529 Savings Account†
Save for your child's or grandchild's future education expenses with this safe and low-cost savings account. The 529 savings account allows your money to grow over time with the security of both FDIC insurance and 529 tax advantages. The Ohio Tuition Trust Authority offers various college savings options under its College Advantage 529 Savings Plan (including this savings account) to anyone, regardless of state residency, who would like to save for future college expenses.
Before you invest, consider whether your home state offers a 529 plan that provides its taxpayers with state tax and other benefits not available through this plan.
529 Savings Account Features
If you would like additional information or wish to open a Fifth Third 529 savings account, please fill out a secure online application at CollegeAdvantage™ or call 1-800-AFFORD-IT (1-800-233-6734).
What Will it Take to Save for College?
* Earnings on withdrawals not used for qualified higher education expenses may be subject to federal income tax and a 10% federal tax penalty.
** Annual Percentage Yield (APY) is accurate as of 09/13/13. 0.10% APY will be paid on balances under $5,000. 0.20% APY on balances of $5,000 to $9,999. 0.30% APY on balances of $10,000 to $24,999. 0.40% APY on balances of $25,000 to $49,999. 0.50% APY on balances of $50,000 to $99,999. 0.55% APY on balances of $100,000 or more. Rates may change after account is opened. $25 minimum deposit required to open the account.
† CollegeAdvantage is offered and administered by the Ohio Tuition Trust Authority. CollegeAdvantage is described in the current Offering Statement and Participation Agreement, which includes investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before opening an account. Participation in the Fifth Third Bank options does not guarantee that contributions plus earnings will be adequate to cover future college expenses; contributions and earnings are not guaranteed by the state of Ohio or the Ohio Tuition Trust Authority. For a current copy of the Offering Statement, go online at www.collegeadvantage.com, call 1-800-AFFORD-IT (233-6734) or ask a Fifth Third Bank representative.
Fifth Third Bank does not provide tax advice; consult your tax advisor.