Start by identifying the purpose of the account. Ask yourself, are you saving for an emergency fund, a significant purchase, or long-term goals like retirement or education? Knowing your goals will help determine the right type of account. For example, if you need regular access to the funds, a traditional or high-yield savings account offers flexible withdrawals. However, if you do not plan to access the funds for some time, a certificate of deposit may provide higher interest rates in exchange for leaving the funds untouched over a specified term.

Next, compare interest rates across accounts. Higher rates help account balances grow faster, making accounts that earn higher rates an attractive offer for many savers. Also, be mindful of fees, minimum balance requirements, or transaction limits that could diminish earnings or limit access to funds. Finally, consider convenience features, such as automatic savings plans and online and mobile banking capabilities.

You can open a PNC savings account online or in person. You'll need:

• A U.S. government-issued photo ID such as a driver’s license, a non-driving state identification card, a military ID, or a passport. 
• Personal information, including Social Security number, date of birth, and current residential address.

You may need more information or additional documentation depending on the account type, and whether you are applying online or in-person. 

Learn more about the general requirements for opening a new savings account.

Yes – you can open any of our traditional savings accounts online. To open a Certificate of Deposit account, please make an appointment.

We do require customers under the age of 18 to visit a branch with a parent to apply for a new account.

Read the step-by-step guide to opening a savings account online.

Once the account is open, you may be able to manage it entirely online so you can start saving right away from the comfort of your home. However, you may want to consider where our branches are, in case a situation arises where you prefer to handle a transaction or question in-person. 

Want to speak to a banker? Find a PNC Branch

Yes, savings accounts earn interest, providing the opportunity to grow your account balance over time. The rates can vary depending on several factors, including the account type, current balance, and market conditions. 

Note that some savings accounts may require a minimum balance to receive the advertised interest rate. Accounts may also structure rates in tiers based on the account balance.

Annual Percentage Yield (APY) shows the actual interest rate an account earns in a year, factoring in the effects of compounding. Unlike a simple interest rate, which only calculates interest on the principal amount, APY provides a more comprehensive view by including both the interest rate and whether the interest is compounded daily, monthly, or annually.

If two accounts have the same interest rate but different compounding rates, the account that compounds more frequently has a higher APY and offers greater account growth over a specific period.

Explore APY calculations.

Yes! Many people use multiple savings accounts to organize their money for goals or expenses.

We offer several account options, each with unique features to suit different needs.

For example, you might have one account for an emergency fund, another for vacation savings, and a separate account for long-term goals like a down payment on a house.

The minimum balance on a savings account is the smallest amount the owner must keep in the account to receive certain benefits. These benefits may include the waiver of monthly maintenance fees or even the ability to earn some interest on deposited funds.