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

Still Under That 5% APY But Popular Direct Sweetens The Rates Again - 11/22/2022

3 Months 3.005% 3.05% 6 Months 4.066% 4.15% 12 Months 4.354% 4.45% 18 Months 4.373% 4.47% 24 Months 4.402% 4.50% 36 Months 4.450% 4.55% 48 Months 4.373% 4.47% 60 Months 4.402% 4.50% https://www.populardirect.com/products/cds#compare-cds

Increased Certificate Rates Across Their Offerings - 10/31/2022

It appears that Popular Direct has again posted new increased rates as of 10/31/2022 : https://www.populardirect.com/products/cds#compare-cds CD Term Rate (APY) 3 Months 1.980% 2.00% 6 Months 3.344% 3.40% 12 Months 3.826% 3.90% 18 Months 3.874% 3.95% 24 Months 3.893% 3.97% 36 Months 3.922% 4.00% 48 Months. 3.922% 4.00% 60 Months. 3.970% 4.05%

Popular Direct Increases CD Rates - 10/18/2022

New Rates posted today on Popular Direct CD's 12 Months 3.633% 3.70% 18 Months 3.682% 3.75% 24 Months 3.730% 3.80% 36 Months 3.778% 3.85% 48 Months 3.826% 3.90% 60 Months 3.826% 3.90%

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11/1/19 - Popular Direct Again Cuts Savings Rate
11/1/19 - How Low Can They Go? Down Again
10/21/19 - High Yield Savings Drops YET AGAIN
10/7/19 - 10/7/19 Rate Reduced To 2.3%
9/9/19 - Savings Rate Drop 9/9/19
8/30/19 - Ultimate Savings Slight Rate Drop 8/30/19
8/1/19 - Popular Direct Unveils Ultimate Savings Account, 2.55% APY
7/31/19 - Ultimate Savings Account 2.55% APY
1/31/19 - CD Rate Reductions
1/30/19 - 5 Year CD Rate Drops Again
1/22/19 - 1 Year CD Drops To 2.73% From 2.85%
1/22/19 - Popular Direct Rate Decline - 5 Year CD
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.

I Was Satiated, But Then - - -

I was happy with the Popular savings account for a couple of years. Then I noticed Popular had a new savings account with a slightly different name paying more than my "Ultimate" savings account.

I called them and asked why I wasn't receiving the new higher yield and the agent said the only way to do that was to close out my Ultimate account and start a new account under the new name.

I closed the account and moved it to an institution paying more. If management wanted to alienate existing customers, this is a way to do it.


Posted by: |

Buyer beware-- classic bait and switch. I signed up for a savings account two years ago when the Fed rate was at an all time low. They paid 2% which was great. Last week I realized that they were only paying me 0.4% for the same money in the same account. When I contacted customer service I was told that I needed to request to change to another savings account-- i.e. one with a different name. So why when I had the maximum rate account they offered did that same account change to a mediocre rate account? I should have checked more often. BEWARE
Customer service online and on the phone was a B+grade.
Also if you want to close your account-- you first have to transfer the money out to achieve a zero balance. THEN YOU HAVE TO CALL THE BANK BEFORE THE END OF THE MONTH TO finish closing the account or you will RACK UP FEES... When I took my balance to zero online today the online webpage gave me no warning of the need to make a call to finalize the closing... There is no way to close the account online only! This is for an "online bank." THEY SHOULD INFORM YOU ONLINE WHEN YOU TAKE TRANSFER OUT $ to take your account to zero that you have NOT CLOSED YOUR ACCOUNT...



Data as of Q2 2022

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 - YTD1.04%
Return on Equity - YTD5.89%
Annual Interest Income$199.0MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$10.82B$10.20B
LoansQ2 2022vs Q2 2021$8.79B$7.80B
DepositsQ2 2022vs Q2 2021$8.48B$7.74B
Equity CapitalQ2 2022vs Q2 2021$1.85B$1.86B
Loan Loss AllowanceQ2 2022vs Q2 2021$101.2MM$123.9MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$31.6MM$36.1MM
Real Estate OwnedQ2 2022vs Q2 2021$1.5MM$1.5MM
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Popular Direct Savings Account Rates

3.35%--High Rise Savings Account

Popular Direct CD Rates

4.55%$10k-36 Month Popular Direct CD
4.50%$10k-24 Month Popular Direct CD
4.50%$10k-60 Month Popular Direct CD
4.47%$10k-18 Month Popular Direct CD
4.47%$10k-48 Month Popular Direct CD
4.45%$10k-12 Month Popular Direct CD
4.15%$10k-6 Month Popular Direct CD
3.05%$10k-3 Month 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

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.