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PNC Bank (Member FDIC) has two savings accounts: the PNC High Yield Savings Account and PNC Bank Standard Savings Account. You're only able to open one, and your eligibility for each depends on where you live.
PNC Savings Rates
The savings account interest rate for PNC's high-yield savings account is 4.65% APY (Annual Percentage Yield), which is impressive when compared to the best high-yield savings accounts. If your goal is to earn a high interest rate, it's a strong choice.
The PNC High Yield Savings Account is an online account. You may be able to open this account if you live in Alaska, Arkansas, Arizona, California, Colorado, Connecticut, Hawaii, Idaho, Iowa, Kansas, Louisiana, Maine, Mississippi, Montana, Nebraska, New Mexico, Nevada, New Hampshire, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Texas, Utah, Washington, West Virginia, and Wyoming. You may also open an account in person if you visit a PNC Solutions Center in Massachusetts, Minnesota Tennessee, or the greater Kansas City area in Missouri.
To open the PNC Bank Standard Savings, you must live in an area with PNC branches. The account pays a low interest rate. You'll earn a slightly higher rate if you link the account to a PNC 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:
| 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 also has the PNC S is for Savings® Account, which is for children and available in areas with PNC branches. It pays 0.01% APY.
Compare Today's Savings Rates
PNC Savings Pros and Cons
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How PNC Savings Rates Compare
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 is a great option to earn a higher savings rate.
However, if you live near a PNC 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, 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 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 360 is an overall stronger option.
Capital One 360 Performance Savings pays 4.30% (as of 7/21/23) APY. This is a bit lower than PNC Bank's high-yield savings account, but significantly higher than PNC Bank Standard Savings.
Also, Capital One 360 doesn't charge monthly service fees on any bank account. In comparison, PNC Bank Standard Savings does have monthly service fees if you can't meet the monthly requirements.
PNC Savings Rates FAQs
PNC Bank has a good high-yield savings account. The PNC High Yield Savings Account pays 4.65% APY and doesn't charge monthly service fees. This account is only available in select markets, though.
The PNC High Yield Savings Account has no monthly service fee. The PNC Bank Standard Savings Account has a $5 monthly service fee, but it can be waived if you meet one of the monthly requirements.
Yes, you can withdraw money from a PNC savings account. That said, PNC Bank charges a $3 excess transaction fee if you go over six transactions per month from your savings account.
Why You Should Trust Us: How We Reviewed PNC Savings Accounts
We rate bank accounts on a scale from zero to five stars. For our PNC saving rates review, we used our bank account methodology, which looks at interest rates, minimum opening deposits, monthly service fees, customer support availability, mobile app ratings, and the ethics of the company to rate both savings accounts.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Read our editorial standards.
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