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PNC CD Rates: Pros, Cons, and Current Rates

The article from MSN Money discusses PNC Bank's Certificate of Deposit (CD) offerings, detailing their pros, cons, and current rates as of early 2024. PNC provides a variety of CD terms ranging from 7 days to 10 years, with rates that are competitive but not the highest in the market. Key points include a $1,000 minimum deposit requirement for standard CDs, with promotional CDs occasionally offering higher rates for shorter terms. PNC's CDs come with the advantage of being backed by a well-established bank, offering FDIC insurance up to $250,000, and the convenience of online and mobile banking. However, the cons include lower APYs compared to some online banks, potential penalties for early withdrawal, and the lack of a no-penalty CD option. The article also mentions that while PNC does offer relationship rates for existing customers, these rates might still not match the top yields available elsewhere. Overall, PNC's CDs are presented as a safe but not necessarily the most lucrative option for those looking to invest in CDs.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/pnc-cd-rates-pros-cons-and-current-rates/ar-BB1quMVz ]