bank rates

PNC Bank: Perfect Record Of Bad CD Rates

All of its CD rates are below average.It’s been a while since we’ve found a bank with CD rates that fall below average in every standard term.

Would that qualify as a full house? A flush?

Sorry, PNC Bank, we’ll simply call it a FAIL.

Here’s why:

3-month CD rate is 0.07% APY versus an average rate of 0.15% APY. (Leaderboard leader is 0.65% APY.)

6-month CD rate is 0.10% APY versus an average rate of 0.22% APY. (Leaderboard leader is 0.85% APY.)

12-month CD rate is 0.20% APY versus an average rate of 0.33% APY. (Leaderboard leader is 1.15% APY.)

24-month CD rate is 0.35% APY versus an average rate of 0.52% APY. (Leaderboard leader is 1.25% APY.)

36-month CD rate is 0.40% APY versus an average rate of 0.69% APY. (Leaderboard leader is 1.55% APY.)

60-month CD rate is 1.00% APY versus an average rate of 1.13% APY. (Leaderboard leader is 1.91% APY.)

Those rates all require a $1,000 minimum balance and appear to be consistent nationwide, although the website asks for a ZIP code.

PNC Bank’s current promotion is a 9-month CD that pays 0.15% APY to 0.20% APY, depending on your relationship with the bank.

Yeah, that’s a FAIL, too.

Of course, all of the offerings on our CD Rates Leaderboard are above average.

Learn more about PNC Bank, which has about 2,500 branches in 16 states and the District of Columbia, at www.pnc.com or call 888-762-2265.

There are definitely better deals out there, and you’ll find them if you compare PNC Bank’s returns with the best CD rates from scores of other banks in our extensive database.

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