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PNC Bank CD Rates: June 2024

Learn how much you can earn with a PNC Bank certificate of deposit

By

Carissa Rawson

Updated April 30, 2024

Fact checked by

Michael Rosenston

Financial advisor with digital tablet meeting with couple in bank branch about CD rates — Hero Images Inc / Getty Images

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.

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%–5.05%
Minimum Balance	$1
Term Range	1–120 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

Article Sources

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PNC Bank. "Certificates of Deposit."
PNC Bank. “Account Agreement for Personal Certificates of Deposit, Retirement Accounts, and Coverdell Education Savings Accounts: Certificates of Deposit and Money Markets.”
PNC Bank. "Browse PNC Branches by State."