With more than 2,000 branches in 21 states, PNC Bank is one of the largest financial institutions in the United States.
PNC’s history goes all the way back to the year 1845, when it was first established as the Pittsburgh Trust and Savings Company.
Today, PNC serves more than 8 million customers, offering deposit accounts, credit cards, and other financial services. It’s also one of the biggest Small Business Administration (SBA) lenders in the country.
PNC is a big bank, but it’s also regional, so keep in mind the accounts that the bank offers may vary depending on where you live.
Let’s take a look at its current account offerings.
PNC Bank Checking
Here are PNC banks current checking account options:
Virtual Wallet Spend
PNC’s Virtual Wallet is an all-in-one banking package with several account tiers, starting with a standard checking account called Spend.
You can choose to open just a Spend account or pair it with a savings option called Reserve and Growth.
Spend has no minimum deposit requirement and comes with a PNC Visa debit card and access to online bill pay and mobile banking.
Spend has three different tiers:
- Virtual Wallet: Virtual Wallet is the basic tier, which comes with a 7$ monthly fee and some reimbursements on non-network ATM fees. To avoid the monthly fee, you need monthly direct deposits of at least $500 or a $500 minimum deposit in your Spend account.
- Virtual Wallet with Performance Spend Checking: Virtual Wallet with Performance Spend Checking offers more ATM fee reimbursements and earned interest on balances of $2,000 or more. The $15 monthly fee is avoidable with $2,000 in Spend direct deposits or a $2,000 balance in your Spend + Reserve account.
- Virtual Wallet with Performance Select Checking: Virtual Wallet with Performance Select Checking also offers earned interest but waives all out-of-network ATM fees. To avoid the $25 monthly fee, you need to maintain a balance or receive monthly direct deposits of $5,000 or more or have at least $25,000 in related PNC accounts.
Virtual Wallet Student
Virtual Wallet Student offers some perks that appeal to a younger banking crowd.
For starters, there are no monthly maintenance fees for the first six years of account ownership, which is great for a student checking account.
After the introductory period is up, the account automatically converts to a standard Virtual Wallet.
Virtual Wallet Student comes with all the same features as the standard account.
Account-holders can also get one automatic refund on an overdraft, one free incoming domestic or international wire transfer per statement period, and the option for free paper statements.
PNC SmartAccess Prepaid Visa Card
SmartAccess Prepaid card is a low-risk alternative to a PNC checking account.
To be clear, it’s not a checking account — it’s a reloadable, prepaid debit card that can be used for purchases wherever Visa is accepted.
The cardholder cannot spend more than the pre-paid amount, so you won’t have to worry about any overdraft fees (the card will just decline).
You can also track your balance and enroll in email or text alerts through PNC mobile banking.
With all of that said, SmartAccess might be a good option for parents and teens, for example.
Learn More:
- Best Checking Accounts
- Best Rewards Checking Accounts
- Best Checking Account Bonus Offers
PNC Bank Savings
Here are PNC Banks current saving account options:
Standard Savings
Standard Savings is, as it sounds, a standard savings account. There is a minimum opening deposit requirement of $25 and a $5 monthly service charge.
To avoid the fee, you need to maintain an average monthly balance of $300 or more or make automatic transfers from your checking account of at least $25 per month.
Standard Savings account doesn’t earn much on interest with an APY (annual percentage yield) of 0.01%. You may qualify for a relationship rate of up to 0.03% if you link your checking account to monthly direct deposit and hit a monthly deposit minimum (which varies depending on the checking account).
High-Yield Savings
PNC’s high-yield savings option is an online account that currently earns a slightly higher rate of 0.40%.
The account has no minimum balance requirements or monthly fees and comes with access to digital banking tools and mobile check deposits.
Virtual Wallet: Savings
To go along with your Spend checking account, PNC allows you to add two savings accounts to your virtual wallet to help work toward your savings goals.
- Reserve is a short-term savings account that helps you put aside money for upcoming events bills, or for an emergency fund.
- Growth is a long-term savings account that earns interest and serves as a place to build up toward bigger goals (e.g., a down payment on a home or a new car).
PNC Premiere Money Market Account
PNC’s Premiere Money Market is a savings account alternative that comes with FDIC protection. The interest rates are better than in the bank’s savings accounts, with an APY that pays up to 0.06% on deposits.
There’s a minimum initial deposit of $100, and you need an average monthly balance of at least $5,000 to get around the $12 monthly fee.
If your balance dips under the fee-waiver threshold, the $12 monthly fee can easily wipe away any interest earnings that you are hoping to achieve.
This account is not ideal for people who cannot consistently maintain at least a $5,000 balance.
‘S’ Is For Savings
‘S’ is for Savings is a kid’s bank account that helps young children learn financial basics like saving and budgeting through an interactive, online experience.
The account requires a $25 initial deposit and helps new bankers understand how saving works through easy-to-use goal-setting tools.
It even comes with some tips from Sesame Street. There is no monthly fee for account holders under the age of 18.
PNC Certificates of Deposit (CDs)
Fixed-Rate CD
Fixed-Rate CDs come with term lengths that range from 7 days to 10 years. The APY currently maxes out at 0.04% with qualifying deposits totaling at least $25,000.
Ready Access CD
A Ready Access CD also comes with a fixed rate but allows for a little more flexibility if you need access to your deposits.
You can pull funds from the account with no fee for seven calendar days following the deposit.
Ready Access only has two-term lengths: 3 months or 12 months.
With a three-month term, you’ll earn interest at 0.01%, and the APY for 12 months is 0.02%.
Note: CD accounts, in general, are not advisable if you might need access to your funds during the term. Your money can earn just as good, if not better returns, in a top HYSA account, which also comes with easier access to your cash.
Learn More:
- Best CD Rates
PNC Credit Cards
Next, let’s take a look at PNC Bank’s top credit card products.
PNC Cash Rewards Visa
Cash Rewards is a no annual fee cash back credit card that pays 4% back on gas, 3% on dining, 2% at grocery stores, and 1% on all other purchases.
You can redeem cash back any time you have at least $25 in your cash rewards account, and the rewards never expire.
Cash Rewards also comes with an intro APR of 0% on balance transfers for 12 months, making this a solid option to earn rewards while paying down the debt from another card.
PNC Core Visa
Core Visa is a no-annual-fee card that also comes with no interest on balance transfers or purchases for the first 15 billing cycles.
There are no rewards to earn here, but it’s a good option if you’re looking to build your credit or pay down existing debt.
PNC Points Visa
With Points, you can earn four reward points for every dollar spent on purchases.
There’s also an opportunity for bonus points if you hold deposit accounts with PNC, and you can earn up to 75% in bonus points with qualifying accounts.
There’s no annual fee, and you can cash out your points for thousands of rewards, including cash, gift cards, electronics, and travel.
PNC Premier Traveler Visa Signature
Premier Traveler is a travel rewards card that earns two miles for every dollar in purchases.
There are no spending categories, so every transaction will earn at the same rate. There are also 30,000 bonus miles up for grabs if you spend $3,000 or more within the first three months of account opening.
Premier Traveler has no annual fee for the first year, but it’s $85 for every year after that.
PNC Bank Features
- 2,300 Locations In 21 States: PNC has a brick-and-mortar presence in 21 states, with locations throughout the Midwest, Mid-Atlantic, and Southeast. Outside of Texas, there aren’t any locations west of the Mississippi River, and PNC has only a few locations in New England.
- 18,000 Fee-Free ATMs: PNC has 18,000 ATMs throughout its service area, making it the fourth-largest bank in the US in terms of branded ATMs. All of these ATMs are available to PNC customers for fee-free access.
- Online Banking: PNC’s secure online platform allows you to schedule and pay bills, transfer money, keep track of your eStatements, and set account alerts.
- PNC Mobile App: Within the PNC mobile app, you can keep an eye on your balance, take care of bills, send money to others, or access customer service. The app is well-liked by current customers, with a 4.8-star (out of 5) rating in the App Store and 4.4 stars (out of 5) in the Google Play Store.
PNC Bank Fees
Monthly Service Fees
Like most bigger banks, you’re going to see your share of monthly charges with almost every PNC bank account.
The good news is that they’re all avoidable. Here’s a look at the fees for each account:
| PNC Account | Service Fee | Avoidable? |
| Virtual Wallet Spend | $7 | Yes |
| Virtual Wallet With Performance Spend | $15 | Yes |
| Virtual Wallet With Performance Select | $25 | Yes |
| Virtual Wallet Student | $0 | N/A |
| Standard Savings | $5 | Yes |
| Premiere Money Market | $12 | Yes |
| High-Yield Savings | $0 | N/A |
| ‘S’ Is For Savings | $5 | Yes |
Non-PNC ATM Fees
PNC has plenty of branded ATMs in the areas that it serves. But if you’re traveling or need to use a non-PNC ATM, you’ll pay a $3 fee, plus whatever the ATM charges you.
Some accounts will reimburse some of these fees.
For example, you can get up to $5 reimbursed per statement with Spend, $10 with Performance Spend, and $20 with Performance Select — but you may need to meet certain balance requirements to avoid monthly fees on those accounts.
Overdraft Fees
If you overdraft your account, it costs $36 per occurrence.
PNC can charge up to four overdraft fees per day. Thankfully, you can enroll in overdraft protection if you have a linked savings account.
Wire Transfer Fees
PNC charges $15 for incoming domestic wires and $30 for outgoing wires. International wires are $15 for incoming and $45 for outgoing.
Some accounts come with a free wire transfer per statement period, so be sure to take advantage of it if wires are a service that you frequently plan to use.
Debit Card Replacement Fees
If you lose your debit card, there’s a $7.50 fee to replace it. If you need a new one in a hurry, it’ll cost you $25 to have it expedited.
On the whole, it is not common for banks to charge debit card replacement fees.
Getting Started
Signing up for an account can be done online, over the phone, or at your local branch.
Online, the process should take less than 10 minutes, and you should get an immediate response about your application status.
All you need is your social security number, a government-issued photo ID, the account numbers for your existing bank account, and possibly a printer (to print, sign, and mail in your signature card).
Once your account is ready, you can make your initial deposit and gain access to online and mobile banking services.
Here are some of the best PNC Bank promotions going on right now:
1. Virtual Wallet® with Performance Select - $400 bonus
Expires: January 2, 2023
Available in 22 states plus the District of Columbia, PNC is back with a competitive welcome bonus for opening a personal checking account and using direct deposit within the first 2 months. This offer must be redeemed at the link below AND on a mobile phone to qualify.
If the $5k in direct deposit is too high, they're also running a couple of smaller offers with lower deposit requirements.
Assuming you don't have an account with PNC (and haven't within the last 90 days), we definitely recommend grabbing this easy bonus.
How to earn the bonus
The Virtual Wallet® with Performance Select sign up offer requires you to set up direct deposits in order to earn the $400 bonus. Full requirements to receive this bonus are:
- Open a Virtual Wallet® with Performance Select account using the link below from a mobile device.
- Within 60 days, have a total of $5,000 in direct deposits.
- Bonus will be credited to your account within 60-90 days after meeting requirements.
read the full terms
Apply now for a Virtual Wallet® to earn the $400 bonus
2. Virtual Wallet® with Performance Spend - $200 bonus
Expires: January 2, 2023
Available in 22 states plus the District of Columbia, PNC is back with a competitive welcome bonus for opening a personal checking account and using direct deposit within the first 2 months. This offer must be redeemed online using the link below AND from a mobile device.
If you can deposit more than the $2k required here, they're also running a $400 offer with a $5k requirement.
Assuming you don't have an account with PNC (and haven't within the last 90 days), we definitely recommend grabbing this easy bonus.
How to earn the bonus
The Virtual Wallet® with Performance Spend sign up offer requires you to set up direct deposits in order to earn the $200 bonus. Full requirements to receive this bonus are:
- Open a Virtual Wallet® with Performance Spend account using the link below from a mobile device.
- Within 60 days, have a total of $2,000 in direct deposits.
- Bonus will be deposited into your account 60-90 days after requirements have been met.
read the full terms
Apply now for a Virtual Wallet® to earn the $200 bonus
3. Business Checking Account - $200 bonus
Expires: December 31, 2022
PNC is running a couple of welcome bonus offers targeting small business owners. For this one, you'll need to open either a Business Checking or Business Checking Plus account and then meet balance and debit card requirements.
This is a straightforward, nationally-available bonus for business owners.
If your company has higher balances or transaction volume, PNC is running a larger bonus for their enterprise checking accounts, so check those out, too!
How to earn the bonus
The Business Checking Account sign up offer requires you to deposit and maintain a minimum balance and make purchases using the account's card in order to earn the $200 bonus. Full requirements to receive this bonus are:
- Open a new Business Checking or Business Checking Plus account.
- For 3 statement cycles, maintain an average balance of $5,000.
- During those same statement cycles, make 20 debit card purchases.
- Bonus will be deposited within 90 days of meeting the requirements.
read the full terms
Apply now to earn the $200 bonus from PNC
Learn More:
- See all current offers from PNC Bank
PNC Bank Security
Like all banks, security is a top priority at PNC. You can get the whole picture by checking out its online security and privacy center, but here are just a few of the ways that PNC works to keep you and your money safe:
- Extended Validation Secure Socket Layer (SSL) Encryption
- FDIC Insurance
- Security tools and tips to help prevent fraud
- Customer service on standby if you suspect fraud
- Customizable account alerts
- Free online fraud protection software
- Multi-layered security questions at login
Customer Service
When you need some support, PNC has several different avenues for you to get in touch with customer service. You can call, visit a local branch, email, or hit them up on Twitter.
The customer service phone line is open Monday through Friday from 7 am to 10 pm Eastern Time. On weekends, phone support is available from 8 am to 5 pm.
The website is also full of helpful FAQs and videos for when you’d rather try to figure out a problem on your own.
Overall, customers’ impressions of PNC’s customer service seem to be mixed. The bank currently holds a 2.6-star (out of 5) on TrustPilot.
Pros & Cons
Pros:
- Big bank with lots of locations in the Midwest
- Traditional and online accounts
- High-yield savings option
- Well-liked mobile app
Cons:
- Low-interest rates
- Some accounts available in limited markets
- Too many fees
- Mixed feelings with customer service
Alternatives to PNC Bank
If PNC sounds good to you, but you don’t live in one of its main service areas, there are a few options that you could check out.
TD Bank and Capital One both serve more of New England and the East Coast, and have a similar feel being large banks, but not too large, with a mix of online and in-person offerings.
If you’re interested in a bank with more of a national presence, take a look at Bank of America, Chase, or Wells Fargo.
FAQs
Is PNC a good bank?
Yes. Overall, PNC is a good bank. However, you have to be careful to avoid monthly fees and service fees.
If you absolutely hate monthly fees, it might not be the best choice for you.
Is Bank of America or PNC better?
It depends on what you’re looking for and where you are located. PNC doesn’t have a presence in New England, where BoA is everywhere.
In general, BoA has a much wider national presence, so you’ll probably have better luck finding a location when you’re traveling.
That said, some PNC accounts offer higher interest rates. Across the board, BoA’s interest rates tend to be lower and in line with the national average.
PNC also takes the edge when it comes to earning potential on sign-up bonuses.
Finally, BoA doesn’t have any product that comes close to PNC’s high-yield savings account.
Is PNC going out of business?
No. PNC is not going out of business. However, in response to the Covid-19 pandemic, PNC is downsizing its physical branches and plans to close nearly 300 locations by the end of 2021.
Expect a heavier emphasis on digital banking in the near future from all banks — not just from PNC.
What is PNC Bank known for?
Aside from the naming rights to its home team, the Pittsburgh Pirates, PNC is known for its ubiquitous presence throughout the Midwest, Mid-Atlantic, and surrounding regions.
PNC is one of the biggest banks in America and has been well-known in the banking space since the 19th century.
Is PNC Bank Right For You?
To answer this question, the first step is to head to its website, enter your zip code, and see if you qualify for an account.
You might be excited about one of the accounts that we covered here, but since PNC is a regional bank, you may not be able to sign up.
That being said, there is a lot to like about PNC. Between interest-bearing checking accounts, a solid high-yield savings account, and widespread presence, PNC is a model for a traditional bank that’s progressing into the digital age.
Whether you’re looking to open your first account, or seeking out a new banking partner, keep searching until you find the bank that meets your financial goals.
Opinions expressed here are the author’s alone, not those of any bank or financial institution. This content has not been reviewed, approved or otherwise endorsed by any of these entities.
FAQs
Is PNC a good bank for savings? ›
The PNC High Yield Savings Account is probably the bank's best product. It pays solid interest rate if you keep at least $1 in your account and doesn't charge monthly maintenance fees.
Who has the best savings account 2022? ›- Bread Savings – APY: 3.00%, min. ...
- CIT Bank – APY: 3.00%, min. ...
- Citizens – APY: 3.00%, min. ...
- American Express National Bank – APY: 2.75%, min. ...
- Synchrony Bank – APY: 2.75%, min. ...
- Popular Direct – APY: 2.50%, min. ...
- Ally Bank – APY: 2.35%, min. ...
- Citibank – APY: 2.20%, min. opening balance: $0, Member FDIC.
PNC stands out for its digital banking tools and offers competitive interest rates in some states. But if you don't live in those select states, you may want to bank elsewhere for a better rate.
What CD rates will rise in 2022? ›Though the Federal Reserve is poised to raise rates three times in 2022, McBride's forecast calls for just two hikes, with the national average for one-year CDs rising to 0.35 percent and the average for five-year CDs climbing to 0.56 percent.
What bank has the highest paying CD? ›Best CD rates of November 2022
Capital One: 6 months – 5 years, 2.70% APY – 4.25% APY; no minimum deposit needed to open. Marcus by Goldman Sachs: 6 months – 6 years, 3.25% APY – 4.25% APY; $500 minimum deposit to open. Synchrony Bank: 3 months – 5 years, 2.00% APY – 4.01% APY; no minimum deposit needed to open.
| Pros | Cons |
|---|---|
| Bank in person at a branch, online, or through the PNC mobile banking app | Low APY on savings |
| Multiple savings and checking options to choose from | Monthly fees may apply unless you meet certain requirements |
| Low minimum deposit requirements when you open savings accounts online |
What's Good: Midwest-based PNC (branches in 19 states) also offers many of the vital protections for seniors. And its checking account has a $7 monthly fee that's easily waived with either a $500 monthly balance or $500 in monthly direct deposits.
Is PNC a top rated bank? ›PNC Bank made several of GoBankingRates' Best of 2022 lists, including Best Checking Accounts for its Virtual Wallet, Best Money Market Accounts for its Premiere Money Market Account, Best National Banks and Top 100 Banks, where it came in at number 43.
Which bank gives 7% interest on savings account? ›The average monthly balance requirement is Rs 2,000 to Rs 5,000. Ujjivan Small Finance Bank is offering interest rates up to 7 percent on savings accounts. Equitas Small Finance Bank is offering interest rates up to 7 percent on savings accounts. The average monthly balance requirement is Rs 2,500 to Rs 10,000.
What are the top 5 savings accounts everyone should have? ›These are five savings accounts I recommend opening with a credit union to help reduce financial worries and anxiety - emergency account, vacation account, retirement account, freedom account, and large purchases account. Ideally, our money should be there for us when we need it. And with a credit union, it is.
Which bank gives 6% interest in savings account? ›
Digital Federal Credit Union offers 6.17%, Blue Federal Credit Union offers 5.00%, Landmark Credit Union offers 7.50%, online bank Mango Money offers 6.00% and Consumers Credit Union and online bank T-Mobile Money, both offer 4.00%.
Why are so many PNC closing? ›PNC's plans dovetail with an accelerated national trend in the banking sector as financial institutions pull operations out of retail establishments at a faster pace than shedding traditional branches. Both are basically due to more customers preferring digital transactions to branch visits.
What are the pros and cons of PNC Bank? ›| Pros | Cons |
|---|---|
| Non-PNC ATM fees reimbursed for in some areas Ability to earn cash back on certain debit card purchases Mobile apps available | Monthly fee of $7 (can be waived) Does not pay interest |
The PNC product line includes checking and savings, home loans, mortgages, investments, student loan refinancing, and a variety of credit card options. PNC Bank can be a better choice than Wells Fargo if: You want a bit better CD and savings rates. You won't be able to waive checking account fee (PNC fee is lower)
Will CD rates reach 4% in 2022? ›So far this year, the Fed has boosted its benchmark federal funds rate five times, taking it from near 0% to a range of between 3% and 3.25% in an effort to curb inflation. Further rate increases are expected this year, with the federal funds rate projected to surpass 4% by the end of 2022.
Should I buy CDs 2022? ›CDs are a better way of investing than keeping money in a saving or checking account when you're mainly considering interest earnings, but they won't double or triple your investment. If you're already planning on investing in a CD soon, though, 2022 could be the right time to do it.
Are CDs expected to go up? ›Average Interest Rates for CDs
Experts predict that CD rates will continue to rise. Here are the average CD rates by term for the Federal Deposit Insurance Corporation (FDIC) and the best CD rates we track at NextAdvisor.
How much does $10,000 in a CD make in a year? This depends on the CD rate. A one-year CD with a rate of 1% APY earns $100, while a CD with a rate of 0.10% APY earns $10.
Where can I get 5% interest on my money? ›- Varo: 5% up to $5,000.
- Current: 4% up to $6,000.
- Aspiration: 3-5% up to $10,000.
- NetSpend: 5% up to $1,000.
- Digital Federal Credit Union: 6.17% up to $1,000.
- Blue Federal Credit Union: 5% up to $1,000.
- Mango Money: 6% up to $2,500.
- Landmark Credit Union: 7.50% up to $500.
CDs can potentially offer higher interest rates than savings accounts. Saving in a CD is safe and secure, with virtually zero risk of loss. CDs can offer a guaranteed rate of return on your money. A CD laddering approach can help you to capitalize on changing interest rates.
Which is better PNC Bank or Chase bank? ›
PNC has even more banking products. In addition to its PNC checking and saving accounts, you can access credit card options, home loans, mortgages, student loan refinancing and investment options. PNC bank can be a better choice than Chase if: You need a personal loan, line of credit or student loan refinancing.
Is PNC Bank being hacked? ›PNC Bank Warns 5 Million Customers It Might Have Been Hacked
Last week it was Citibank, and now it seems hackers have taken aim at PNC Bank. The bank has sent a message to some five million customers warning of a possible cyber attack, the AP is reporting.
Bank of America's brand is ranked #152 in the list of Global Top 1000 Brands, as rated by customers of Bank of America. Their current valuation is $298.80B. PNC's brand is ranked #693 in the list of Global Top 1000 Brands, as rated by customers of PNC.
Which bank pays highest interest to senior citizens? ›...
Best FD Interest Rates for Senior Citizens Offered by Top Private Sector Banks.
| Bank Name | HDFC Bank |
|---|---|
| Interest Rates (% p.a.) | 6.95 |
| 6.60 | |
| 6.75 | |
| 6.75 |
Best Overall: TD Bank. TD Bank's 60 Plus Checking Account combines a low opening balance requirement, no fees, free checks and discounts on select loans. Plus, the account earns interest. All that makes TD Bank our pick for best overall for seniors.
Where should senior citizens put their money? ›- 60/40 portfolio.
- Bond ladders.
- Certificates of deposit (CDs).
- Options collar.
- Low-volatility stocks.
- Series I savings bonds.
- Preferred stock.
The Bank of Commerce has earned Bauer Financial, Inc.'s highest (5-Star) rating for strength and stability. Achievement of this coveted 5-Star Superior rating puts The Bank of Commerce in an elite category as one of the strongest banks in the nation.
What is the number 1 bank in USA? ›Chase, part of JPMorgan Chase & Co., is the largest bank by asset size in the U.S., including deposits from checking and savings and other accounts, plus loans, mortgages and more. It has $2.57 trillion in assets, according to the latest information from the Federal Reserve.
Why should I choose PNC Bank? ›The account features no minimum opening deposit or ongoing balance and no monthly service charges. A $100 deposit is required to open a money market account. PNC also offers a Standard Savings Account. Like most of the bank's other deposit accounts, it features relatively low interest rates.
Who has the highest 12 month CD rate? ›- KS State Bank - 4.84% APY.
- Live Oak Bank - 4.50% APY.
- Banesco USA - 4.40% APY.
- Superior Choice Credit Union - 4.39% APY.
- CFG Bank - 4.35% APY.
- Merchants Bank of Indiana - 4.34% APY.
- Genisys Credit Union - 4.32% APY.
- North American Savings Bank - 4.29% APY*
Where should I keep my money instead of a bank? ›
- Higher-Yield Money Market Accounts.
- Certificates of Deposit.
- Credit Unions and Online Banks.
- High-Yield Checking Accounts.
- Peer-to-Peer (P2P) Lending Services.
Interest on $100,000
If you only have $100,000, it is not likely you will be able to live off interest by itself. Even with a well-diversified portfolio and minimal living expenses, this amount is not high enough to provide for most people.
Although no bank or credit union provides traditional savings accounts that offer a five percent guaranteed interest rate, you can still get close. Currently, fixed annuities are guaranteeing rates as high as 5.25% APY. So, if you're looking for a high-yield savings account, contact us for a quote today.
How much money should you have in your savings account at all times? ›Most financial experts end up suggesting you need a cash stash equal to six months of expenses: If you need $5,000 to survive every month, save $30,000.
What is the safest place to put your savings? ›Key Takeaways. Savings accounts are a safe place to keep your money because all deposits made by consumers are guaranteed by the FDIC for bank accounts or the NCUA for credit union accounts. Certificates of deposit (CDs) issued by banks and credit unions also carry deposit insurance.
What is the best savings account at the moment? ›- Easy access savings account: 3.00%
- Notice savings account: 3.50%
- One year fixed-term bond: 4.60%
- Sharia savings account: 5.10%
- Regular savings account: 5.12%
- UFB Direct - 3.83% APY.
- BrioDirect - 3.75% APY.
- CFG Bank - 3.70% APY.
- Bask Bank - 3.60% APY.
- First Foundation Bank - 3.60% APY.
- North American Savings Bank - 3.56% APY*
- Vio Bank - 3.52% APY.
- DollarSavingsDirect - 3.50% APY.
- State Bank of India (SBI) Savings Account. 2.70% p.a.
- HDFC Bank Savings Account. 3.50% p.a.
- Kotak Mahindra Bank Savings Account. 3.50% p.a.
- DCB Bank Savings Account. 6.50% p.a.
- RBL Bank Savings Account. 6.00% p.a.
- IndusInd Bank Savings Account. 5.00% p.a.
- ICICI Savings Bank Account. 3.50% p.a.
McCune Law Group, (MLG) is accepting qualified clients to bring claims against PNC bank for their allegedly unfair overdraft practices which have cost customers millions of dollars. If you are a PNC bank customer who has been charged an overdraft fee within the past year, see if you qualify to arbitrate.
Is PNC Bank being bought out? ›(NYSE: PNC) on Oct. 12 announced it has completed the conversion of 2.6 million customers, 9,000 employees and nearly 600 branches across seven states from BBVA USA to PNC Bank. PNC Financial Services Group in November 2020 announced it would acquire the U.S. subsidiary of Spain's BBVA bank for $11.6 billion in cash.
Why are people protesting PNC Bank? ›
We demand PNC Bank sell off these loans, investments, and bond issuances to nuclear arms producers and make a binding commitment never to invest in weapons of mass destruction. Our campaign is a broad-based coalition of concerned partners, both within the Pittsburgh area and from across the nation.
Is PNC good for savings? ›The PNC High Yield Savings Account is probably the bank's best product. It pays solid interest rate if you keep at least $1 in your account and doesn't charge monthly maintenance fees.
Is PNC a good bank 2022? ›PNC stands out for its digital banking tools and offers competitive interest rates in some states. But if you don't live in those select states, you may want to bank elsewhere for a better rate.
What are the CD rates for PNC Bank? ›| Balance to Earn Interest | Interest Rate | APY [2,3] |
|---|---|---|
| $1.00 - $9,999.99 | 3.06% | 3.10% |
| $10,000.00 and above | 3.06% | 3.10% |
The Lifestory Research 2022 America's Most Trusted® Bank Study found Chase the most trusted bank. The America's Most Trusted® Study is a large-scale survey of consumers in the United States that seeks to identify the brands that people trust the most within their respective industries.
What is the most stable bank in America? ›1. Wells Fargo & CompanyWells Fargo & Company (NYSE:WFC) is the undisputed safest bank in America, now that JP Morgan Chase & Co. (NYSE:JPM) has come under scrutiny — even if Chase has about $1 trillion more in assets.
What makes PNC different? ›Providing an Inclusive Banking Experience
For non-English-speaking customers, PNC provides a wide range of services such as live interpretation and translation services, bilingual employees in many retail branches, and translated webpages and educational resources.
Best 1-year jumbo CD: Justice Federal Credit Union - 4.25% APY.
What are the best CD rates going right now? ›- Bask Bank: 4.10% APY, $1,000 minimum deposit.
- Capital One: 4.00% APY, $0 minimum deposit.
- Marcus by Goldman Sachs: 4.00% APY, $500 minimum deposit.
- Bread Savings (formerly Comenity Direct): 4.00% APY, $1,500 minimum deposit.
- LendingClub Bank: 4.00% APY, $2,500 minimum deposit.
- LendingClub CD: 4.00% APY.
- Marcus by Goldman Sachs High-Yield CD: 4.00% APY.
- Capital One 360 CD: 4.00% APY.
- Citi® CD: 4.00% APY.
- Synchrony Bank CD: 4.01% APY.
- Live Oak Bank CD: 3.75% APY.
Who has the highest 2 year CD rates? ›
- KS State Bank - 4.94% APY.
- Genisys Credit Union - 4.58% APY.
- Skyla Credit Union - 4.50% APY.
- Mountain America Credit Union - 4.50% APY.
- North American Savings Bank - 4.50% APY*
- Sallie Mae Bank - 4.40% APY.
- Superior Choice Credit Union - 4.39% APY.
- Merchants Bank of Indiana - 4.34% APY.
Are There Any 4% CD rates? Yes. Axiom Bank is offering 4% for 24 months.
Is it a good idea to buy CDs now? ›“Buying a CD right now is a bit of a straitjacket during a time of rising interest rates,” Clark says. Interest rates on Ally Bank's savings accounts recently hit an all-time high, according to Money.com. As of October 6, 2022, the annual percentage yield was 2.25%. Keep in mind that rates may change.
Will savings rates go up in 2022? ›Nationwide Building Society has announced it will raise interest rates on all variable rate savings accounts from 1 September 2022. These accounts are seeing interest rates rise by 0.50%, in line with the latest bank rate increase: Flex Regular Saver rate rises to 3.00% AER. Start to Save 2 rate rises to 3.00% AER.
Are CDs worth buying anymore? ›Though CDs are stable and safe, the reality is that you might not get the best return for your money. On top of that, both Jacobs and Blackman point out that even with a high yield, you're not likely to beat inflation with a CD investment.
Are CD rates expected to go up soon? ›Further rate increases are expected this year, with the federal funds rate projected to surpass 4% by the end of 2022.
Are Treasury Bonds better than CDs? ›Are Treasury bonds better than CDs? As the interest rates for both depend on interest rates set by the Federal Reserve, CDs may offer better returns when interest rates are high. However, it's important to note that your returns with both can be severely impacted if you sell before the maturity date.
Are CD rates rising or falling? ›The gradual rise of online CD rates started in July 2021, after a relatively low-rate environment in 2020 and 2021. High-yield CD rates today can be over five times the national average of 0.83% for five-year terms and over five times the national average of 0.71% for one-year terms.
What is the best high interest savings account? ›- UFB Direct - 3.83% APY.
- BrioDirect - 3.75% APY.
- CFG Bank - 3.70% APY.
- Bask Bank - 3.60% APY.
- First Foundation Bank - 3.60% APY.
- North American Savings Bank - 3.56% APY*
- Vio Bank - 3.52% APY.
- DollarSavingsDirect - 3.50% APY.
A two-year CD can be a useful financial tool for those looking to secure a higher interest rate on their savings without committing to locking up their money long term. It may also pay a higher rate of return than a high-yield savings account.