CINCINNATI, Ohio — Leaders at Fifth Third Bank announced Wednesday a number of new deferral programs aimed at bringing to relief to those financially impacted by coronavirus.
"Our goal is to stand with our customers to help them and our communities get back on their feet," Fifth Third chairman, president and CEO Greg D. Carmichael said in statement.
Here are the new programs being offered:
- Vehicle Payment Deferral Program: The bank is offering a payment deferral for up to 90 days and no late fees during the deferral period.
- Credit Card Deferral Program: The bank is offering a payment deferral for up to three payments and no late fees during the deferral period.
- Mortgage and Home Equity Program: The bank is offering 90-day payment forbearance with no late fees.
- Small Business Payment Deferral Program: The bank is offering a payment deferral program for up to 90 days, no late fees and a range of loan modification options. We are waiving all fees on our Fifth Third Fast Capital loans for 6 months.
- Fee Waiver Program: The bank is offering to waive fees for up to 90 days for a range of consumer and small business deposit products and services.
- The bank is suspending initiating any new repossession actions on vehicles for the next 60 days.
- The bank is suspending all foreclosure activity on homes for the next 60 days.
Fifth Third leaders recommend customers utilize all of the digital banking tools and resources for self-serve banking, including access through mobile, online and voice services. The bank also has 53,000 fee-free ATMs across the United States.
Customers with questions or concerns are instructed to check out the bank's online support page available at 53.com as the first point of contact. However, representatives are also available at 800-972-3030 Monday through Saturday.
Be aware that due to high demand, call wait times may be longer than normal.