First, we provide paid placements to advertisers to present their offers. This compensation comes from two main sources. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. The Forbes Advisor editorial team is independent and objective. In June 2021, PNC completed its acquisition of BBVA USA. The bank’s full-service capabilities can address a broad range of needs from deposit accounts like CDs, checking and savings to mortgages and credit cards. Its retail banking arm services more than 9 million customers with branches in 25 states and Washington D.C. It offers a wide array of services, including consumer banking, small business banking and financial services for corporate and institutional clients. PNC Bank, National Association, part of The PNC Financial Services Group, Inc., is the seventh largest bank by assets in the U.S. Comparison shopping can help you earn the highest possible interest on your funds for the dollar amount you wish to invest. This is a good reminder that, before opening a CD, it pays to compare rates from several different banks and credit unions.

Investors can earn considerably more interest on their savings at other banks and credit unions. PNC Bank’s CDs rates are also significantly lower than the average national CD rates, according to data from the FDIC. Rates on PNC Bank’s Fixed Rate CDs are drastically below the best CD rates on the market. To open a Ready Access CD, you must visit a PNC branch. These CDs offer a fixed rate and the ability to access funds any time after the first seven calendar days without early withdrawal penalties. PNC Bank also offers Ready Access CDs in terms of three months and 12 months. Just keep in mind that you’ll earn less on your principal balance if you withdraw your interest before the maturity date.

If you want your interest payments to be disbursed monthly by check, you’ll need to have a CD with a minimum balance of $5,000 or more.

You can choose to have interest paid by check or credit to a PNC Bank account on a monthly, quarterly or semiannual basis.

Interest on all PNC Bank Fixed Rate CDs is compounded monthly and credited to your account monthly. Yet there are other online banks that pay substantially higher rates with lower opening deposit requirements. Overview of PNC Bank CDsįixed Rate CDs at PNC Bank require an opening deposit of $1,000, which is comparable to opening balance requirements from other large national banks. With an opening balance of $25,000 or more, the rate on all nonpromotional CD terms increases to 0.03%.

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