Updated October 14, 2023

PNC High Yield Savings Review

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PNC's High Yield Savings account features a strong APY with no required balance. Sounds too good to be true, right? Read on to know all the details.

5-point scale (the higher, the better)

Pros and Cons

  • Competitive APY
  • No monthly fees
  • Not available in all states

Bottom Line

Savings account with solid APY and no hidden fees

PNC Bank's High Yield Savings account has an impressive APY for savers to enjoy.

You can also manage and grow your money through their seamless online banking platforms, making them a convenient choice.

However, not everyone is eligible to sign up for their high-yield savings account. Read on to find out more.

What Is PNC High Yield Savings

PNC Bank's High Yield Savings account boasts a high 4.65% APY with no minimum balance. Among their various savings products, this one has the highest APY rate.

They have no minimum opening deposit or monthly maintenance fees, meaning you won't have to worry about any surprise charges.

Your money is also secure with them because they are FDIC-insured up to the max amount allowed by law.

If you're interested in making your money work harder, PNC's High Yield Savings account is a good option.

In order to earn the APY rate being offered, you must have a minimum daily balance of at least $1 in your account.

Fees To Look Out For

Though PNC has no monthly charges, they do have fees for the following services and transactions:[1]

  • $25-$30 for outgoing domestic wire transfers
  • $40-$50 for outgoing international wire transfers
  • $15 for incoming international wire transfers
  • $3 for every excess transaction past the 6-transfer limit

PNC provides banking cards for all their savings accounts at no additional cost. This gives you easy access to your money through their ATM network.

Digital Banking Features

Since PNC's high yield savings account is mostly online, they offer various digital banking services for your convenience.

You can do a lot of things through the PNC website and mobile app, such as accessing your account, checking your balance, transferring money, and the like.

If you want to save money more efficiently, you can also set up PNC's auto-savings plan, which will automatically transfer funds from your PNC checking account to your savings account.[2]

Pros and Cons


  • Competitive APY on entire balance
  • No monthly fees or service charges
  • No minimum opening deposit
  • Comes with ATM card and access


  • Not available in all states
  • Limited to 6 transfers per billing statement

Who Is Eligible to Open a PNC High Yield Savings Account?

At the time of writing, only those who live in the following states are eligible to open a PNC High Yield Savings account: AK, AR, AZ, CA, CO, CT, HI, ID, IA, KS, LA, ME, MS, MT, NE, NM, NV, NH, ND, OK, OR, RI, SD, TX, UT, VT, WA, WV, WY, and Online and in a PNC Solution Centers in MA, MN, TN and in the greater Kansas City area in MO.

Who Should Open a PNC High Yield Savings Account?

PNC Bank's High Yield Savings account is best for those who want a good APY rate with no minimum balance. This is because you can save money at your own pace and still earn interest.

It is also a good option for consumers who want a great digital banking experience along with access to ATMs across the US.

How do I deposit to my PNC High Yield Savings account?
There are several ways you can make a deposit, such as online banking transfer, mobile check deposit, wire transfer, or mail check deposit.

Is PNC Safe?

Yes, PNC is a safe bank for your money. They are a member of the FDIC (Certificate #6384) which means deposits are insured up to $250,000 per depositor, per ownership category.

How PNC High Yield Savings Compares to Other Banks

Given all the above-mentioned features, let's take a look at how PNC's High Yield Savings compares to that of other banks.

Compound Interest Calculator

PNC High Yield Savings vs CIT Platinum
CIT Bank's Platinum Savings account offers 5.00% APY with a balance of $5,000 or more. However, unlike PNC High Yield Savings, they have a minimum opening deposit of $100.

PNC High Yield Savings vs Ally High Yield Savings
Ally Bank's High Yield Savings account has a 4.20% APY on the entire balance. They also offer a more sophisticated digital banking platform featuring effective tools such as buckets and boosters.

Other PNC Savings Products

Aside from High Yield Savings, PNC Bank offers other savings products: Virtual Wallet Growth, which is part of the Virtual Wallet bundle, Standard Savings, S is for Savings, and Premiere Money Market account, which is available in select markets.

PNC's Virtual Wallet is a combination of online checking and savings accounts in one that allows you to earn interest. It's best for those who want a one-stop shop for all their financial management needs.

PNC's Standard Savings is their most basic savings account. Though the rates are low, it serves as a good option for those in the early stages of their budgeting journey.

PNC's S is for Savings account is an online banking experience for children. It aims to teach kids how to manage their finances in a simple, fun, and interactive way.

PNC's Premiere Money Market account is a relationship-based savings account and is accessible only in eligible markets. You can earn higher rates when you link to a select PNC checking account and meet transactional requirements.

Bottom Line

PNC's High Yield Savings account features a competitive APY rate with no minimum balance required. It is a great option for those with limited funds but still want to earn interest.

They also have a good digital banking system that allows you to manage your finances wherever you are. The downside is this product is limited to certain states only.

So, if you are eligible to get a PNC High Yield Savings account, make sure to check it out!


  1. ^ PNC Bank. Consumer Schedule of Service Charges and Fees, Retrieved 9/27/2023
  2. ^ PNC Bank. Auto Savings, Retrieved 10/8/23
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