Updated
Fact Checked
Nathan Alderman
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.
PNC Bank CD rates for 2024
Rates as of May 1, 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%
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 May 1, 2024
| 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 |
Overview of PNC CDs
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 |
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. With that in mind, let's take a look at the pros and cons of PNC Bank CDs.
Pros
- Variety of CD terms
Cons
- Low APYs
- Early withdrawal penalty
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.
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.
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.
Rates as of May 1, 2024
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% |
Keep reading about PNC Bank
Our CDs methodology
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.
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.
Our Banking Experts
Steven is a personal finance writer covering topics from mortgages to credit cards to market news. He has written for The Motley Fool Canada, Ramsey Solutions, Nerdwallet, Clever Real Estate, and other major outlets. Steven launched his writing career at the age of four with his first book, "Revenge of the Bad Guys." He currently lives in Portland, Oregon.
Matt is a Certified Financial Planner™ and investment advisor based in Columbia, South Carolina. He writes personal finance and investment advice for The Ascent and its parent company The Motley Fool, with more than 4,500 published articles and a 2017 SABEW Best in Business award. Matt writes a weekly investment column ("Ask a Fool") that is syndicated in USA Today, and his work has been regularly featured on CNBC, Fox Business, MSN Money, and many other major outlets. He’s a graduate of the University of South Carolina and Nova Southeastern University, and holds a graduate certificate in financial planning from Florida State University.
Fact Checked
Nathan Alderman
Nathan Alderman has worked with The Motley Fool since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As The Ascent's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.
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