Dedicated to Deposits: Deals, Data, and Discussion

14-Month CD Special at Banco Popular with Yields from 4.00% to 4.35%


Popular Community Bank
Banco Popular is offering a competitive 14-month CD special. Yields vary by state. The highest rate seems to be in Central Florida with an APY of 4.35%. In New York the APY is 4.15%, and in California it's 4.00%. Minimum deposit is $1,000.

These aren't listed at Banco Popular's website. A reader mentioned seeing these advertised, and I just called for additional details. I was only able to check rates for these 3 states. If you receive a rate quote for your location, please leave a comment. They have a toll-free number at 1-800-377-0800. Press zero to connect to a CSR, and ignore the multiple requests for your account number.

According to the CSR, these rates are scheduled to last through Thursday, 12/04/08. These may change on Friday. No checking account is required, and these should be available for both new and existing customers.

Branches are located in California, Florida, Illinois, New Jersey, New York and in Arlington, Texas. Rates vary by state, so make sure to call to verify.

Checking Account Bonus: Banco Popular has a special website for promotions being offered at New York and New Jersey branches. There's a bonus of up to $125 for opening a Totally Free Checking Account: $25 for another bank's debit card and unused checks, $50 for adding direct deposit and $50 for using their online bill pay. There's also a $50 business checking account bonus.

4.36% 1-year CD and $25 signup bonus: E-LOAN continues to offer a special 4.36% APY 12-month CD and a $25 signup bonus for new customers. This is available nationwide until 12/18/08. Please refer to my previous post for more details about this promotion. E-LOAN is a subsidiary of Banco Popular North America.

Financial Overview: It was reported that Banco Popular's parent, Popular Inc., has received preliminary approval to sell $950 million of preferred stock to the Treasury as part of the government's bank rescue plan.

Banco Popular North America financial ratings are a little weak: 3 stars (adequate) at BauerFinancial and 2 stars (below peer group) at Both ratings are based on 6/30/08 data.

The bank is a member FDIC (FDIC Certificate # 34967).

Related Pages: New York, California, Popular Community Bank, CD rates, Florida

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