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Fifth Third personal loans: 2024 review

Updated on Aug. 5, 2024

At a glance

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4.5
Rating: 4.5 stars out of 5
Bankrate Score
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Availability
Rating: 4.7 stars out of 5
4.7
Affordability
Rating: 4.7 stars out of 5
4.7
Customer Experience
Rating: 4.7 stars out of 5
4.7
Transparency
Rating: 4 stars out of 5
4.0

About Bankrate Score

Bankrate's take: Fifth Third offers competitive personal loans for current and future bank members. It stands out for its flexible payments and low minimum loan amount.

Lender Details

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Loan amount

$2,000-$50,000

Rates Icon

APR from

8.74%-21.74%

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Term lengths

12-60 months

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Min Credit Score

660

Best for flexible payments

Unlike many lenders, Fifth Third allows you to pick your first repayment day — up to 45 days after you receive your loan funds. You also have a grace period of 10 days before a payment is considered late, which gives you the ability to match your payments to your own schedule. Additionally, their 12-month loan term option is unusually short.

Fifth Third personal loan purposes

Fifth Third’s website doesn’t lay out any restrictions on how you use your loan funds. However, most lenders don't allow borrowers to use personal loans for secondary education, gambling, investing or illegal activities. 

Check with Fifth Third to confirm that your loan purpose is allowed before you submit an application.

Where Fifth Third personal loans stand out

  • No origination fee: Fifth Third does not charge an origination fee. If your loan is funded, 100 percent of the loan will go into your bank account.
  • Flexible first payment date: You can choose your due date up to 45 days after you receive your loan funds. Interest will still accrue during this time, but it gives you more say in when you will pay each month.
  • Additional loan products: Besides its unsecured “Signature Loans,” Fifth Third offers personal loans secured by your Fifth Third savings, CD or Investment account. Amounts range up to $500,000 and offered annual percentage rates (APRs) are smaller than on unsecured loans. 

Where Fifth Third personal loans fall short

  • Fifth Third account required to apply online: If you want the convenience of an online application, you will need a Fifth Third account. Otherwise, you will be stuck visiting a branch. 
  • Only available in 34 states: Fifth Third loans are not nationally available. Only residents of the states where it offers loans are eligible to apply.
  • In-person application required for loans over $25,000: While most online lenders — and quite a few banks — have their applications entirely online, Fifth Third requires an in-person visit for larger loans.

Fifth Third customer experience

Borrowing from a brick-and-mortar institution comes with the benefit of in-person and online support. Even so, compare other personal loan rates before making your final decision. 

Customer support 

You can contact Fifth Third by visiting a branch or messaging them through your Fifth Third account. You can also call its customer service line at 1-800-972-3030. Its call center is open Monday through Friday from 8 a.m. to 6 p.m. ET and on Saturday from 10 a.m. to 4 p.m. Branch hours vary by location.

Digital experience 

The personal loan application and management are part of the same ecosystem as Fifth Third’s banking products. Non-members must register in the online banking system to apply. 

What people are saying about Fifth Third

Fifth Third has under 200 reviews on Trustpilot, averaging 1.3 stars. The bank has not claimed its Trustpilot page and reviews commonly skew especially negative on unclaimed profiles. Most reviews are about its banking services or auto loans, rather than personal loans. The majority of complaints reference poor customer service and a frustrating online experience.  Here’s one what unhappy borrower had to say:

“Long-time 5/3 customer both business and personal; branch people are friendly, but poorly trained. The call center and online banking are perpetual nightmares, and it never gets better. I would strongly avoid this bank. Once my time frees up, I am going to close all my accounts with them.”

Trustpilot User

Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate. Please see the issuer’s website for updated terms and conditions.

How this lender compares

logo
Rating: 4.5 stars out of 5
4.5
Bankrate Score
APR from
8.74%-21.74%
Loan Amount
$2,000-$50,000
Term Length
12-60 months
Min Credit Score
660
logo
Rating: 4.7 stars out of 5
4.7
Bankrate Score
APR from
6.99%-25.29% *with AutoPay
Loan Amount
$5,000-$100,000
Term Length
24 to 84 months
Min Credit Score
695
logo
Rating: 4.7 stars out of 5
4.7
Bankrate Score
APR from
9.99%-23.99%
Loan Amount
$2,000-$50,000
Term Length
36 to 60 months
Min Credit Score
Not disclosed

Fifth Third vs. Upgrade

Fifth Third beats Upgrade in terms of APR — its maximum rate is lower and it doesn’t charge an origination fee like Upgrade. But Upgrade is a good option if you want quick funding on small loans. You can borrow up to $50,000 just like with Fifth Third, and the process is entirely online. Also, Upgrade lets you repay your loan over 24 to 84 months, while Fifth Third limits you to a maximum loan term of 60 months.

See our Upgrade vs. Fifth Third guide

Fifth Third vs. Laurel Road 

Fifth Third offers a slightly lower minimum and maximum APR than Laurel Road. However, Laurel Road stands out by offering personal loans for specific purposes — including some that many lenders don’t allow. For example, you can borrow up to $35,000 to fund business expenses. The platform also offers special lower rates and higher maximum loan amounts for healthcare professionals.

Read a full comparison of Fifth Third vs. Laurel Road

Do you qualify?

Fifth Third does not state a minimum income or credit score requirement. However, most lenders will want to see a good credit score — typically 670 or above — when you apply. Other common criteria include: 

  • U.S. citizen or permanent resident.
  • At least 18 years old.
  • Verifiable bank account and sufficient credit history.
In addition, you will need to live in one of the 34 states where Fifth Third offers loans. Excluded states are Alabama, Colorado, Idaho, Iowa, Kansas, Louisiana, Maine, Massachusetts, Mississippi, Nebraska, Oklahoma, Texas, Utah, Vermont, Wisconsin and Wyoming.
 

How to apply for a personal loan with Fifth Third

Fifth Third allows you to apply online if you have an open account and need a loan of $25,000 or less. To complete the application, you will need to submit information about your finances as well as your identity. While Fifth Third does not specify what documents you will need to provide, most require proof of income and a few basic details.

You must visit a branch to apply if you want to borrow more than $25,000. You will also need to visit a branch if you do not have an account — although you can open one when you apply online.

How Bankrate rates Fifth Third

Overall Score 4.5 Explanation
Availability 4.7 Fifth Third has a minimum loan amount and speedy approval but slower funding.
Affordability 4.7 Borrowers can secure competitive APRs and discounts.
Customer Experience 4.7 The bank has comprehensive support and online access.
Transparency 4.0 Fifth Third’s website clearly lays out its rates but does not explain credit requirements.

Methodology

Bankrate's trusted personal loans industry expertise

48

years in business

30

lenders reviewed

20

loan features weighed

665

data points collected

Bankrate considers 20 factors when reviewing lenders. Credit requirements, APR ranges, fees, loan amounts and flexibility are all taken into account so that ratings are representative of how competitive lenders are for a wide range of credit profiles and budgets. The Bankrate Score for personal loans consists of four categories:

  • Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
  • Affordability: The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score.
  • Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.
  • Transparency: This category is measured by how accessible credit requirements, rates and fees are on the lender's page. We also considered whether prequalification was available, as all these factors are key for consumers to make an informed decision.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

What customers think

CTA Fifth Third Bank
PERSONAL LOAN

Fifth Third Bank

Dive into community reviews below and see what others think about Fifth Third Bank.

4.3 Star Icon
25 ratings
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Score breakdown
5 stars
40%
4 stars
52%
3 stars
8%
2 stars
0%
1 star
0%
Score by category
Overall rating 4.3 / 5
Fees & closing costs 4 / 5
Funding time 4.3 / 5
Customer service 4.4 / 5
Application process 4.3 / 5
Online portal or mobile app 3.9 / 5
Verified Badge Icon

In July 2024, Bankrate collaborated with a third-party vendor to survey 1.3K loan borrowers nationwide. Bankrate and our vendor collected and summarized borrower responses to five questions on a 5-point scale, three yes/no questions, as well as open-ended reviews of their loan experience. Responses are based on individual borrower’s product details, and therefore cannot be verified for accuracy. User ratings are unedited and have not been reviewed or approved by the associated lenders, nor do these ratings reflect Bankrate’s own expert review of these loan products.

Community Reviews

See what users like you are saying about Fifth Third Bank.
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Anonymous Borrower
August 20, 2024
Describe why you selected this lender
I selected Fifth Third Bank due to its strong reputation, comprehensive range of financial services, excellent customer service, advanced technology for online and mobile banking, active community involvement, and competitive rates and offers.
Loan purpose
Home project loan
Score by category
Fees & closing costs 4 / 5
Funding time 3 / 5
Online portal or mobile app 3 / 5
Customer service 2 / 5
Application process 4 / 5
Anonymous Borrower
August 20, 2024
Describe your experience with customer service
My experience was very good !
Loan purpose
Debt consolidation
Score by category
Fees & closing costs 5 / 5
Funding time 5 / 5
Online portal or mobile app 3 / 5
Customer service 5 / 5
Application process 5 / 5
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