Business Insider's personal finance team compared PNC Bank savings accounts to the best high-yield savings accounts and found them a standard offering. PNC Bank offers one savings account with good rates, but you can still get higher rates at online banks.
PNC Bank (Member FDIC) has two primary savings accounts: the PNC High Yield Savings® Account and PNC Bank Standard Savings Account. It also has a kids savings account. These accounts are very different, and your eligibility for each depends on where you live.
Compare PNC Savings Rates
- PNC Bank Standard Savings Account: 0.01% to 0.03% APY
- PNC High Yield Savings® Account: 3.95% APY
- PNC S is for Savings® Account: 0.01% APY
Current PNC Savings Rates
PNC Bank Standard Savings Account
The PNC Bank Standard Savings Account offers low interest rates of 0.01% to 0.03% APY. That's lower than the average savings account rate, which is 0.41% APY
To open the PNC Bank Standard Savings Account, you must live in an area with PNC Bank branches. You'll earn a slightly higher interest rate if you link the account to a PNC Bank checking account and meet some other requirements — but even this relationship rate is low.
Here are what the rates look like for the PNC Bank Standard Savings Account:
| Balance | APY |
| Standard rate for a balance of $1 or more | 0.01% |
| Relationship rate for account balances between $1 and $2,499.99 | 0.02% |
| Relationship rate for account balances of $2,500 or more | 0.03% |
PNC High Yield Savings Account
The PNC High Yield Savings® Account is an online account with a relatively high interest rate of 3.95% APY.
You can open this account if you live in Alaska, Arkansas, Arizona, California, Colorado, Connecticut, Hawaii, Idaho, Iowa, Kansas, Louisiana, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Washington, or Wyoming.
You can also open an account in person if you visit a PNC Bank Solutions Center in Massachusetts, Minnesota, Tennessee, or the greater Kansas City area in Missouri.
PNC S is for Savings Account
PNC Bank also has the PNC S is for Savings® Account, which is a 0.01% APY savings account for kids. It's available in areas with PNC Bank branches. While the account might be helpful if you already bank with PNC Bank and want to open an account for your child, you can get higher-rate kid's savings accounts elsewhere.
This account comes with tools to help your children learn how to save. It's a savings account with buckets labeled savings, sharing, and spending. When new money comes into the account, your child can sort that money into one of those three jars based on how they want to spend it.
These goal-setting features are educational tools that can help your child learn how to budget and build toward savings goals.
PNC Savings Account Overview
How PNC Savings Accounts Work
Residents of Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, DC, West Virginia, or Wisconsin have access to PNC Bank branches.
If you don't live in one of these states, you won't have access to branches and must open an online-only account.
The PNC High Yield Savings® Account has no monthly service fee and no minimum opening deposit. Hence, it's a good option if you'd like to open a free savings account and avoid worrying about monthly bank maintenance fees.
The PNC Bank Standard Savings Account and the PNC S is for Savings® Account both have a $5 monthly service fee, but it's automatically waived for anyone under the age of 18. You can also waive the fee by keeping an average $300 monthly balance, linking an eligible PNC Bank checking account, or receiving Auto Savings transfers of $25 or more each month. Neither has a minimum opening deposit.
The PNC Bank Standard Savings Account comes with an ATM card which you can use to withdraw money, making it a savings account with a debit card. Note that you won't be able to make purchases with this card, just ATM transactions.
The bank's other common bank fees are pretty similar for the three savings accounts. You'll need to be mindful of out-of-network ATM fees, overdraft fees, and excess transaction fees.
If you make more than six restricted transactions per month with one of these accounts, you'll be charged an excessive transaction fee for each withdrawal. Restricted transactions include transferring money from your savings account to other accounts or a third party. If you want to avoid bank fees from excess withdrawals, you'll want to limit yourself to six or fewer of these transactions or open a checking account instead.
To maximize your savings at a PNC Bank, know which savings accounts are available in your area. Then, review each account's features and choose the one that pays the best rate while also matching your savings goals and needs.
The PNC High Yield Savings® Account is a good place for growing an emergency fund. Since it pays a higher interest rate than a traditional savings account, you'll be able to earn more interest over time. It also offers account accessibility, so you can withdraw money at any time for an emergency.
PNC Savings User Experience and Accessibility
PNC Bank's mobile banking app is rated 4.9 out of 5 stars in the Apple store and 4.5 out of 5 stars in the Google Play store.
On the PNC Bank mobile app, you can use standard banking features, like mobile check deposit, Zelle, and online bill pay.
PNC Bank doesn't offer 24/7 customer service, but it does have customer service options on weekends. You can call a PNC Bank representative Monday through Friday between 8 a.m. to 9 p.m. ET, or on weekends from 8 a.m. to 5 p.m. ET.
Depending on where you live, you can also go to a PNC Bank branch for customer support. Hours will vary by area, but generally, PNC Bank branches are open 9 a.m. to 5 p.m. on weekdays in your time zone.
PNC Savings Security
PNC Bank is a long-running bank with good credit ratings from Moody's, Fitch, and Bauer Financial.
PNC Bank savings accounts are federally insured, so your money is secure even if the bank fails. The FDIC insures up to $250,000 per depositor, per ownership category in savings accounts. If the bank shuts down, the FDIC will make sure you have access to your insured deposits after — your money will either be moved to another bank or a check will be sent to you.
PNC Savings Pros and Cons
PNC Savings Pros
- PNC High Yield Savings® Account pays a high interest rate
- No minimum opening deposit requirements
- No monthly service fees on PNC High Yield Savings® Account
PNC Savings Cons
- Low interest rate on PNC Bank Standard Savings Account
- PNC Bank Standard Savings Account charges a monthly fee unless you qualify to waive it
- PNC High Yield Savings® Account is only available in select markets
PNC Savings Account Alternatives
PNC Savings vs. Ally Savings
The best option for you will likely depend on where you live. If you live in a state that offers the PNC High Yield Savings® Account, then PNC Bank is a great option to earn a slightly higher savings rate.
However, if you live near a PNC Bank branch and aren't eligible for the PNC High Yield Savings® Account, Ally may be a more appealing option. Ally savings rates are pretty good overall at 3.60% APY, and much better than the average savings account. You also won't have to worry about any monthly service fees on the Ally Savings Account. Meanwhile, the PNC Bank Standard Savings Account does have a monthly service fee to be mindful of.
PNC Savings vs. Capital One Savings
Deciding between PNC Bank and Capital One 360 may ultimately hinge on whether you're eligible for the PNC High Yield Savings® Account. If you're not, Capital One savings rates are stronger.
Capital One 360 Performance Savings pays 3.60% (rate as of 04/08/25) APY. This is a bit lower than PNC Bank's high-yield savings account, but significantly higher than PNC Bank Standard Savings Account.
Also, Capital One doesn't charge monthly service fees on any bank account. In comparison, PNC Bank Standard Savings Account does have monthly service fees if you can't meet the monthly requirements.
Opening a PNC Savings Account
PNC Savings Account Eligibility Requirements
PNC Bank savings accounts vary depending on where you live.
For example, if you live in Alabama, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Virginia, Wisconsin, or Washington, DC, you can only get the PNC Bank Standard Savings Account. You aren't eligible to open the PNC High Yield Savings® Account.
If you live in a different state from the ones mentioned above, you can get the PNC High Yield Savings® Account.
Step-by-Step Guide to Opening a PNC Savings Account
You can apply for a PNC High Yield Savings® Account online or in a PNC Bank Solution Center in Massachusetts, Minnesota, Tennessee, or the greater Kansas City area in Missouri.
The PNC Bank Standard Savings Account can be opened online, at a branch, or by phone.
To open a savings account online, you must be at least 18 years old and either a U.S. citizen or permanent resident. A government-issued ID will be required to verify your identity, so you'll need to have a driver's license or passport at hand. The online application will also ask personal questions about your date of birth, address, and Social Security number.
If you apply by phone or at a branch, the bank will follow a similar application process, but you can talk to a representative and ask questions.
PNC Bank Savings vs. PNC Bank CDs
CDs are like savings accounts in that they're federally-backed bank accounts that offer interest on your money. But unlike savings accounts, which offer variable interest rates, CDs offer a fixed interest rate, meaning your rate won't change until the end of your term length. In exchange, you can't withdraw your funds before the end of the term length without paying hefty fees. The best CD rates tend to be a bit higher than traditional savings rates.
If you don't need immediate access to your money, it may benefit you to open a PNC Bank CD instead of a savings account. PNC CD rates are competitive if you qualify for a promotional CD. You can open a PNC Fixed Rate CD for 0.01% to 4.10% (vary by location) APY, which is a bit higher than the rate you'll get from the PNC High Yield Savings® Account.
Is a PNC Bank Savings Account Right For You?
PNC Bank pays a good savings rate on its high-yield savings account but a low rate on its regular savings account.
Since you can only open a PNC High Yield Savings® Account if you live in certain parts of the U.S., your decision on banking with PNC Bank may ultimately depend on where you live. You might like banking with PNC Bank if you qualify for its high-yield savings account, but if you can only get the standard savings account, the best online banks have stronger savings options.
Why You Should Trust Us: How We Reviewed PNC Savings Accounts
We rate bank accounts on a scale from one to five stars. For our PNC Bank saving rates review, we used our bank account methodology, which looks at interest rates, miscellaneous features, minimum opening deposits, monthly service fees, customer support availability, mobile app ratings, security, and the ethics of the company to rate both savings accounts.
We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
PNC Savings Rates FAQs
What are the benefits of the PNC High Yield Savings Account?
The primary benefits to getting a PNC High Yield Savings® Account include a good interest rate, no monthly service fee, and no minimum opening deposit.
How do I open a PNC High Yield Savings Account?
You can open a PNC High Yield Savings® Account online or in a PNC Bank Solution Center in Massachusetts, Minnesota, Tennessee, or the greater Kansas City area in Missouri. To be eligible for the high-yield savings account at PNC Bank, you must live in Alaska, Arkansas, Arizona, California, Colorado, Connecticut, Hawaii, Idaho, Iowa, Kansas, Louisiana, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Washington, or Wyoming.
What is the current interest rate for the PNC High Yield Savings Account?
The current interest rate for the PNC High Yield Savings® Account is 3.95% APY.
Are there any fees associated with the PNC High Yield Savings Account?
The PNC High Yield Savings® Account has no monthly service fee, but there are out-of-network ATM fees, overdraft fees, and excess transaction fees.
How can I maximize my earnings with the PNC High Yield Savings Account?
You can maximize your earnings with a PNC High Yield Savings® Account by storing your emergency fund in the account and setting up automatic transfers to help you save for other goals.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.
*LendingClub LevelUp Savings Account: Earn 4.40% APY when you deposit at least $250 per month, earn 3.40% standard APY if minimum isn't met.
**CIT Bank Platinum Savings: Transfer a one-time deposit of $50,000+ for a Bonus of $300 or a one-time deposit of $25,000 -$49,999.99 for a Bonus of $225
***Synchrony High Yield Savings Account: Annual Percentage Yield (APY) is subject to change at any time without notice. Offer applies to personal accounts only. Fees may reduce earnings. For High Yield Savings accounts, the rate may change after the account is opened. Visit synchrony.com/banking for current rates, terms and account requirements. Member FDIC.
****SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
*****Valley Direct High Yield Savings Promo Account: New customers only
