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PNC Bank CD rates are much lower than those of most online banks. However, with terms ranging from seven days 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.
APY = Annual Percentage Yield
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.
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.
Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
---|---|---|---|---|
Member FDIC.
| APY: 4.70% | Term: 1 Year | Min. Deposit: $2,500 | |
APY: 5.05% | Term: 1 Year | Min. Deposit: $1 | ||
APY: 5.15% | Term: 9 Months | Min. Deposit: $1 | ||
Member FDIC.
| APY: 4.75% | Term: 1 Year | Min. Deposit: $500 |
While PNC Bank offers uncompetitive CD rates for nearly all terms, it has plenty of terms to choose from. This would make it a great bank to build a CD ladder with if only its APYs were more on par with today's best rates. If you're still interested, here are some important details on PNC Bank CDs.
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 |
While PNC Bank CDs don't boast the strongest APYs, they have other strengths that could balance out their weaknesses. With that in mind, let's take a look at the pros and cons of PNC Bank CDs.
Pros
Cons
PNC Bank Fixed Rate CDs come in a host of CD terms, ranging from seven days to 10 years, including several that are promotional or non-standard term lengths. Plus, there are no monthly fees to eat away at any money you earn with PNC Bank CD interest rates.
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.
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 |
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.
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.
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.
Two other options for earning with PNC Bank CD interest rates exist:
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.
APY = Annual Percentage Yield
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% |
At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing 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.
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.
Our Banking Experts
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.