Featured Savings Rates
Featured Accounts

Popular Direct

Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
2.35%5-year CD5 Year Popular Direct CD
1.15%SavingsHigh Rise Savings Account
1.90%3-year CD3 Year Popular Direct CD

Overview / Commentary
800-274-5696
PO Box 4884
Miami Lakes, FL 33014

Related Posts

2-Year And 5-Year CD Rate Hikes At Popular Direct - 5/12/2017

Last Friday Popular Direct increased its 2-year and 5-year CDs to very competitive levels. I didn’t have time for a blog post, but I wanted to highlight these in a quick forum post. Please note that a big downside with Popular Direct is their harsh early withdrawal penalties (EWPs) 2.35% APY 5-year CD (was 2.30%) EWP = 730 days interest 1.70% APY 2-year CD (was 1.65%) EWP = 270 days interest Also note regarding EWPs: Withdrawals of either credited interest and/or principal prior to maturity will result in early withdrawal penalties More details are available in Popular Direct’s CD disclosure.

Popular Direct (Internet Bank) Ups 3-Year CD Rate - 3/27/2017

Popular Direct (internet bank) has raised the rate on its 3-year Popular Direct CD (1.90% APY). Minimum deposit is $10k, with no stated balance cap.

Popular Direct Savings Rate Lowered From 1.26% To 1.15% Effective 1/4/2017 - 1/21/2017

Dear Popular Direct Account Holder, Thank you for contacting the Popular Direct Customer Service. We apologize for the delay on this response. We can definitely assist you with your inquiry Popular Direct Savings product rate has been lowered from 1.26% to 1.15% effective 1/4/2017 Please be aware this is a variable rate account and it is stated in the terms the rate is subject to change at any time without notice If you have any further questions, please call us at 1-800-274-5696 We are available 24 hours a day, 7 days a week. Thank you for banking with Popular Direct Sincerely, Popular Direct Customer Service

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Good Experience

Posted by: Flackle12 | Dec 13, 2016

I signed up for Popular Direct about a year or so ago. Their rates are very competitive and fair for their CDs, I went with the 24 month CD which is one of the best rates on the market. Opening the account was very easy and their customer service was top notch. Their site is smooth and works very well, I have yet to have any issues with it. I have kept an eye on the account and it seems very secure as nothing suspicious has happened. There are no hidden fees, and their policies are clear and spelled out in concise language. I have had nothing but positive experiences with this bank and I will continue to use this bank in the future.

Poor Customer Service

I used to have a long term savings account with Popular Direct. I had heard good things from a friend So I was excited to try it. But I had nothing but bad experiences with them. The fees were unreasonably high, and they seemed to charge them indiscriminately. It was tough to get a handle for their fee schedule. I would call their customer service number to dispute the clearly fraudulent charges, but I would often get push back from the unfriendly and rude staff, whether communicating by phone or by email.
Also, the mobile App was poorly designed and counter- intuitive. It was clunky and was constantly crashing. It would log me out of my accounts and then I would get an error message if I tried to log back in.

Doesn't Feel Like A Very Reliable Bank So Far

Just opened an account and they have not earned my confidence so far. I investigated only after opening an account and they are not listed in FDIC and Federal Reserve Board. They claim to be associated with Banco Popular of North America but there is not written documentation of this except what they claim on their website. Their instructions on their website on their Create User Profile page for creating a user ID for access to online banking is incorrect (i.e., Must be a minimum of 8 characters, at least 2 letters and 2 numbers and is case sensitive.). I spoke with a customer rep and she gave me very different instructions (i.e., Must have 8 or less characters, 1 capital letter, and at least 1 number). Feeling uneasy, I requested to speak to a floor supervisor who gave me yet a different set of instructions (8-10 characters, include at least 1 number). I am now nervous about putting any more money into this account. I've never encountered this with a legitimate financial institution. Assuming they are somehow still a legit bank, I don't know how else they will be unreliable. Who are these people I am trusting my money with? I'm afraid to put more of my money into my account with them and wondering if I'm better off closing the account and going elsewhere.

Watch Out!

Posted by: Nutgraf | Sep 2, 2016

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.

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Health

Health Grade Components

Overall
FDIC Certificate #34967
Year Established1999
Employees680
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.4%
Return on Equity - YTD1.89%
Annual Interest Income$81.6MM
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$8.83B$7.88B
LoansQ1 2017vs Q1 2016$5.71B$4.95B
DepositsQ1 2017vs Q1 2016$6.31B$5.39B
Equity CapitalQ1 2017vs Q1 2016$1.84B$1.83B
Loan Loss AllowanceQ1 2017vs Q1 2016$50.2MM$35.3MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$124.3MM$114.7MM
Real Estate OwnedQ1 2017vs Q1 2016$2.3MM$2.7MM
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

2-Year And 5-Year CD Rate Hikes At Popular Direct

Ken Tumin   |  
Last Friday Popular Direct increased its 2-year and 5-year CDs to very competitive levels. I didn’t have time for a blog post, but I wanted to highlight these in a quick forum post. Please note that a big downside with Popular Direct is their harsh early withdrawal penalties (EWPs)

2.35% APY 5-year CD (was 2.30%) EWP = 730 days interest
1.70% APY 2-year CD (was 1.65%) EWP = 270 days interest

Also note regarding EWPs:
Withdrawals of either credited interest and/or principal prior to maturity will result in early withdrawal penalties

More details are available in Popular Direct’s CD disclosure.

Rates
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Always verify rates and promotions with the bank or credit union. We are not Popular Direct; we are a rate comparison website and cannot provide official rates or promotions.

Popular Direct Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.15%--High Rise Savings Account

Popular Direct CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.35%$10k-5 Year Popular Direct CD
2.00%$10k-4 Year Popular Direct CD
1.90%$10k-3 Year Popular Direct CD
1.70%$10k-2 Year Popular Direct CD
1.55%$10k-18 Month Popular Direct CD
1.30%$10k-1 Year Popular Direct CD
0.90%$10k-6 Month Popular Direct CD
0.70%$10k-3 Month Popular Direct CD
Locations

Popular Direct is an Internet only bank and does not have branch locations. Its headquarters is located at PO Box 4884 - Miami Lakes, FL 33014