PNC Bank offers flexibility with its certificate of deposit (CD) accounts. You can open a standard Fixed Rate CD for term lengths ranging from one month to 10 years. But across the board, PNC Bank CD rates aren’t as high as those of some online banks, and they don't come close to the best CD rates we've encountered. However, PNC Bank CDs may be a viable option if you prefer to handle all your financial needs at a single bank with access to people face-to-face.
To calculate how much interest you could earn with a CD, try using SmartAsset's CD calculator.
Fixed Rate Multiple Maturity CD
PNC Bank’s CD interest rates vary depending on where you open your account. For the purpose of this article, we will be referring to the current rates that apply to branches within the bank’s headquarters in Allegheny County, Pennsylvania, with a zip code of 15222.
Fixed Rate Multiple Maturity CDs are the bank’s standard options. You can open a Fixed-Rate CD with terms ranging from as little as seven days to as long as 10 years. But keep in mind that CDs are savings vehicles designed to lock in your money for a set amount of time. So if you withdraw your money before the term ends, you face a penalty.
If you’re not sure how long you can comfortably park your cash, you can prop up a CD ladder. This means you open multiple CDs with different term lengths. For example, you can open three CDs with terms lengths of 3 months, 6 months and 12 months. This strategy ensures you’d have access to your money plus a little bit of interest at different time intervals. Better rates exist when you open some standard savings accounts that allow easier access to your money.
The following table explains how your interest rate can climb with balance based on different term lengths. However, you’d need to deposit at least $5,000 to open any CD with terms of less than three months.
| Fixed-Rate CD | $1,000 - $9,999.99 | $10,000 - $24,999.99 | $25,000 - $99,999.99 | $100,000 - $499,999.99 | $500,000+ |
| 1 Month | 0.02% | 0.02% | 0.03% | 0.03% | 0.03% |
| 3 Month | 0.02% | 0.02% | 0.03% | 0.03% | 0.03% |
| 6 Month | 0.02% | 0.02% | 0.03% | 0.03% | 0.03% |
| 12 Month | 0.02% | 0.02% | 0.03% | 0.03% | 0.03% |
| 18 Month | 0.02% | 0.02% | 0.03% | 0.03% | 0.03% |
| 24 Month | 0.02% | 0.02% | 0.03% | 0.03% | 0.03% |
| 36 Month | 0.02% | 0.02% | 0.03% | 0.03% | 0.03% |
| 48 Month | 0.02% | 0.02% | 0.03% | 0.03% | 0.03% |
| 60 Month | 0.02% | 0.02% | 0.03% | 0.03% | 0.03% |
| 84 Month | 0.02% | 0.02% | 0.03% | 0.03% | 0.03% |
| 120 Month | 0.02% | 0.02% | 0.03% | 0.03% | 0.03% |
Ready Access CD
PNC Bank’s Ready Access CDs offer a little bit of wiggle room when you want to withdraw your money before your term ends, also known as the period of maturity. You have seven days after opening your Ready Access CD account to take your money out without facing a penalty.
These CDs are available in only term lengths of three months and 12 months, so they may suit you if you’re planning on using your money within a short span of time after depositing it. The table below illustrates rates by term length and balance.
| Term | Minimum Deposit | APY |
| 3 Month | $1,000 | 0.01% |
| 12 Month | $1,000 | 0.02% |
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Compare PNC Bank to Other Competitive Offers
Overview of PNC Bank CDs
CDs aren’t necessarily PNC Bank’s strong point. Overall, its interest rates are low compared to those some online banks offer. To earn a stronger interest rate, you’d need to deposit a sizable minimum balance and leave your cash in the account for a significant amount of time.
Opening a PNC Bank Fixed-Rate CD today for 12 months with $1,000 would earn an APY of just 0.02%, which won’t compete against the best money market accounts out there.
However, the bank does allow for some interesting ways to hike your interest rate and more than a few chances to withdraw your money without penalty. Nonetheless, you’d face a penalty for withdrawing your money from PNC Bank CDs unless you meet an exception such as one outlined above.
For Fixed-Rate CDs with terms from three months to one year, the early withdrawal penalty is forfeiting all the interest you earned. For terms longer than a year, you’d lose six months' worth of interest.
And if you take money out of a Ready Access CD before the term ends, you’d lose all interest earned.
How Much You Earn With PNC Bank Certificate of Deposits Over Time
Your money, unfortunately, won’t grow as much it would elsewhere if you invest in a PNC Bank CD unless you park a large amount of cash for a long period of time. But you can compare CD rates at other banks that may provide higher interest rates with fewer restrictions.
Below is what your balance would look like if you invest in the PNC Bank’s Fixed Rate CDs today. Interest rates are compounded and credited to your CD on a monthly basis.
| Initial Deposit | 3-Month CD | 60-Month CD | 120-Month CD |
| $1,000 | $1,000.05 | $1,001 | $1,002 |
| $10,000 | $10,00.50 | $10,010 | $10,020.02 |
| $100,000 | $100,007.50 | $100,150.09 | $100,300.41 |
How PNC Bank CDs Rates Compare to Other Banks
Being a financial service giant with several retail banking branches, PNC Bank faces some operating expenses that online banks don’t. This is one of the reasons its CDs don’t offer the strongest interest rates. But compared with some of the other major banks with physical branches, PNC CD rates start to shine a bit.
Chase bank CD rates are at times lower than those offered by PNC Bank. For example, Chase offers a 12-month CD with a minimum deposit of $1,000 and an interest rate of 0.01%. A Fixed-Rate CD that PNC Bank offers for the same minimum deposit and term length generates 0.02% interest rate.
If you’re ultimately comfortable getting all your banking done online, you can find much stronger CD rates with companies like Ally Bank and Marcus by Goldman Sachs.
| CD Account | PNC Bank | Chase | Ally Bank | Marcus by Goldman Sachs |
| 6 Months | 0.02% | 0.01% | 4.80% | 5.15% |
| 1 Year | 0.02% | 0.01% | 4.80% | 5.25% |
| 3 Years | 0.02% | 0.01% | 4.00% | 4.30% |
| 5 Years | 0.02% | 0.01% | 3.90% | 4.10% |
Should You Get a PNC Bank CD Account?
If you’re already a PNC Bank customer and prefer to consolidate all your financial accounts with a single firm, a PNC Bank CD may suit you. It’ll also help if you’re comfortable with leaving large amounts of money invested for a long time as this move could get you the best CD rates at PNC Bank. But if you’re fine with having multiple firms manage different accounts or are comfortable with meeting all your financial needs online, you may find more valuable CDs elsewhere.
For those loyal to PNC Bank, the firm runs retail branches across 19 states and the District of Columbia. You can open a CD account at any one of these. To do so, you’d need the following items:
- A government-issued photo ID (driver's license, U.S. passport or a state-issued ID)
- An e-mail address
- Employment information (if applicable)
- Existing bank account numbers (if funding your account electronically)
- A printer to print, sign and mail a registration page
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