Table of Contents
Table of Contents
PNC Bank CDs: Key Features
About PNC Bank
Compare CD Account Rates
FAQ
Your Guide to CDs
- Banking
- Certificate of Deposits (CDs)
Learn how much you can earn with a PNC Bank certificate of deposit
By
Carissa Rawson
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Full Bio
Carissa Rawson is a personal finance and credit cards expert who has been featured in numerous publications, including Forbes, Business Insider, and The Points Guy. Carissa earned a bachelor's degree from the American Military University and has an MBA from Norwich University, an M.S. from the University of Edinburgh, and is currently pursuing an MFA from National University.
Updated April 01, 2024
Fact checked by
Michael Rosenston
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Fact checked byMichael Rosenston
Full Bio
Michael Rosenston is a fact-checker and researcher with expertise in business, finance, and insurance.
Learn about our editorial policies
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A certificate of deposit (CD) can be a good option for saving money, especially if you’re looking to limit access to your funds. Many banks offer CD products, including PNC Bank, which offers a few CDs that can provide competitive rates to customers. Let’s take a look at PNC Bank CD rates, key features, and how these CDs compare to other options.
PNC's CD rates may vary by location, and the rates listed below may not be available in all zip codes. The APYs listed below use NYC zip code 10001 and are up to date as of the date of publication of this article. We review CD rates every two weeks and update the information below accordingly.
PNC Bank Fixed Rate Certificate CD Overview
| Standard Term Range | APY | Balance |
|---|---|---|
| 1 to 120 months | 0.01% | $1 to $999.99 |
| 1 to 120 months | 0.02% | $1,000 to $24,999.99 |
| 1 to 120 months | 0.03% | $25,000 and above |
See the best CD rates today before choosing the CD that is best for you.
PNC Bank Fixed Rate Promotional Term CD Overview
| Promotional Term Range | APY | Minimum Balance |
|---|---|---|
| 4 months | 0.01%–5.05% | $1 |
| 7 months | 0.01%–4.25% | $1 |
| 9 months | 0.01%–0.05% | $1 |
| 13 months | 0.01%–2.00% | $1 |
| 19 months | 0.01%–1.25% | $1 |
| 25 months | 0.01%–1.50% | $1 |
| 37 months | 0.01%–1.75% | $1 |
| 61 months | 0.01%–2.00% | $1 |
PNC Bank CDs: Key Features
| APY Range | 0.01% to 5.05% |
|---|---|
| Minimum Balance | $1 |
| Term Range | 1 month to 120 months |
| Compounding Schedule | Monthly |
| Early Withdrawal Penalty | From three months of interest up to the total amount earned |
About PNC Bank
PNC Bank, with headquarters in Pittsburgh, was founded in 1852. It’s a banking industry giant, with millions of customers and thousands of branches in more than two dozen states. With its size and breadth of offerings, it should appeal to people who are looking to do all their banking with a single entity.
PNC is one of the country’s largest banks, with locations in 28 different states. The easiest way to open a PNC Bank certificate of deposit is online.
Compare CD Account Rates
PNC Bank offers a variety of CDs, most with uninspiring returns. The bank offers both standard and promotional terms with varying interest rates and minimum balances. For the most part, rates are underwhelming, but some terms may be relatively competitive, especially when compared to offerings from other big banks.
If you are looking for the best CD rates, you should probably look elsewhere.
What Are the Benefits of a CD Account?
A certificate of deposit account can provide a higher interest rate than a standard savings account. However, it also limits your access to the funds and will charge a penalty for early withdrawal, so it's best to open one only when you’re sure you can keep it until maturity.
What Are the Downsides of CDs?
CDs can provide good returns on your funds, but usually, you'll have limited access to your money during the CD term. However, CDs aren’t your only choice. High-yield savings accounts can provide similar interest rates while maintaining flexibility, while stocks and bonds can offer higher interest rates.
Do You Pay Taxes on CDs?
The interest earned on a certificate of deposit is taxable by the IRS. It’s taxed as regular income, which means it’s taxed at the same rate as your income from wages.
Are CDs Ever Risky?
Certificates of deposit tend to be less risky than other investment vehicles for a few different reasons. If you bank with an FDIC-insured bank, your CD is insured up to $250,000. Fixed rate CDs also guarantee a specific return on your deposit, so you’ll always come out positive compared to riskier methods such as purchasing stocks.
Your Guide to CDs
- What Is a Certificate of Deposit (CD)?
- What Is a Brokered CD?
- What Is a CD Ladder?
- Pros and Cons of CDs
- How to Invest With CDs
- How to Open a CD
- How to Close a CD
- CDs vs. Annuities
- CDs vs. Stocks
- CDs vs. Mutual Funds
- CDs vs. ETFs
- CDs vs. Savings Accounts
- Short-Term vs. Long-Term CDs
- CD Rates News
- Best 1-Year CD Rates
- Best 18-Month CDs
- Best Jumbo CD Rates
- Best 6-Month CD Rates
- Best 3-Month CD Rates
- Best Bank CD Rates
Article Sources
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Related Terms
Types of Specialty Certificates of Deposit (CDs) Explained
Specialty CDs offer features such as the ability to add to the principal or avoid early withdrawal fees. Some options offer more flexibility but may have lower rates than standard CDs.
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What Is a Certificate of Deposit (CD) and What Can It Do for You?
A certificate of deposit (CD) is a type of savings account offered by banks and credit unions that pays a fixed interest rate on money held for an agreed upon period of time.
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Add-On CDs: Meaning, Pros and Cons, Example
Add-on CDs are specialty CDs that allow you to add more funds to your CD after the initial deposit. Learn whether an add-on or standard CD is a better choice for you.
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Variable-Rate Certificate of Deposit (CD): Meaning, Example, FAQs
A variable-rate certificate of deposit is an investment product with relatively low risk, but its interest rate can fluctuate, unlike most standard CD, which have fixed rates.
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CD Ladder: How to Make One, Benefits, FAQ
A CD ladder is a strategy in which an investor divides a sum of money into equal amounts and invests them in certificates of deposit (CDs) with different maturity dates.
more
Brokered CD Definition, Pros/Cons, Other Types
A brokered certificate of deposit is a CD that an investor purchases through a brokerage firm or from a sales representative other than a bank.
more
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