At Creditvana.com, we’re all about helping you grow your money the smart way — and that starts with putting your savings in the right account. If you’re looking for a high-yield savings option, PNC Bank may have just what you need — but with a few caveats depending on where you live.
PNC offers two main savings options:
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The PNC High Yield Savings®, with a top-tier 3.95% APY
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The Virtual Wallet – Growth, available nationally, offering up to 1.85% APY
Let’s break down both options and help you decide if PNC deserves a spot in your financial strategy.
🔥 PNC High Yield Savings® – Earn 3.95% APY
The PNC High Yield Savings® account is one of the more competitive options on the market today. With a whopping 3.95% annual percentage yield, it blows past the national average of just 0.39% APY.
What we love:
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No monthly maintenance fees
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No minimum opening deposit (when opened online)
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High APY that rivals top online banks
Where it’s available:
Unfortunately, this account is not offered nationwide. It’s only available in select states, including:
Alaska, Arkansas, Connecticut, Hawaii, Idaho, Iowa, Louisiana, Maine, Minnesota, Mississippi, Montana, Nebraska, Nevada, New Hampshire, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, Washington, and Wyoming.
If you’re in one of these states, this account is absolutely worth considering.
💼 PNC Virtual Wallet® – Growth Savings Account
For those outside the select markets, PNC offers a more widely available option: the Virtual Wallet with Growth, which is a hybrid account combining checking and savings features.
Interest Rates (APY):
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1.60% APY for balances under $2,500
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1.85% APY for balances of $2,500 and above
(Note: Rates may vary by region)
That’s still above average, but not quite as impressive as the High Yield Savings account.
Monthly Fees:
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$7 monthly fee, waived if you meet one of the following:
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Keep at least $500 combined average monthly balance in the Spend or Reserve sections
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Receive $500 or more in qualifying direct deposits to the Spend account
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Be 62 or older
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Be a PNC employee
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Minimum Deposit:
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$0 to open online
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$25 minimum if opening in a branch
🏦 How PNC Stacks Up Against Big Banks
PNC is currently the 7th largest bank in the U.S. by assets, giving it a strong national footprint and access to thousands of branches and ATMs. While many big banks are still offering near-zero APYs on savings, PNC stands out — especially with its High Yield Savings® product.
Most large banks still cap out at under 1.00% APY, and some of them charge monthly fees just to park your cash. With PNC’s high-yield option offering 3.95% APY and no monthly fees, it’s a strong contender — if you live in a qualifying state.
🧠 Creditvana’s Take: Is It Worth It?
✅ If you’re in a state that offers the PNC High Yield Savings®, you’d be hard-pressed to find a better mix of high returns, no fees, and no minimum deposit requirements. It’s one of the more accessible high-yield options among traditional banks.
✅ If you’re not in one of the eligible states, the PNC Virtual Wallet – Growth still offers respectable rates, especially if you keep a higher balance and want the convenience of combining your checking and savings.
💡 Pro Tip: Always compare rates — you might find an online savings account that beats both options depending on your goals.
