2025 Guide to Fifth Third Bank Personal Loan Options

Looking for a personal loan that’s flexible, fee-free, and quick to fund? A Fifth Third Bank personal loan might be what you’re after.

With both unsecured and secured loan options, attractive rates, and a choice of payment schedules, Fifth Third stands out, especially if you’re already a customer. This article dives deep into everything you need to know: loan types, rates, fees, application process, pros and cons, and more.

Fifth Third Bank Personal Loans at a Glance

Before exploring the details of Fifth Third Bank personal loan offerings, it’s helpful to understand the bank itself and what makes its lending services stand out.

Overview of Fifth Third Bank

Fifth Third is a well-known regional bank in the United States with deep roots in American banking history. It was originally established in Cincinnati, Ohio, back in 1858, and its name comes from a unique merger between two older banks: The Third National Bank and The Fifth National Bank. Instead of choosing one name over the other, the two merged their identities, creating the distinctive name “Fifth Third Bank.”

Today, Fifth Third Bank has grown into a major financial institution, operating roughly 1,100 full-service branches across 11 states, including Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, South Carolina, Tennessee, and West Virginia. This wide footprint allows the bank to serve millions of customers throughout the Midwest and Southeast regions.

In addition to its physical branches, Fifth Third also provides access to more than 2,400 ATMs, making it convenient for customers to withdraw cash, check balances, or deposit checks without stepping into a branch.

Fifth Third isn’t just about basic banking. It offers a complete range of financial services, such as personal loans, home mortgages, auto loans, credit cards, and home equity lines of credit (HELOCs). The bank also supports online and mobile banking, allowing customers to manage their accounts, pay bills, and track loans anytime, anywhere through a user-friendly mobile app.

With a strong presence, long-standing history, and a modern approach to digital banking, Fifth Third Bank continues to be a trusted choice for individuals and families looking for both everyday banking and borrowing solutions.

Overview of Fifth Third Bank Personal Loan Products

Fifth Third Bank provides a variety of personal loan and credit options to meet different financial needs. Whether you’re planning a home project, covering medical expenses, or need quick cash for an emergency, there’s likely a solution that fits.

The bank offers five main types of borrowing products:

• Unsecured Personal Loans
• Secured Personal Loans
• Unsecured Lines of Credit
• Secured Lines of Credit
• MyAdvance Short-Term Loans

Each product is designed to serve a different purpose, offering flexibility, competitive rates, and no prepayment penalties.

Fifth Third Bank Personal Loan Products

Fifth Third Bank offers several personal loan options designed to fit different financial needs and situations. Here’s a closer look at each one:

Unsecured Personal Loans

This is the most common loan type offered by Fifth Third. It’s designed for borrowers who want a fixed interest rate, consistent monthly payments, and no collateral required. That means you don’t have to use your home, car, or savings account to back the loan. Instead, the bank approves you based on your credit history, income, and other personal financial details.

Key Features:

• Loan Amounts: $2,000 to $50,000, depending on your qualifications.
• Terms: 12 to 60 months
• APR: 8.44% to 21.74% (as of March 2025)
• Application: Online for loans up to $25,000 (must be an existing customer)
• No Prepayment Penalty or Origination Fees
• Choose Your First Payment Date, up to 45 days after funding

This Fifth Third Bank personal loan type is ideal for:

• Debt consolidation
• Home improvement
• Medical expenses
• Major purchases

Since there’s no collateral involved, it’s a faster and simpler option for many borrowers. However, to get the best 5/3 personal loan rates, you’ll need a good credit score and stable income.

Secured Personal Loans

If you have funds in a Fifth Third savings account, CD, or investment account, you can use them as collateral for a personal loan. This helps reduce your borrowing cost.

Key Features:

• Loan Amounts: $2,000 to $500,000
• Collateral Requirement: 50% to 100% of asset value
• Terms: 12 to 60 months
• APR: 10.14% to 13.64%
• No Origination or Prepayment Fees

Secured loans are great if:

• You want a larger loan
• You have lower credit but solid savings or investments
• You’re comfortable leveraging assets to get better terms

Just remember, if you fail to repay the loan, the bank can claim the money from your collateral account.

Lines of Credit

If you don’t need a lump sum and prefer ongoing access to cash, a Fifth Third Bank personal line of credit might work better than a traditional loan.

Unsecured Line of Credit

• Credit Limit: $5,000 to $100,000
• APR: 9.75% to 11.25%
• Draw Period: 5 years
• Repayment Period: 10 years
• Annual Fee: $65 (waived in year one)

Secured Line of Credit

• Credit Limit: $72,000 to $500,000
• APR: 7.50% to 8.00%
• Collateral: 50% to 65% of the Fifth Third investment account
• Draw Period: 20 years
• Repayment: Interest-only during the draw period
• No Annual Fee

When to Choose a Line of Credit:

• You need funding over time
• You want flexibility in how and when you borrow
• You prefer to pay interest only on the amount you use

MyAdvance

In addition to traditional personal loans, Fifth Third also offers a product called MyAdvance. It is a short-term line of credit tied to your existing Fifth Third checking account.

Unlike a fixed-term loan, which gives you one lump sum, MyAdvance is revolving, meaning you can borrow, repay, and borrow again, as long as you stay within the limit and follow the rules.

Quick Facts:

• Loan Amounts: $1 to $1,000
• Fees: 5% cash advance fee
• Repayment Term: Up to 45 days
• Eligibility: Must have a qualifying deposit history

This Fifth Third Bank personal loan option is ideal for:

• Existing Fifth Third customers facing short-term cash flow issues
• Those needing money between paychecks or for emergency expenses

Fifth Third Bank Personal Loan Interest Rates and Fees

The bank offers competitive rates across its personal lending products, with no hidden fees like origination or prepayment penalties.

Fifth Third Personal Loan Rates & Terms

One of the best things about Fifth Third Bank personal loans is their clear and flexible rate structure. Your final interest rate, also called the APR (Annual Percentage Rate), depends on a few key factors: your credit score, the state you live in, and how much you borrow.

Let’s break it down:

• In general, borrowers with strong credit could qualify for Fifth Third Bank personal loan rates between 6.99% and 19.24%. That range is competitive with many national and online lenders.
• Loan terms are flexible. You can choose to repay the loan over 1 to 5 years, from 12 to 60 months, depending on your budget and how quickly you want to be debt-free.

What makes Fifth Third stand out is the option to choose your first payment date. You can delay your first payment for up to 45 days after receiving the funds, giving you some breathing room to plan.

Even better? The bank gives you a 10-day grace period for monthly payments. That means if you’re a few days late, you likely won’t be hit with a late fee right away.

In short, the loan terms are built to offer you some control and comfort, not just a rigid repayment schedule.

Fees & Discounts

Fifth Third keeps things simple and customer-friendly, especially when it comes to fees.

Here’s what you won’t have to worry about:

• Origination fee: $0. You don’t pay anything just to take out the loan.
• Prepayment penalty: None. If you want to pay off your loan early and save on interest, go for it.
• Late payment fee: Yes, it exists, but you have a generous 10-day grace period before it kicks in. This gives you a small cushion if your payment is delayed for any reason.

On top of that, the bank rewards responsible habits. If you set up automatic payments from your Fifth Third checking or savings account, you’ll receive a 0.25% discount on your APR. That may seem small, but over time it can help you save real money.

Here’s a simple breakdown of the interest rates (APR) and fees associated with each Fifth Third Bank personal loan type:

Fifth Third Bank Personal Loan Requirements

Now let’s talk about who can apply, and who’s likely to get approved.

To qualify for a Fifth Third personal loan, you need to meet a few basic requirements:

• Fifth Third Bank personal loan credit score: While the bank doesn’t publish a strict minimum, you’ll need a credit score of around 660 or higher to qualify for the most competitive rates. If your score is lower, you may still get approved, but expect a higher APR.
• Location matters: Fifth Third only operates in 11 states, so you need to be a resident of one of these states: Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, South Carolina, Tennessee, or West Virginia.
• Bank account: To apply for a Fifth Third Bank personal loan online, you must already have a Fifth Third checking or savings account. If you’re not yet a customer, you can still apply by visiting a local branch.
• Standard documents: Like most lenders, you’ll need to provide:
  • A valid government-issued photo ID
  • Your Social Security Number (SSN)
  • Proof of income (such as recent pay stubs or W-2 forms) and current employment.
  • Information about current debts (if you’re applying for debt consolidation)

These documents help the bank verify your identity, assess your ability to repay the loan, and match you with the right loan offer.

Even though you need a Fifth Third account to apply online, having an account might also help you get faster approval, and could qualify you for the APR discount with autopay.

Fifth Third Bank Personal Loan Application & Approval

Applying for a personal loan can feel stressful, but with Fifth Third Bank, the process is built to be smooth, fast, and convenient. Here’s a step-by-step look at how it works:

How to Apply for a Fifth Third Bank Personal Loan

There are three main ways to apply for a Fifth Third Bank personal loan:

• Online: Available for existing customers requesting up to $25,000.
• In-Person: Required if you are not a current customer or need more than $25,000.
• By Phone: You can call 1-866-671-5353 to speak with a banker or schedule an appointment.

Prequalification

Not sure if you’ll qualify for a Fifth Third Bank personal loan? Fifth Third offers a prequalification tool, and it uses a soft credit check, which means your credit score won’t be affected.

• You can see your estimated rate, term, and loan amount before applying officially.
• There’s no obligation to move forward if the offer doesn’t work for you.

This feature is especially useful if you want to compare Fifth Third with other lenders without hurting your credit.

Approval Timeline & Funding Speed

Once you submit your full application, here’s what typically happens:

1. Application review: Usually within minutes to a few hours, depending on how complete your application is.
2. Loan decision: In many cases, approvals are same-day.
3. Funding speed: If approved, your money could arrive as soon as the next business day, especially if you already bank with Fifth Third.

However, if you apply on a Friday, funds may not be available until Monday or Tuesday. Still, this is faster than many traditional banks and even some online lenders.

First Payment Flexibility

Once your loan is funded, you won’t be expected to make your first payment right away. Fifth Third lets you choose your first due date, up to 45 days after the loan is issued. This is a great feature for borrowers who need a little time to get organized or align payments with their pay cycle.

And remember that even after payments begin, there’s a 10-day grace period every month, so if you’re ever running a bit behind, you’ll have a cushion before late fees kick in.

Customer Support and Digital Experience

Managing your loan is easy thanks to Fifth Third’s strong digital platform and helpful customer service.

Fifth Third Bank Personal Loan Customer Service:

• Phone: 1-800-972-3030
• Hours:
  Mon–Fri: 8 a.m. – 6 p.m. ET
  Sat: 10 a.m. – 4 p.m. ET

Mobile App:

The Fifth Third mobile banking app lets you:

• View your loan balance
• Track payment history
• Make one-time or recurring payments
• Set reminders and notifications

It’s user-friendly and available for both Android and iOS devices.

Digital Tools:

• Fifth Third Bank personal loan calculator to estimate payments before applying
• Chat and secure messaging, available through the online platform
• Budgeting tools for smarter financial planning
• Educational articles on topics like debt consolidation, improving credit, and saving money

If you’re already a Fifth Third customer, the digital loan process is streamlined and integrated into your existing account dashboard.

Fifth Third Bank Personal Loan Pros and Cons

Before you apply for a Fifth Third Bank personal loan, it’s important to know both the upsides and potential limitations. The bank offers a solid personal loan program, but like any financial product, it’s not perfect for everyone.

Advantages:

• No Origination Fees or Prepayment Penalties
• Next-Day Funding Available
• Flexible First Payment Date
• Online Application for Customers
• Wide Range of Loan Amounts
• Multiple Products to Choose From

Drawbacks:

• Online Applications Only for Fifth Third Customers
• Not Available Nationwide (only in 34 states)
• Loans Over $25,000 Require Branch Visit
• Shortest Loan Term is 12 Months (for traditional loans)
• Secured Products Involve Asset Risk

FAQs About Fifth Third Bank Personal Loans

How do I apply for a personal loan at Fifth Third Bank?

• You can apply for a Fifth Third Bank personal loan online, by phone, or in person at a local branch. However, online applications are available only to existing Fifth Third customers.

What credit score is needed for a Fifth Third personal loan?

• To qualify for the best rates, you typically need a credit score of 660 or higher. While you may still get approved with a lower score, your interest rate may be higher, or you may need to apply for a secured loan instead.

Is Fifth Third Bank a good lender for personal loans?

• Fifth Third Bank is considered a reliable lender with no origination or prepayment fees, fast funding, and flexible payment terms. It suits borrowers with good credit in its 11-state service area, but isn’t ideal if you need a co-signer or a loan over $50,000.

How do I check the status of my Fifth Third personal loan application?

• You can track your loan application by logging into your Fifth Third online banking account or using the mobile app. If you applied in person or over the phone, you can also contact customer service for real-time updates.

How fast can I get a personal loan from Fifth Third Bank?

• If approved, funds are typically available by the next business day. Online applications for loans up to $25,000 are the fastest, especially for existing customers.

If you’re looking for a transparent, fee-free, and flexible loan, then Fifth Third Bank personal loan is a solid pick. The ability to schedule your first payment, skip fees, and get quick funding makes it convenient and straightforward. However, remember: your location, credit profile, and loan size needs will determine whether Fifth Third is the best option.