PNC Bank Rates and Reviews
PNC Bank currently has some of the best promotional CD rates and best savings rates available from any online bank, which is a stark contrast to their standard CD rates. The current savings rate at PNC Bank on the PNC High Yield Savings Account is at 2.32 percent with an APY of 2.35 percent. The minimum opening deposit for the PNC High Yield Savings Account is only $1.00.
PNC Bank's 19 month promotional CD rates have three tiers with the highest CD rate being on account balance of $25,000 or more with a linked checking account. The current 19 month CD rate from PNC Bank is at 2.72 percent with an APY of 2.75 percent. Without a linked checking account, the CD rate is still high at 2.67 percent with an APY of 2.70 percent. Account balances of $1,000 to $24,999 still earn a decent CD rate of 2.38 percent with an APY of 2.40 percent. If you have less than $1,000 to open an account, that CD rate falls to 0.25 percent.
PNC Bank also has promotional callable certificates of deposit but the CD rates are low. If you give a bank the option to call or redeem the CD before maturity, you would think the bank would give you a high rate to entice you. However, 36 month callable CD rates from PNC Bank are only 0.50 percent. 60 month callable CD rates at PNC are also comparatively low at 1.10 percent.
PNC has been in business for over 160 years and does retail, corporate, and institutional banking. There is also a PNC Asset Management Group that consists of the following groups:
- PNC Wealth Management® provides tailored investments, wealth planning, trust and estate administration, and private banking to high-net-worth families and individuals.
- Hawthorn is one of the country’s largest multi-family offices, providing integrated wealth management solutions to ultra-affluent families and individuals.
- PNC Institutional Asset Management® serves as investment manager and trustee for companies, not-for-profit organizations and retirement plans nationally. PNC Capital Advisors, LLC, a multi-strategy registered investment advisor, focuses on supporting clients' long-term investment objectives.
PNC serves over 8 million customers and small businesses with about 90 locations in 19 states and the District of Columbia. As of September 30, 2018, PNC had $293 billion of assets under administration.
PNC Bank Corporate Profile
- Assets $390 billion
- Deposits $265 billion
- Shareholder Equity $47 billion
- Assets Under Administration $293 billion
- Branches 2,400
- ATMs 9,000
- Employees 53,000
PNC Bank Retail Banking
PNC Bank Consumer and small business banking
- One of the largest banks in the United States based on deposits and branches
- Ranked among top small business lenders
- One of the nation’s top retail lenders and servicers of residential mortgage loans nationwide
- PNC was the first major U.S. bank to design and build bank branches based on U.S. Green Building Council® standards
PNC Bank ASSET MANAGEMENT GROUP
Individual wealth and institutional investment management
- One of the top bank wealth managers according to Barron’s CORPORATE & INSTITUTIONAL BANKING
Financial services for companies and government agencies
- One of the top Treasury Management providers in the country
- Top 5 arranger of traditional middle market loan syndications
- Harris Williams, a leading M&A advisory firm for middle market
Publicly traded asset management firm (minority ownership stake)
- PNC holds a minority ownership stake in BlackRock, one of the largest publicly traded investment management firms in the country
PNC Bank Headquarters
300 Fifth Avenue The Tower at PNC Plaza Pittsburgh, PA 15222