To open a Ready Access CD, you must visit a PNC branch. These CDs offer a fixed rate and the ability to access funds any time after the first seven calendar days without early withdrawal penalties. PNC Bank also offers Ready Access CDs in terms of three months and 12 months. Just keep in mind that you’ll earn less on your principal balance if you withdraw your interest before the maturity date. If you want your interest payments to be disbursed monthly by check, you’ll need to have a CD with a minimum balance of $5,000 or more. You can choose to have interest paid by check or credit to a PNC Bank account on a monthly, quarterly or semiannual basis. Interest on all PNC Bank Fixed Rate CDs is compounded monthly and credited to your account monthly.
Yet there are other online banks that pay substantially higher rates with lower opening deposit requirements. Overview of PNC Bank CDsįixed Rate CDs at PNC Bank require an opening deposit of $1,000, which is comparable to opening balance requirements from other large national banks. With an opening balance of $25,000 or more, the rate on all nonpromotional CD terms increases to 0.03%.
