most for savers who are just getting started.
Current Banking
Current Banking
Current is a mobile-first banking app with no monthly fee and no minimum balance. Members can earn up to 4.00% APY with a qualifying direct deposit of $200, receive direct-deposit paychecks up to 2 days early, and overdraft up to $200 fee-free.
Standout feature
4.00% APY on Savings Pods (with a $200+ qualifying direct deposit) plus paycheck up to 2 days early — both included on the standard account for free
Fees
Free
Pros
$0 monthly fee; up to 4.00% APY on Savings Pods with qualifying direct deposit; paycheck up to 2 days early;
Cons
No physical branches
Chime is another popular no-monthly-fee option. Its savings feature pays far more than the 0.01% you would earn at Fifth Third, and its app makes automatic saving easy with round-ups and percentage-based transfers from direct deposit. Terms and conditions apply, and rates on any savings product can change over time.
Chime
Chime
- Fee-free banking plus early pay access - Overdraft up to $200 without fees - 5% cash back and build credit everyday. - 3.75% APY on your savings.
Standout feature
No credit check, no interest, no annual fee, and no minimum deposit required.
Fees
$0
Pros
Fee-Free Banking and Get paid up to 2 days early
Cons
App/online-only support, no branches
Both Current and Chime provide banking services through partner banks, and deposits are FDIC insured through those partners. They work well as a growth-focused layer on top of a branch bank, or as a full replacement if you rarely visit a branch.
Next Steps
If you already bank with Fifth Third, keep Momentum Savings as your overdraft buffer and check whether your fee is waived. Then compare a high-yield option and move the savings you will not touch this month. Even a 3% difference on $10,000 is about $300 a year, which is a meaningful return on ten minutes of setup.
Frequently Asked Questions
Is the 5th 3rd Bank savings account good?
It is convenient but not competitive on interest. As of July 2026 it pays 0.01% APY, while many online savings accounts pay 3% or more. It works best as an overdraft buffer linked to Fifth Third checking rather than a place to grow money.
What is the interest rate on Fifth Third Momentum Savings?
Momentum Savings pays 0.01% APY as of July 2026. Rates are variable, can differ slightly by region, and can change at any time, so confirm the current rate on Fifth Third's website before opening.
Does Fifth Third have a high-yield savings account?
Not in the way online banks do. Its Preferred Savings and Relationship Money Market accounts can pay slightly more than the standard 0.01% APY, but rates typically remain well below online high-yield accounts.
How do I avoid the monthly fee on a Fifth Third savings account?
Fifth Third currently advertises Momentum Savings with no monthly fee. Where a $5 fee applies, it is typically waived if you keep a $500 average monthly balance, link a Fifth Third checking account, are under 18, or are enrolled in Military Banking.
