Update 12/4/19: Rate has now decreased to 1.9%, for the best high yield savings accounts click here
Update 11/11/2018: Rate increased to 2.35% APY from 2.2% APY. Hat tip to reader Gerry. This is now the top high yield savings account.
Offer at a glance
- Interest Rate:Â 1.9% APY
- Minimum Balance:Â None
- Maximum Balance: N/A
- Availability:Â Looks like this excludes any state with a physical PNC branch. List of those states here.
- Hard/soft pull:Â SoftÂ
- ChexSystems: Mixed datapoints
- Credit card funding:Â Up to $2,000 with Visa, Discover or Mastercard
- Monthly fees:Â None
- U.S. Citizen: Yes, required to be a citizen to open online
- Insured:Â FDIC
The Offer
- PNC now offers a high yield savings account offering 1.9% APY with no requirements or monthly fees
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Our Verdict
The top high yield savings accounts are currently offering 2.25%, slightly higher than this account. There is two reasons why you might choose this account over those:
- You can fund this with a credit card, earning you rewards points or helping to meet minimum spend requirements
- Balances in this account can be used to help keep the PNC checking accounts fee free, they offer bonuses of up to $300
Hat tip to readers 9ballAJ and the other readers who previously sent this in that I have unfortunately forgotten about.
Rate now at 1.00%
Rate is now 0.65% on this account
01/15/20 rate dropped to 1.75
We wanted to inform you that on January 15, 2020, your PNC High Yield SavingsSM Annual Percentage Yield (APY) has changed to 1.75%
Now 1.9% in CA.
“We wanted to inform you that on December 3, 2019, your PNC High Yield SavingsSM Annual Percentage Yield (APY) has changed to 1.90%.”
Luckily the rate is staying at ~2%. Let’s hope it goes back up.
The rate dropped to 2.00% recently (I noticed it October 30).
Just got an email saying the rate retroactively dropped to 2.15% on August 20.
Ugh, I missed this and don’t see the email but it is updated in my account. Citi just dropped theirs too so I was going to move more here, but never mind I guess.
Both the Chase Freedom and Chase Unlimited now offer $200 sign up bonus for spending $500 in 3 month.
William Charles
https://creditcards.chase.com/cash-back-credit-cards?iCELL=61FZ&jp_ltg=chsecate_cashback
My rate dropped to 2.13% a few days ago.
2.15% for me on both savings account and Virtual Wallet.
I would caution against this bank. I’ve had a virtual wallet account for years and any time i’ve had an issue it takes weeks (like 6-7 weeks!) to resolve anything. I’m on here researching ways to get out of this bank. Look elsewhere!