PNC is one of the largest banks in the country, so a PNC Bank savings account is a common starting point for a lot of savers. But PNC does not offer just one savings product, and the rates range from almost nothing to genuinely competitive. Knowing which account you are looking at matters a lot for what you earn. Here is the full breakdown as of July 2026.
The three savings options most people run into are the Standard Savings account, the High Yield Savings account, and the Growth savings inside a Virtual Wallet bundle. They are very different, so let us take them one at a time.
PNC savings accounts at a glance
| Account | APY (as of July 2026) | Monthly fee | How to waive |
|---|---|---|---|
| Standard Savings | 0.02% to 0.03% | $5 | Keep a $300 average balance |
| High Yield Savings | 3.15% | $0 | No fee, select states only |
| Virtual Wallet Growth | 0.02% to 0.03% (standard tier) | $0 on savings | Higher rate on Performance Select tier |
Rates are variable and can change at any time. The gap between the Standard account and the High Yield account is the single most important thing to understand here.
PNC Standard Savings: low rate, small fee
The Standard Savings account is PNC's basic option, and it pays just 0.02% to 0.03% APY depending on your balance. On $10,000, that is roughly $2 to $3 a year in interest, which is essentially nothing.
It also carries a $5 monthly service fee. You can waive that fee by keeping an average monthly balance of at least $300, by being under age 18, or by linking it to certain PNC checking accounts. For most savers, the near-zero rate is the real problem, not the fee.
This is typical of large brick-and-mortar banks. To see how far below the market that sits, compare it to what a high yield savings account has the highest APY this year, where top accounts pay well over 100 times more.
PNC High Yield Savings: 3.15% APY with a catch
PNC also runs a genuinely competitive High Yield Savings account that pays 3.15% APY with no minimum balance and no monthly service fee. That is a night-and-day difference from the Standard account and puts PNC in the same conversation as many online banks.
The catch is availability. This account is offered only in select states, largely outside PNC's main branch footprint, which means many existing PNC customers cannot open it. Check whether your state qualifies before you get attached to the 3.15% number.
If the PNC High Yield account is not available where you live, you do not have to settle for the 0.02% Standard account. A fee-free mobile bank is an easy alternative. Current charges no monthly fees, has no minimum balance, and offers Savings Pods that pay up to 4% bonus savings on qualifying balances, plus get-paid-early direct deposit. It is a simple way to earn a real rate without a location restriction. Our Current banking review covers how the savings features and limits work.
Current Banking
Current Banking
Current is a mobile-first banking app with no monthly fee and no minimum balance. Members can earn up to 4.00% APY with a qualifying direct deposit of $200, receive direct-deposit paychecks up to 2 days early, and overdraft up to $200 fee-free.
Standout feature
4.00% APY on Savings Pods (with a $200+ qualifying direct deposit) plus paycheck up to 2 days early — both included on the standard account for free
Fees
Free
Pros
$0 monthly fee; up to 4.00% APY on Savings Pods with qualifying direct deposit; paycheck up to 2 days early;
Cons
No physical branches
Virtual Wallet and the Growth savings account
Many PNC customers do their saving inside Virtual Wallet, PNC's bundled package of a Spend checking account, a Reserve short-term savings account, and a Growth long-term savings account.
In the standard Virtual Wallet tier, the Growth savings account pays a low 0.02% to 0.03% APY, similar to Standard Savings. The savings side has no monthly fee, but the Spend checking account carries a $7 monthly fee that you can waive with $500 in monthly direct deposits or a $500 average combined balance across Spend and Reserve.
PNC reserves its better savings rates for higher Virtual Wallet tiers. The Performance Select tier offers a higher Growth rate, reimbursements for non-PNC ATM fees, and no charge on domestic wires, but it is aimed at customers who keep larger balances or meet activity requirements. If you are chasing yield on everyday cash, a high-rate checking account elsewhere may out-earn the standard Growth tier.
Fees to watch and how to waive them
Across PNC savings products, the fees to watch are the $5 Standard Savings service fee and the $7 Virtual Wallet Spend fee. Both are waivable, but they require you to either keep a minimum balance or route direct deposits through PNC.
Excessive withdrawal fees can also apply on some savings accounts if you exceed the allowed number of certain transfers in a statement period, so read the account agreement for your specific product. Terms and conditions apply, and fee schedules vary by state.
For readers who want no monthly fees at all and a built-in way to save automatically, Chime is worth comparing against PNC. Chime pairs a fee-free spending account with an automatic savings account that rounds up your card purchases and can move part of each paycheck into savings. There is no monthly fee, no minimum balance, and get-paid-early direct deposit, so you avoid the balance-minimum juggling that PNC's fee waivers require.
Chime
Chime
- Fee-free banking plus early pay access (up to 2 days early with direct deposit)¹ - Overdraft up to $200 without fees for eligible members¹ - 5% cash back on category of choice (with qualifying direct deposit)¹ - 3.75% APY on your savings¹
Standout feature
No credit check, no interest, no annual fee, and no minimum deposit required.
Fees
$0
Pros
Fee-Free Banking and Get paid up to 2 days early
Cons
App/online-only support, no branches
Is a PNC Bank savings account worth it?
It depends entirely on which account you can get. If you live in a state where PNC's 3.15% High Yield Savings is available, it is a strong, no-fee option from a major bank and well worth opening. If you are stuck with Standard Savings or the standard Virtual Wallet Growth tier, the 0.02% to 0.03% rate makes it a poor place to grow money.
PNC's real strengths are its branch network, ATMs, and the Virtual Wallet budgeting tools, which some people value more than a top rate. Just do not confuse convenience with yield. Big-bank savings often pays little, the same pattern you see at rivals like the Fifth Third high yield savings account.
Before you decide, confirm which PNC account you qualify for, then compare it against the best high yield savings account options and understand how much APY a high-yield account should pay this year. Your everyday cash deserves a rate that actually moves the needle.
Frequently Asked Questions
What is the interest rate on a PNC savings account?
It depends on the account. PNC Standard Savings and the standard Virtual Wallet Growth account pay just 0.02% to 0.03% APY, while the separate PNC High Yield Savings account pays 3.15% APY in select states. Rates are variable and can change at any time.
Does PNC charge a monthly fee on savings accounts?
Standard Savings has a $5 monthly service fee, waivable with a $300 average balance or by being under 18. The High Yield Savings account has no monthly fee. Inside Virtual Wallet, savings has no fee, but the Spend checking account charges $7 unless you meet a direct deposit or balance requirement.
Why can't I open the PNC High Yield Savings account?
PNC offers the 3.15% High Yield Savings account only in select states, largely outside its core branch region. If your state is not on the eligible list, you cannot open it, even as an existing PNC customer. Check PNC's current state list before applying.
Is PNC savings FDIC insured?
Yes. PNC Bank is a member of the FDIC, so deposits are insured up to $250,000 per depositor, per ownership category. That protection applies across PNC savings products, backed by the full faith and credit of the US government.
