If you are wondering what to do with that extra money gathering dust on your night table, a CD could be the best option for you.  CDs are ways to gain more interest on money you won’t be needing for a while.

CDs Offered Through PNC

There are a five different CDs offered and each offer a variety of terms for for you to choose from.  All of the different accounts are FDIC insured up to the maximum amount permitted by law.  The terms offered through these CDs range from 7 days to 10 years.  Choosing the correct term for your money is important, because there is a fee if you withdraw your money before the maturity date.  A fixed rate CD offered through PNC Bank requires $1,000 to open the account for terms of 90 days to 10 years.  If you are looking for a shorter term, between 7 to 89 days, the opening balance is $5,000.  The opening balances required for the other CDs through PNC vary between $1,000 to $10,000 depending on the CD.

The interest rates on the CDs offered through PNC aren’t available on the website.  The best rates chart says the best interest rates for CD amounts of $10,000 and for terms between 9 months to a year in a half is around 1.15 percent.

If the interest rates for this account are comparable to the best rates available you can apply for one of their PNC’s CDs online through their website.