PNC Savings Account Interest Rate
Ad Disclosure: This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. This compensation may impact how and where products appear on this site. You help support CreditDonkey by using our links.
Looking for a well-known bank with good savings rates? Check out these savings accounts from PNC Bank.
 |
PNC Bank has several interest-bearing products in its lineup. This includes a Standard Savings account and its PNC High Yield Savings® account.
Each account offers a different rate and some unique features. Continue reading to learn their difference.
PNC Standard Savings - Standard Rates
| Balance to Earn Interest | APY |
|---|---|
| $1.00 - $2,499.99 | 0.01% |
| $2,500.00 or more | 0.01% |
PNC Standard Savings - Relationship Rates
| Balance to Earn Interest | APY |
|---|---|
| $1.00 - $2,499.99 | 0.02% |
| $2,500.00 or more | 0.03% |
PNC Bank: High Yield Savings Account - 4.15% APY
- $0 opening deposit
- No fees to open or maintain account
- $1 minimum balance to earn interest
- Only available online in eligible markets or at select PNC locations
Yes. PNC has a high-yield savings account called PNC High Yield Savings®. But, it's only available in specific states.
PNC Bank Savings Account Interest Rates
PNC offers two main savings accounts. Standard Savings has a standard 0.01% APY and PNC High Yield Savings® has an impressive 4.15% APY across all balances.
- PNC Standard Savings: $0 minimum to open with a $5 monthly service charge that can be waived and optional overdraft protection. Relationship rates are available.
- PNC High Yield Savings®: has a high APY. $0 minimum to open with no monthly service fees and no minimum balance.
Let's go through the details of each account.
PNC Standard Savings
PNC's Standard Savings account has a standard 0.01% APY on all balance tiers. It has no minimum opening deposit but requires a balance of at least $1 to earn interest.
There's also a monthly service fee of $5 that can be waived if you meet any of the following:[1]
- Maintain an average monthly balance of $300
- Link to a select PNC Checking account
- Set up monthly $25 auto savings transfers from your PNC Checking account
- Are under 18 years old
The account comes with a free PNC banking card with no ATM fees at PNC or PNC Partner ATMs. You also get unlimited deposits and a maximum of 6 free withdrawals every month.
Account holders can also earn a slightly higher APY through relationship rates if they have a PNC checking account and meet certain criteria.
PNC Standard Savings - Standard Rates
| Balance to Earn Interest | APY |
|---|---|
| $1.00 - $2,499.99 | 0.01% |
| $2,500.00 or more | 0.01% |
PNC High Yield Savings®
The PNC High Yield Savings® account offers a higher rate compared to the Standard Savings one. You can earn a 4.15% APY on all balance tiers. And, there is no minimum opening deposit and no monthly service fees either.[2]
You also get a debit card and ATM access with your PNC High Yield Savings® account.
So what's the catch? Unfortunately, this account is currently available in select locations only.[3]
PNC Bank: High Yield Savings Account - 4.15% APY
- $0 opening deposit
- No fees to open or maintain account
- $1 minimum balance to earn interest
- Only available online in eligible markets or at select PNC locations
PNC High Yield Savings® is only available to residents of any of the following states: AK, AR, AZ, CA, CO, CT, HI, ID, IA, KS, LA, MA, ME, MN, MS, MT, NE, NM, NV, NH, ND, OK, OR, RI, SD, TN, TX, UT, VT, WA, WV, WY, and in the greater Kansas City area of MO.
PNC Relationship Rates on Standard Savings
PNC offers Relationship Rates on Standard Savings which is a notch higher than the standard rate. There are two tiers with different relationship rates:[4]
- $1.00 to $2,499.99
- $2,500.00 and above
You must have a linked qualifying PNC Checking account and meet any of the following requirements to be eligible:
- Perform 5+ PIN or signature point-of-sale transactions with your PNC Visa Debit/Credit Card.
- Maintain $500 in direct deposits in a linked Standard Checking account.
- Maintain $2,000 in direct deposits (or $1,000 for specific customers) in a linked Virtual Wallet with Performance Spend/Checking.
- Maintain $5,000 in direct deposits in a linked Virtual Wallet with Performance Select/Select Checking, varying by account type.
PNC Standard Savings - Relationship Rates
| Balance to Earn Interest | APY |
|---|---|
| $1.00 - $2,499.99 | 0.02% |
| $2,500.00 or more | 0.03% |
How Much Can You Earn in a PNC Bank Savings Account?
Use this calculator to see just how much your money can grow with PNC Bank.
Can You Lose Money with PNC Savings Accounts?
No, you can't really lose money with any of the savings accounts offered by PNC. They are a member of the FDIC (Cert #6384). Meaning, your deposits are insured up to $250,000 per depositor, per ownership category.
However, if you have a PNC Standard Savings account, the monthly $5 service fee can reduce your balance if you don't get it waived.
Pros and Cons
Pros
- Competitive rate for PNC High Yield Savings®
- $0 monthly fees for PNC High Yield Savings®
- No opening deposit requirement
- Relationship rates option
- FDIC-insured
Cons
- Low interest rate for Standard Savings
- $5 monthly fee for Standard Savings
- PNC High Yield Savings® is not available in all states
Should You Open a PNC Savings Account?
PNC is a good bank to check out if you're on the hunt for savings accounts. You can choose between a traditional savings account or a high-yield one.
Standard Savings is best for those who have a PNC Checking account already. You can link it in order to waive fees and be eligible for relationship rates.
PNC High Yield Savings, on the other hand, is ideal for people who are focused on making their money work harder. Just make sure to check if it is available in your state.
How to Open a PNC Bank Savings Account
You can open a Standard Savings account or a PNC High Yield Savings® account at a PNC Bank location and online.
Here's how to do it online:
- Go to PNC's Savings Products page
- Scroll to your preferred account and click Apply Now.
- Complete the application form with your personal information.
- Submit and fund your account.
Just make sure to check whether the account is available in your state or not!
To fund your savings account, you can do electronic transfers from another bank account, send a wire (PNC Bank Routing Number: 043000096), or send a check to the following address: PNC Bank P.O. Box 8108 Philadelphia, PA 19101-8101
You can also visit a PNC Financial Center to deposit cash or a check.
How PNC Bank Savings Compares
High-Yield Savings Premier - 4.46% APY
- No account activity or maintenance fees
- $500 minimum opening deposit
- FDIC insured
CIT Bank Platinum Savings - 4.55% APY
- 4.55% APY with a balance of $5,000 or more
- 0.25% APY with a balance of less than $5,000
- $100 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
High-Yield Savings Account - 4.45% APY
- $1 minimum deposit
- No fees
- 24/7 online access to funds
- FDIC insured
High-Yield Savings Account - 4.42% APY
- $1 minimum deposit
- No fees
- 24/7 online access to funds
- FDIC insured
Other PNC Bank Savings Products
Here are other savings products offered by PNC Bank:
- Virtual Wallet is both a checking account and a savings account in one that allows you to earn interest. This is best for those who want a one-stop shop for all their budgeting needs.
- S is for Savings is designed for kids, allowing them to learn about managing finances early on. It also has no service charge for users under 18 years old.
PNC Virtual Wallet Student
- Minimum Deposit to Open: $0
- Perks: Up to $5 ATM fee reimbursement per statement cycle; One automatic courtesy refund of any Overdraft Item fees for the first overdraft event on the Spend account
Bottom Line
PNC Bank offers various savings products that can help you with your financial goals. Its Standard Savings has a low rate but it's ideal for those who simply want to stow their funds in a safe place.
But, if you want to make your money work harder, you can check if you're eligible to open a PNC High Yield Savings® account.
Ultimately, you have to choose an account that would suit you best.
PNC Bank: Virtual Wallet with Performance Select Checking - $400 Bonus
Open a new Virtual Wallet with Performance Select checking account and make qualifying direct deposits totaling $5,000 or more within 60 days of account opening. Bonus will be awarded within 60-90 days of meeting the requirements.
PNC Bank: Virtual Wallet Checking Pro - $200 Bonus
Open a new Virtual Wallet Checking Pro online. Set up and receive qualifying direct deposits totaling $2,000 or more within 60 days of account opening.
PNC Bank: Virtual Wallet with Performance Spend Checking - $200 Bonus
Open a new Virtual Wallet with Performance Spend checking account and make qualifying direct deposits totaling $2,000 or more within 60 days of account opening. Bonus will be awarded within 60-90 days of meeting the requirements.
PNC Bank: Virtual Wallet Checking - $100 Bonus
Open a new Virtual Wallet checking account and make qualified direct deposits totaling $500 or more within 60 days of account opening. Bonus will be awarded within 60-90 days of meeting the requirements.
PNC Bank: High Yield Savings Account - 4.15% APY
- $0 opening deposit
- No fees to open or maintain account
- $1 minimum balance to earn interest
- Only available online in eligible markets or at select PNC locations
PNC Bank: Business Checking Account - $1,000 Bonus
Open a new PNC Treasury Enterprise Plan or Analysis Business Checking account. Maintain an average ledger balance of $100,000 or more in your new checking account for each of the first three statement cycles.
This offer is only available to businesses with an annual revenue of less than $5 million. All existing business checking customers, including those who have closed an account in the past 90 days or has been paid a promotional premium in the past 12 months are not eligible for this offer. $1,000 bonus will be credited to your new business checking account within 90 days after all conditions have been met.
PNC Bank: Business Checking Account - $500 Bonus
Open a new PNC Treasury Enterprise Plan or Analysis Business Checking account. Maintain an average ledger balance of $30,000 - $99,999 in your new checking account for each of the first three statement cycles.
This offer is only available to businesses with an annual revenue of less than $5 million. All existing business checking customers, including those who have closed an account in the past 90 days or has been paid a promotional premium in the past 12 months are not eligible for this offer. $500 bonus will be credited to your new business checking account within 90 days after all conditions have been met.
PNC Bank: Business Checking Account - $400 Bonus
Open a new PNC Business Checking or PNC Business Checking Plus account. Maintain an average ledger balance of $2,000 in your new checking account for each of the first three statement cycles. Make at least 20 qualifying PNC Bank Visa Debit card transactions within the first three statement cycles.
This offer is only available to businesses with an annual revenue of less than $5 million. All existing business checking customers, including those who have closed an account in the past 90 days or have been paid a promotional premium in the past 12 months are not eligible for this offer. $400 bonus will be credited to your new business checking account within 90 days after all conditions have been met.
PNC Virtual Wallet Student
- No monthly fees for students
- $0 opening deposit
- Includes Spend, Reserve, and Growth accounts
- $5 reimbursement of non-PNC ATM surcharge fee per statement period
PNC Bank Promotional CD
| Term | APY |
|---|---|
| 4 Month | 4.15% |
| 7 Month | 3.80% |
| 9 Month | 0.05% |
| 13 Month | 2.00% |
| 19 Month | 2.10% |
| 25 Month | 2.20% |
| 37 Month | 2.40% |
| 61 Month | 2.60% |
Rates are for balances of $1,000 or more. Rates are for Pasadena, California, and may vary per location.
References
- ^ PNC Bank. Consumer Schedule of Service Charges and Fees Standard Savings, Retrieved 11/08/2023
- ^ PNC Bank. Consumer Schedule of Service Charges and Fees PNC High Yield Savings, Retrieved 11/28/2023
- ^ PNC Bank. PNC High Yield Savings®, Retrieved 11/08/2023
- ^ PNC Deposit Rates. Relationship Rates with a PNC checking account, Retrieved 11/08/2023
Chase Total Checking® - $300 Bonus
- New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
- With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
- Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
- JPMorgan Chase Bank, N.A. Member FDIC
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
- Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Bank of America Advantage Banking - $300 Bonus Offer
- The $300 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new checking customers only.
- Offer expires 01/31/2025.
- To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
- Bank of America, N.A. Member FDIC.
U.S. Bank Smartly® Checking - Up to $450 Bonus
Earn up to $450 with a new Bank Smartly Checking account. Complete the following within 90 days of account opening:
- Enroll in online banking or the U.S. Bank Mobile App
- Make two or more direct deposits(s) totaling $2,000 to $4,999.99 to earn $250, $5,000 to $7,999.99 to earn $350 or $8,000 or more to earn $450.
Fund your new account within 30 days to start qualifying activities. Offer may not be available if you are an existing U.S. Bank customer or live outside of the U.S. Bank footprint.
Personal Checking Account - $300 Bonus
Open an eligible Fifth Third checking account. Make direct deposits totaling $2,000 or more within 90 days of account opening to qualify for bonus. The cash bonus will be deposited into your new checking account within 10 business days of completing qualifying activity requirements.
Write to Darlene Santos at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
|
|
| ||||||
|
|
|
Compare:
