Popular Direct

Deposits held and insured by Popular Bank

Overview / Commentary
800-274-5696
85 Broad Street
New York, NY 10004
Deposits held and insured by Popular Bank

Related Posts

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

Popular Direct Lowers Savings To .75% APY - 8/1/2020

Used to be 1.05%, dropped to .75% APY. https://www.populardirect.com/products/savings/popular-direct-select-savings/

Popular Direct Slashes CD Rates; Savings Rate Steady For The Moment - 3/16/2020

Per Popular direct website, while the savings rate remains at 1.80% APY for the moment, CD rates have been severely cut -- 1, 3, and 4 yrs. at 1.05% APY and 5 year at 1.15% APY. Full rate table below (all rates APY): 3 Month 0.80% 6 Month 0.85% 1 Year 1.05% 18 Month 0.90% 2 Year 0.95% 3 Year 1.05% 4 Year 1.05% 5 Year 1.15%

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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.

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Health
A

Data as of Q4 2020

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

Health Grade Components

Overall
FDIC Certificate #34967
Year Established1999
Employees688
Primary RegulatorFED
Profit Margin
Return on Assets - YTD-0.01%
Return on Equity - YTD-0.04%
Annual Interest Income$385.1MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$10.26B$10.06B
LoansQ4 2020vs Q4 2019$7.66B$7.18B
DepositsQ4 2020vs Q4 2019$7.77B$7.63B
Equity CapitalQ4 2020vs Q4 2019$1.81B$1.82B
Loan Loss AllowanceQ4 2020vs Q4 2019$156.5MM$45.1MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$38.7MM$45.8MM
Real Estate OwnedQ4 2020vs Q4 2019$1.6MM$2.1MM
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
0.55%--Popular Direct Select Savings

Popular Direct CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.80%$10k-5 Year Popular Direct CD
0.60%$10k-4 Year Popular Direct CD
0.50%$10k-3 Year Popular Direct CD
0.40%$10k-2 Year Popular Direct CD
0.35%$10k-18 Month Popular Direct CD
0.25%$10k-1 Year Popular Direct CD
0.20%$10k-6 Month Popular Direct CD
0.15%$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 85 Broad Street - New York, NY 10004

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.