Fifth Third High Yield Savings Account: 2026 Review

If you searched for a Fifth Third high yield savings account, here is the honest headline up front: Fifth Third does not market a true high-yield savings account, and its main savings product pays a rate that is far below what online banks offer. As of July 2026, the Fifth Third Momentum Savings account pays just 0.01% APY.

That does not mean the account is useless. It can make sense for convenience if you already bank with Fifth Third. But if your goal is to actually grow your savings, you should know the numbers first. Let's break them down.

Note: this article covers Fifth Third's regular savings account. If you are looking for the Fifth Third health savings account, that is a separate product with its own tax rules.

Key facts at a glance

Rates and fees are set by Fifth Third and can change at any time.

Does Fifth Third have a high-yield savings account?

Not in the way most people mean. A high-yield savings account typically pays well above the national average, and in mid-2026 the top online accounts paid roughly 4.15% to 4.20% APY. Fifth Third's Momentum Savings pays 0.01% APY across every balance tier.

There are no rate jumps for larger balances, so keeping more money in the account does not earn you a better rate. Fifth Third sometimes runs promotional CDs with higher fixed rates, but its standard savings account is not a high-yield product.

If a competitive APY is your main goal, this account will not deliver it.

Momentum Savings fees and how to avoid them

Momentum Savings charges a $5 monthly service fee. The good news is that Fifth Third waives it if you meet any one of a few conditions.

You can avoid the fee by keeping an average monthly balance of $500 or more, holding an eligible Fifth Third checking account, being under 18, or being enrolled in Fifth Third Military Banking. For many existing customers, linking the savings account to a Fifth Third checking account is the easiest waiver.

Still, a waived $5 fee does not make up for a 0.01% APY. On a $5,000 balance, that rate earns roughly 50 cents a year.

What that low rate actually costs you

The gap between 0.01% and 4% is easy to underestimate, so here is the math. On a $10,000 balance held for a year, Momentum Savings at 0.01% APY earns about $1 in interest.

The same $10,000 in a high-yield account at 4% APY earns roughly $400 in a year. That is a difference of nearly $400 for the same deposit, simply because of where you keep it.

That is the real cost of a low-rate savings account. Your money is safe and FDIC-insured, but it is barely growing.

Who the Fifth Third savings account fits

Despite the rate, the account is not automatically the wrong choice. It can work if you value having your savings sit right next to your Fifth Third checking account, with instant transfers and one login.

It may also suit people who keep only a small buffer in savings and prioritize branch access over yield. Fifth Third operates a large branch network across the Midwest and Southeast, which some savers prefer over online-only banks.

But if you are holding a meaningful emergency fund or saving toward a goal, the low APY works against you every month.

Where to find a real high-yield rate

If earning more on your savings is the priority, you have better options. Online banks and digital banking apps routinely pay far more than traditional brick-and-mortar savings accounts.

A digital banking platform like Current Banking offers savings features with competitive rates and no monthly maintenance fees, which removes the fee-waiver hoops entirely. You can keep a small amount at Fifth Third for branch access while moving the bulk of your savings somewhere it earns more.

Chime is another app-based option, with no monthly maintenance fees and automatic savings features that help your balance grow faster than a 0.01% APY ever could. Whatever you choose, confirm the current APY and any fees before you open, since rates move often. No savings account is entirely without risk, since a low rate can lose value to inflation over time.

What Users Commonly Report

Customers frequently praise the convenience of keeping Momentum Savings linked to a Fifth Third checking account, along with easy transfers and access to physical branches. Those who qualify for the fee waiver often say the account works fine as a simple place to stash cash.

The most common complaint by far is the interest rate. Reviewers regularly point out that 0.01% APY is far below online competitors, and some mention frustration with the $5 monthly fee when they slip below the balance requirement. Several say they moved most of their savings elsewhere to earn a real return while keeping only a small balance at Fifth Third.

Frequently Asked Questions

Does Fifth Third offer a high-yield savings account?

Not a true one. Its Momentum Savings account pays 0.01% APY as of July 2026, well below the roughly 4% offered by top online high-yield accounts. Fifth Third does sometimes offer promotional CDs with higher fixed rates.

What is the APY on Fifth Third Momentum Savings?

As of July 2026, Momentum Savings pays 0.01% APY on all balance tiers. There are no higher rates for larger balances.

How do I avoid the Fifth Third savings monthly fee?

The $5 monthly fee is waived if you keep an average monthly balance of $500 or more, have an eligible Fifth Third checking account, are under 18, or are enrolled in Fifth Third Military Banking. Meeting any one condition removes the fee.

Is my money safe in a Fifth Third savings account?

Yes, in terms of deposit safety. Fifth Third Bank is a Member FDIC institution, so eligible deposits are insured up to $250,000. The main downside is the low interest rate, not the safety of your principal.

Rates and fees are current as of July 2026 and can change at any time. This article is for general information and not financial advice. Confirm details directly with Fifth Third before opening an account.