Popular Direct

Deposits held and insured by Popular Bank

Overview / Commentary
85 Broad Street
New York, NY 10004
Deposits held and insured by Popular Bank

Related Posts

Drop In Savings Rate At Popular Direct - 6/3/2021

Popular Direct has dropped their rate to 0.45% APY on the Select Savings account, was 0.50%.

Rate Drop To .65 On High Tier Ultimate Savings - 10/15/2020

Just checked account and they have dropped rate to .65 % 10-15-20

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12/17/18 - 60 Month Interest Rate Bumped Up Again
12/3/18 - Popular Direct Nudges Its 1 Year CD To 2.85% APY
12/3/18 - Popular Direct Plus Savings Now 2.36%
11/21/18 - Popular Direct Ups 12 Month CD To 2.81% APY, Minimum $10K
10/26/18 - Popular Direct Savings Rate Increase To 2.26%
10/24/18 - Popular Direct Pushes 5-Year CD APY Upward
10/18/18 - 5 Year CD Raised
10/10/18 - Savings Raised To 2.10%, $5K Min
8/16/18 - Popular Direct Credits Accounts to Correct Effective Date Mistake
7/24/18 - Popular Direct Ups Plus Savings Rate
7/23/18 - Popular Direct Implements 60-Day Account Freeze On New Accounts
7/21/18 - 5 Year CD Rate Increase To 3.25% APY
5/26/18 - Bad News - A 60-Day Account Authorization Hold May Be Placed On All New Accounts
5/17/18 - Popular Direct - Savings Rate Confusion
5/17/18 - Popular Direct Cuts Savings Rate To 1.85% Was 2.00%
5/16/18 - Popular Direct's 5-Year CD Leads Internet Banks
5/15/18 - Popular Direct Offering 3.05% APY On 5 Year CD
4/16/18 - Popular Direct Increases 5 Year CD Rate
4/2/18 - Popular Direct Ups Exclusive Savings Account Rate
4/2/18 - New 2.00% Savings Rate
3/7/18 - Popular Direct - 2.75% 5 Year CD Rate
2/28/18 - Popular Direct's Exclusive Savings Account Rate Jumps
2/27/18 - Popular Direct Offering New 1.65% Savings Rate
2/20/18 - Popular Direct's 18-Month CD Rate Climbs
2/3/18 - Popular Increases 18 Mo CD To 2.15% APY
1/17/18 - Popular Direct Ups Long-Term CD Rates And Adds New Savings Account
1/17/18 - Popular Direct Raises APY To 1.50% (was 1.4%)
12/13/17 - Popular Direct's 18-Month CD Breaks The 2.00% APY Barrier
9/25/17 - Popular Direct Boosts Plus Savings Account Rate
9/23/17 - Popular Direct Plus Savings, 1.40% APY
8/4/17 - Savings Rate Is Now 1.21% APY
7/3/17 - Popular Direct's Short-Term CDs Enjoy Top Rates
6/30/17 - One Year CD Rate Of 1.55%
6/27/17 - Popular Direct Raises 2-Year CD Rate
6/7/17 - Popular Direct Parent Bank Rescued By Santander
5/12/17 - 2-Year And 5-Year CD Rate Hikes At Popular Direct
3/27/17 - Popular Direct (Internet Bank) Ups 3-Year CD Rate
1/21/17 - Popular Direct Savings Rate Lowered From 1.26% To 1.15% Effective 1/4/2017
1/6/17 - Popular Direct’s 5-Year CD - Rate Leader for Internet Banks
1/5/17 - Popular Direct CD Issue with Listed Rates and APYs
12/6/16 - Savings Account The Older Product Still Has The Rate Of 1.26%
12/5/16 - Savings Account Rate Cut
11/14/16 - Popular Direct (Internet Bank) Raises CD Rates
8/5/16 - Popular Direct (New Internet Bank) Debuts 1.26% Savings Account

Just Read The Account Conditions Before Investing

I have investments in a CD and Ultimate Savings Account with Popular and all has gone well. But then again, I read the conditions of the Ultimate Savings Account and understood how it worked before I plunked my money down.

So many of the complaining customers act so outraged when the bank treats their account exactly like they said they would - - in writing.

Yesterday I did a transfer from Popular to my external account and it was there this morning.

Yes, rates in a savings account can go down. That's the nature of a savings account. If you don't want that to happen, buy a CD.

The representatives on the phone have always been responsive and polite to me, likely because I'm polite with them. Try it.

No Problems With Frozen Account Or Transferring Money

Posted by: |

Reading all these negative reviews about this bank ~ I panicked and tried to transfer $5,000 out a couple days ago. Just checked today and had no problems what so ever. I have had an account of some form with Popular Bank for a couple years now; I just keep opening up a new account when they offer better rates and transfer all but $500 until the old account has been opened 180 days to avoid the early withdraw fee... THAT is a pain, but I must say I have never encountered any issues and whenever I call customer service, I am satisfied with the service that I get. Their website isn't as sophisticated as others, but I keep getting the great interest rate which makes me stay.

Watch Out!

Posted by: |

Take a look at the very fine print on the account agreement before you do business with this bank. When you close your account, they DO NOT accrue interest to the closing date. That can get expensive if you don't pay attention.

Savings Account Terms Are Deceiving - Beware

Posted by: |

I had 2 savings accounts with Popular Bank for last few years. I closed them mid month and was told that I forfeited my accrued interest. Their terms and conditions states that interest is accrued daily and post end of month. There is a very, very tiny footnote that state I lose the interest if I close accounts before they post the interest. It took me at least 10 minutes talking to the customer rep to find the footnote.
I believe this is deceitful. Otherwise it would have been in the main body of the document instead of an extremely tiny footnote.
I deal with over 20 banks and not one keeps my accrued interest! I believe Popular Bank is dishonest. I will never use them again.



Data as of Q2 2021

Data displayed below is for insuring bank: Popular Bank
Learn why bank health matters

Health Grade Components

FDIC Certificate #34967
Year Established1999
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.29%
Return on Equity - YTD7.25%
Annual Interest Income$181.6MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$10.20B$10.59B
LoansQ2 2021vs Q2 2020$7.80B$7.49B
DepositsQ2 2021vs Q2 2020$7.74B$8.16B
Equity CapitalQ2 2021vs Q2 2020$1.86B$1.78B
Loan Loss AllowanceQ2 2021vs Q2 2020$123.9MM$162.7MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$36.1MM$38.4MM
Real Estate OwnedQ2 2021vs Q2 2020$1.5MM$1.7MM
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Popular Direct Savings Account Rates

0.45%--Popular Direct Select Savings

Popular Direct CD Rates

1.00%$10k-5 Year Popular Direct CD
0.60%$10k-4 Year Popular Direct CD
0.50%$10k-3 Year Popular Direct CD
0.35%$10k-2 Year Popular Direct CD
0.25%$10k-18 Month Popular Direct CD
0.15%$10k-3 Month Popular Direct CD
0.15%$10k-6 Month Popular Direct CD
0.15%$10k-1 Year Popular Direct CD

Popular Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 85 Broad Street - New York, NY 10004

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