PNC Bank CD rates are much lower than those of most online banks. However, with terms ranging up to 10 years, few banks offer as much flexibility as PNC Bank.
Find out more about PNC Bank CD rates below, including how they compare to other CDs and whether they're a good fit for you.
- Our team of experts assessed 100+ banking institutions
- We evaluate all banking institutions across the same 4 key criteria: annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks
- Our bank ratings are never influenced by our advertising partners
- We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased
Robin Hartill, CFP®, is The Ascent’s Head of Product Ratings and has worked for The Motley Fool since 2020. Her work has appeared in various national publications, including Yahoo! Finance, NerdWallet, Investopedia, CNN Underscored, MSNBC, USA Today, and CNET Money. She previously wrote The Penny Hoarder’s syndicated “Dear Penny” personal finance advice column.
PNC Bank CD rates for 2024
Rates as of Sept. 12, 2024
APY = Annual Percentage Yield
PNC Fixed Rate CD
MINIMUM DEPOSIT $1,000
6 Mo. APY | 9 Mo. APY | 1 Yr. APY | 13 Mo. APY | 1.5 Yr. APY | 19 Mo. APY | 2 Yr. APY | 25 Mo. APY | 3 Yr. APY | 37 Mo. APY | 4 Yr. APY | 5 Yr. APY | 61 Mo. APY |
---|---|---|---|---|---|---|---|---|---|---|---|---|
up to 0.03% | up to 3.25% | up to 0.03% | up to 2.00% | up to 0.03% | up to 1.25% | up to 0.03% | up to 1.50% | up to 0.03% | up to 1.75% | up to 0.03% | up to 0.03% | up to 2.00% |
Is a high-yield savings account a better option for you?
A high-interest savings account offers rates competitive with the best CDs accounts, but without having to lock your money away for months or even years at a time. Here are some top-rated high-yield savings account options from our experts.
Account | APY | Promotion | Next Steps |
---|---|---|---|
Open Account for Capital One 360 Performance Savings OnCapital One'sSecure Website. Member FDIC. Rating image, 4.50 out of 5 stars. 4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | 4.25% Rate infoSee Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY)is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening.Min. to earn: $0 | N/A | Open Account for Capital One 360 Performance Savings OnCapital One'sSecure Website. |
Open Account for SoFi Checking and Savings OnSoFi'sSecure Website. Member FDIC. Rating image, 4.50 out of 5 stars. 4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | up to 4.50%² Rate infoYou can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.Min. to earn: $0 | New customers can earn up to a $300 bonus with qualifying direct deposits!¹ | Open Account for SoFi Checking and Savings OnSoFi'sSecure Website. |
Open Account for American Express® High Yield Savings OnAmerican Express'sSecure Website. Member FDIC. Rating image, 4.00 out of 5 stars. 4.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | 4.25% Rate info4.25% annual percentage yield as of September 16, 2024Min. to earn: $0 | N/A | Open Account for American Express® High Yield Savings OnAmerican Express'sSecure Website. |
PNC Bank Fixed CD Promotional Rates
PNC Bank offers promotional APYs on CDs with certain non-standard term lengths, including 9, 13, 19, 25, 37, and 61 months. At the end of your promotional term, your account will automatically convert to the standard CD term that is closest to but not greater than your original CD term based on the following standard CD terms: 6, 12, 18, 24, 36, and 60 months. In addition, your CD rate will convert to the rate applicable to the standard CD term.
For PNC Bank's promotional CD terms, you'll need to deposit at least $1,000 to get the listed interest rate. All PNC Bank CDs must have initial balances over $1,000.
Compare PNC Bank CD rates
PNC Bank CD interest rates are in line with other brick-and-mortar banks. However, they are much lower than the best CDs found online, especially as many don't have minimum deposit requirements. Compare CD rates below to PNC Bank CD interest rates to find the right CD account for your needs.
Rates as of Sept. 12, 2024
Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
---|---|---|---|---|
Discover® Bank CD Member FDIC. | APY:4.50% | Term:1 Year | Min. Deposit:$2,500 | Open Account for Discover® Bank CD OnDiscover Bank'sSecure Website. |
LendingClub CD Member FDIC. | APY:5.10% | Term:10 Months | Min. Deposit:$2,500 | Open Account for OnSecure Website. |
Quontic CD Member FDIC. | APY:5.10% | Term:6 Months | Min. Deposit:$500 | Open Account for OnSecure Website. |
Overview of PNC CDs
With so many term options, PNC Bank Fixed Rate CDs could be a good way to build a CD ladder.
That said, aside from its promotional terms, PNC Bank Fixed Rate CD's offer extremely low APYs, and the highest rates offered are only available for balances of at least $25,000 or on promotional term lengths with deposits of $1,000 or more.
Minimum deposit | $1,000 |
---|---|
Range of term lengths | 7 days to 10 years |
Compounding schedule | Monthly (and paid monthly) |
Early withdrawal penalty | All interest that could have been earned in the CD (3 months or less); Three months' worth of interest (3 to 12 months); Six months' worth of interest (12 months or more) |
Grace period | 1 day for CDs that mature within 31 days; 10 days for all other CD terms |
Data source: PNC.com
PNC CD Pros and Cons
While PNC Bank CDs don't boast the strongest APYs, they have other strengths that could balance out their weaknesses.
Pros:
- Variety of CD terms
- No monthly fees
Cons:
- Low APYs
- Early withdrawal penalty
How much can you earn with a PNC CD?
The great thing about CDs is that your rate stays the same throughout your term. While PNC Bank could adjust rates for CDs it's selling, it can't change yours. For perspective, here's how much you would earn if you deposited $1,000 in each term of a PNC Bank CD.
The numbers in the table below may not be accurate to current APYs and are for example purposes only.
Term | APY | Earnings |
---|---|---|
1 month | 0.02% | $0.02 |
3 months | 0.02% | $0.05 |
4 months | 5.05% | $16.56 |
6 months | 0.02% | $0.10 |
7 months | 4.25% | $24.58 |
9 months | 0.05% | $0.15 |
12 months | 0.02% | $0.20 |
13 months | 2.00% | $21.68 |
18 months | 0.02% | $0.30 |
19 months | 1.25% | $19.86 |
24 months | 0.02% | $0.40 |
25 months | 1.50% | $31.50 |
36 months | 0.02% | $0.60 |
37 months | 1.75% | $54.95 |
48 months | 0.02% | $0.80 |
60 months | 0.02% | $1.00 |
61 months | 2.00% | $105.90 |
84 months | 0.02% | $1.40 |
120 months | 0.02% | $2.00 |
Data source: Author's calculations
Is a PNC CD safe?
Yes, PNC Bank CDs are safe. PNC Bank is an FDIC member, and all of its accounts are insured up to $250,000 per depositor.
How to open a PNC CD
You have to schedule an appointment at a PNC Bank branch in person to open a CD. Unfortunately, unlike other national banks, you cannot open a PNC Bank CD online.
Keep Reading: How to Open a PNC Bank Account
Who is a PNC Bank CD right for?
PNC Bank CDs are great for current PNC Bank customers who want to keep all their money with one bank. They are also a good option for people who want CDs and don't mind using non-standard CD term lengths in order to get a higher yield.
Other PNC Bank CD accounts
Two other options for earning with PNC Bank CD interest rates exist:
- PNC Bank IRA CD
- PNC Bank Ready Access CD
Bottom Line: PNC CD Rates
PNC Bank CDs come in many terms but have unremarkable APYs. While it might be fine for current PNC Bank clients who want to keep their money at one bank, those looking for the best CD rates will find them at other financial institutions.
PNC Fixed Rate CD
- 6 APY: up to 0.03%
- 9 APY: up to 3.25%
- 12 APY: up to 0.03%
- 13 APY: up to 2.00%
- 18 APY: up to 0.03%
- 19 APY: up to 1.25%
- 24 APY: up to 0.03%
- 25 APY: up to 1.50%
- 36 APY: up to 0.03%
- 37 APY: up to 1.75%
- 48 APY: up to 0.03%
- 60 APY: up to 0.03%
- 61 APY: up to 2.00%
Show All Rates [+]Hide All Rates [-]
Rates as of Sept. 12, 2024
APY = Annual Percentage Yield
Term
PNC Fixed Rate CD
6 Mo.
9 Mo.
1 Yr.
13 Mo.
1.5 Yr.
19 Mo.
2 Yr.
25 Mo.
3 Yr.
37 Mo.
4 Yr.
5 Yr.
61 Mo.
up to 0.03%
up to 3.25%
up to 0.03%
up to 2.00%
up to 0.03%
up to 1.25%
up to 0.03%
up to 1.50%
up to 0.03%
up to 1.75%
up to 0.03%
up to 0.03%
up to 2.00%
Keep reading about PNC Bank
- PNC Bank Review
- PNC Bank Virtual Wallet Review
- PNC Premiere Money Market Review
Our CDs methodology
At The Motley Fool Ascent, our certificates of deposit (CDs) ratings primarily focus on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.
Learn more about how The Motley Fool Ascent rates bank accounts.
FAQs
PNC Bank CDs offer flexibility with terms from seven days to 10 years, perfect for building a CD ladder. However, the only competitive rates are offered on non-standard promotional term lengths of 9, 13, 19, 37, and 61 months, which might be non-ideal for creating a ladder if you are concerned with maximizing yield.
A PNC Bank CD may be a good option for current customers, especially with several promotional CD terms available, but you can earn much higher rates from most online banks.
The minimum deposit is $1,000.
PNC Bank CDs don't have any monthly service fees. The only fee you'd pay is the early withdrawal penalty, which is imposed if you liquidate your CD before it matures.
You can only close a PNC Bank CD early if you pay the early withdrawal penalty.