PNC Bank CDs remain a popular choice for savers even with the historically low interest rates being offered by the nation’s largest banks. PNC Bank is the sixth largest U.S bank. In the month of June, 2011 PNC Bank CD rates were falling behind the national average CD rates with the exception of the limited bank promotional CD rates.
PNC Bank CDs are available with a wide array of terms and an assortment of different CD types. The standard PNC Bank CDs comes with terms that range from as short as 7 days to as long as 10 years. PNC Bank also markets callable CDs, variable rate CDs, ready access CDs and step up CDs.
The PNC Bank callable CDs can be called in by the bank after a term of 1 year on the 3 year term CD and 2 years on the PNC Bank 5 year term callable CD. The variable rate CD changes at predetermined times based on an index. PNC Bank currently offers an 18 month variable rate CD that has arte tied to the 3-month Treasury Bills with a CD interest rate that may change quarterly.
The PNC ready access CD is a CD that allows the early withdrawal of principal without penalty. The ready access CD which is similar to a liquid CD has a term of 3 months to 12 months and allows for early withdrawal after 7 days.
The PNC Bank step up CD has CD rate that increases to fixed rates at predetermined levels. The CD interest rate increases are set every 6 after the account is opened. The account holder of the PNC Bank step up CD also has the ability to withdraw funds every 6 months without an early withdrawal penalty.
One of the best PNC Bank CDs right now is a 9 month promotional CD with a rate of 0.40%.
Additional standard foxed rate CDs offered by PNC Bank include the following rates and terms:
PNC 1 month CD rate 0.10%
PNC 3 month CD rate 0.15%
PNC 6 month CD rate 0.20%
PNC 12 month CD rate 0.45%
PNC 18 month CD rate 0.50%
PNC 24 month CD rate 0.45%
PNC 36 month CD rate 0.65%
PNC 48 month CD rate 1.00%
PNC 60 month CD rate 1.20%
PNC 84 month CD rate 1.70%
PNC 120 month CD rate 1.95%
The PNC CD Annual Percentage Yields are accurate as of June 2011; CD rates are subject to change. Early withdrawal penalties may apply.
PNC Bank offers a variety CD terms and CD rates including promotional CDs. Standard PNC Bank CD terms range from 30 days to 10 years. All of the standard CDs have a minimum deposit requirement of $1,000.00 with the exception of the short term, 1 month CD which has a $5,000.00 minimum requirement.
Current PNC Bank CD rates and terms include:
1 month PNC Bank CD rate is 0.10%
3 month bank CD rate is 0.15%
6 month CD rate is 0.25%
1 year PNC Bank CD rate is 0.60%
18 month CD interest rate is 0.80%
2 year CD rate is 0.90%
3 year CD interest rate is 1.15%
4 year bank rate is 1.25%
5 year CD rate is 1.55%
10 year PNC bank CD rate is 2.00%
PNC Bank offers a no penalty or liquid CD called a Ready Access CD that offers a fixed rate and the flexibility of access to the funds any time after the first seven days without penalty.
3 month PNC Bank Ready Access CD rate is 0.15%
1 year PNC Bank Ready Access CD rate is 0.15%
Current promotional CD rates offered by PNC bank include:
9 month CD with an interest rate of 0.50%
A 3 year callable CD with a rate of 2.00%
A 5 year callable CD with a rate of 3.00%
The minimum deposit for the PNC Bank callable CDs is $10,000.00. The 9 month promotional PNC Bank CD requires a $1,000.00.
With the exception of the callable bank CDs, all of the CDs have fixed interest rates and fixed terms and all CDs are covered by FDIC insurance up to the maximum limit per account. The callable CDs may be called by the bank at any time after the first twelve months for a 3 year callable CD and after the first 24 months for the 5 year callable CD
All of the PNC Bank CDs usually pay a higher interest rate than traditional savings or money market accounts. The bank CDs are good choices for investment diversification as well as short and long term savings goals. The fixed rates provide predictability for the invested funds and the longer the term of the CD invested, the higher the interest rate.
Annual Percentage Yields (APY) are accurate as of Monday April 12, 2010 but are not guaranteed. All PNC Bank CD rates are subject to change at the bank’s discretion prior to opening the accounts and additional conditions may apply. For current CD rates and additional account information a PNC Bank customer service representative can be reached at 888-762-2265 Monday through Friday between 7:00 a.m. to 10:00 p.m and 8:00 a.m. to 5:00 p.m. on Saturday and Sunday, Eastern Time.