The service is available to Premier Client customers with more than $200,000 of assets at PNC Wealth Management. The minimum line of credit is $100,000, repayments are interest-only, and clients can obtain a personalised evaluation of their borrowing capacity through a PNC Premier Client banker. Additionally, the credit line can be set up in advance of any need.

PNC Wealth Management is the wealth management arm of PNC Bank, National Association, part of The PNC Financial Services Group , one of the largest diversified financial services groups in the US, spanning retail and business banking, corporate and real estate finance, and asset management. Its Premier Client offering serves individuals with between $100,000 and $3 million in investible assets.

Clients with greater wealth are served by PNC Private Bank, which offers a separate securities-based line of credit product for high and ultra-high net worth clients.

"Whether for a home renovation, critical emergency, luxury purchase, debt consolidation or an unexpected tax obligation, our securities-based lending solution can serve as a crucial line of credit for clients without disrupting their financial plans," said Rich Guerrini, president and chief executive of PNC Wealth Management.

The launch follows other recent additions to PNC's retail and wealth offering, including a TotalRewards loyalty program and digital account opening for brokerage accounts, as the bank builds out services across its client tiers.