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Fifth Third Bank Personal Loans Calculator & Overview

Carla Soto
Carla Soto
Updated 19 Aug 2023
Fact checked

Fifth Third Bank logo

Fifth Third Bank (5/3 Bank) is a not-for-profit financial cooperative that was founded in 1935. The name “Fifth Third” is a combination of the names of the two predecessor banks (Third National Bank and Fifth National Bank), which merged in 1909. In 2020, Fifth Third originated over 50,000 mortgages valued at $10 billion. They offer a full range of products and services for personal banking, including personal loans, investment management, and financial planning.

Getting a loan is a big step financially and shouldn’t be taken lightly. Hunt around so you can have a good chance of finding a lender who may offer you a lower rate with better terms. Interested in a Fifth Third Bank personal loan? Get a glimpse of how much you can afford to borrow (and pay back) by using the Fifth Third Bank personal loans calculator.

Personal loans have an annual percentage rate (APR) varying from around 3% to 36% APR. The interest rates you can receive will depend on a range of factors, such as your credit score, income, and debt-to-income ratio. On a loan of $10,000 over 5 years, the cost could vary between $10,781 and $21,680. The interest cost is between $781 and $11,680.

General facts about Fifth Third Bank personal loans

A Fifth Third Bank unsecured personal loan offers a wide range of loan amounts for the right borrower. There are no prepayment fees or closing costs. Rate discounts are available for automatic payments.

Here’s a quick snapshot of the features and benefits of a Fifth Third Bank personal loan:

  • Loan amounts: $2,000 to $50,000
  • Loan terms: from 12 to 60 months
  • Loan fees: $25 origination fee; $0 prepayment penalty; $0 annual fee
  • Interest rates: From 6.99% to 19.49% APR
  • Required credit score: minimum 600
  • Discounts: 0.25% discount for automatic payments

Requirements for a Fifth Third Bank personal loan

Fifth Third Bank does not have a specific list of borrower criteria. However, most lenders expect loan applicants to submit documents related to the following requirements:

  • Proof of identity: Submit a copy of government-issued IDs such as a driver’s license, passport, or birth certificate to prove that you are at least 18 years old and with a permanent US address.
  • Capacity to pay: For employed individuals, submit pay stubs or employer contact information; for self-employed individuals, submit bank statements or tax returns.
  • High credit score: The minimum is at least 600; ideally, a score of 700 is better.
  • Low DTI ratio: It should be lower than 40% although some lenders will approve those with a debt-to-income ratio of up to 50%.

 

Fifth Third Bank personal loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
Sort loans by

Loan Amount

$20,000

Term

3 months

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Fifth Third Bank

Fifth Third Bank personal loans

Fifth Third Bank personal loans
Estimated Month Repayments
$608 Inclusive of fees
Interest Rate
5.99%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$2,000
to $25,000
Go to site
Whether your needs are large or small, we offer personal loan and line of credit options with fast and easy access to money for what matters to you.
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Wells Fargo

Wells Fargo personal loans

Estimated Month Repayments
$606 Inclusive of fees
Interest Rate
5.74%
APR
Repayment Period
12 months
to 84 months
Loan Amounts
$3,000
to $10,000
Go to site
Checking and savings accounts and credit cards for your everyday business expenses and cash management.
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Eastman Credit Union

Eastman Credit Union personal loans (Shared Secured Personal Loan)

Estimated Month Repayments
$848 Inclusive of fees
Interest Rate
29.90%
APR
Repayment Period
12 months
to 12 months
Loan Amounts
$1,000
to $20,000
Go to site
ECU offers extraordinary products & services that make life just a little easier.

SeeLoans.com provides factual information about financial products. While SeeLoans.com attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on SeeLoans.com is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product, you will be dealing directly with that provider and not with SeeLoans.com. SeeLoans.com recommends reading the relevant product disclosure statement or product guide before taking up any financial product offer. Please view SeeLoans.com's Terms of Use for more information.

Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

 

Pros and cons of Fifth Third Bank personal loans

Pros

  • Wide range of borrowing limits
  • Easy online application for loan amounts up to $25,000
  • Ability to select first payment date up to 45 days out
  • Starting APRs lower than those from other lenders
  • Loan amounts from $2,000 to $50,000
  • Rate discounts for automatic payments

Cons

  • Does not accept borrowers with no or low credit
  • Has origination fee
  • Hard credit inquiry
  • Branches are available in 11 states only
  • No co-signers permitted
  • No income requirements listed

Frequently asked questions

How much can I borrow from Fifth Third Bank?

You can borrow between $2,000 and $50,000.

What are the repayment options for a Fifth Third Bank personal loan?

The loan can be repaid over a period between 12 months and 60 months.

What is the interest rate for a Fifth Third Bank personal loan?

Potential rates start at 6.99% and can go as high as 19.49% APR.

How much of a credit score do I need to get a personal loan from Fifth Third Bank?

You have to have a minimum credit score of 600 to be eligible.

Are there any discounts on Fifth Third Bank personal loans?

Yes. If you set up automatic payments for your personal loan at Fifth Third Bank, you are entitled to 0.25% rate discounts.

Video: Better banking with Fifth Third Bank

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Carla Soto
Carla Soto

Carla is a skilled copywriter at BestFind with a background in marketing and communications. She specializes in reviewing personal loan and finance products to help readers navigate the complex world of personal finance.

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