Popular Direct Review 2025
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Edited by
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At a glance
Overview
Popular Direct is best for anyone looking for an online savings account and certificates of deposit (CDs) that pay top-notch yields. If you’re thinking about signing up, you should be comfortable solely banking online, since there’s no ATM access to withdraw your cash. On that note, it’s important to point out that Popular Direct’s mobile app has received very low ratings, which may be a pain point considering all banking must be done online.
Highlights:
High APY Top CD RatesHighlights:
CDs
Savings
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Checking rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Checking rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
Popular Direct is an online bank that pays highly competitive rates on its certificates of deposit (CDs) and savings account. But it does impose relatively steep minimum deposit requirements for its CDs. Moreover, its product offerings do not include a money market or checking account, making the bank a place to stash savings rather than an account you can make everyday transactions out of.
Pros
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Popular Direct offers accounts with highly competitive rates.
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Any fees that are charged are relatively easy to avoid.
Cons
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There is no ATM access; funds can only be accessed electronically.
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The mobile app has limited capabilities and low customer ratings.
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Checking and money market accounts are not offered.
We want to know what you think about Popular Direct
Do you have experience with Popular Direct? Let us know your thoughts.
Popular Direct products
Popular Direct Select Savings account
Pros
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Popular Direct offers a top-notch APY.
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There is no monthly service fee, which is typical of online banks.
Cons
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No ATM card is provided.
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Accounts closed within 180 days are subject to a $25 fee.
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A $100 minimum deposit is required to open an account. While relatively low, this isn’t required by other online banks.
Rate history for Popular Direct's Savings account
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Popular Direct certificates of deposit
Pros
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There’s a wide variety of short-term and long-term CDs available.
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All CDs pay competitive yields.
Cons
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A very high minimum deposit is required.
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A harsh early withdrawal penalty applies for long-term CDs.
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No bump-up or penalty-free CDs are available.
Rate history for Popular Direct's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
How does Popular Direct compare to other banks?
Compare different account types offered by Popular Direct. Annual percentage yields (APYs) shown were updated between Feb. 14, 2025 and Feb. 20, 2025.
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Selected bank
Popular Direct savings account
Bankrate score
4.8
Bankrate Savings rating = 4.8/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Most comparable
LendingClub Bank savings account
Bankrate score
5.0
Bankrate Savings rating = 5.0/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Search for or select a bank:
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Bankrate score
Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Feb. 14, 2025 and Feb. 20, 2025.
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| 4.30% | 4.50% | |
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Minimum balance for APY
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| $100.00 | $0.00 | |
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Estimated earnings
Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
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| $2,150 | $2,250 | |
| Popular Direct’s high-yield savings account earns a rate that’s tough to beat, and the $100 minimum required opening deposit is manageable. The account allows for mobile check deposit, although an ATM card is not included. | LendingClub Bank offers a LevelUp Savings account that rewards you with a top yield when you make deposits totaling at least $250 per statement cycle. The account has no monthly service fees and no minimum balance required to earn interest, though your savings rate can vary if you don't meet the $250 requirement in a given month. | |
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APY offering:
4.30%
5/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$100.00
4/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Good
4/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
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APY offering:
4.50%
5/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$0.00
5/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Great
5/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
|
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
The lowest deposit amount an account must have before it can earn interest.
A monthly charge a financial institution deducts from an account if certain requirements are not met.
The lowest balance an account must maintain in order to avoid a fee.
A procedure that allows an individual or organization to access and manage the funds of another account holder.
Bankrate does not currently track additional product details for this bank.
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Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | $10* |
| Non-sufficient funds fee | None |
| Monthly maintenance fee | None |
| Out-of-network ATM fee | None |
| Excessive transaction fee | None |
*Overdraft fee may be charged up to three times per day.
Customer experience
Customer support. Customer service can be reached over the phone between 7:30 a.m. and midnight ET Monday through Friday, and between 9 a.m. and 6 p.m. on weekends.
Mobile app. Popular Direct’s mobile app allows for basic account management, including viewing your account balance and depositing funds remotely. Overall, the app receives very low user ratings on the Google Play and the Apple App stores. The Popular Direct savings account does not come with an ATM card, so customers who want to deposit or withdraw money will need to rely on methods like external transfers and mobile deposit capture.
Customers have additional capabilities when logged onto the bank’s website, such as setting up account alerts, accessing e-statements and transferring money between external accounts.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
Popular Direct customer reviews
Popular Direct has 25 reviews
Dive into community reviews below and see what others think about Popular Direct.
In July 2024, Bankrate collaborated with a third-party vendor to survey 1,200 bank account holders nationwide. Bankrate and our vendor collected and summarized account holder responses to five rating questions on a 5-point scale as well as open-ended reviews of the banking experience. Responses are based on individual account holder product details, and therefore cannot be verified for accuracy. Reviewers received an incentive for their feedback. Their ratings are unedited and have not been reviewed or approved by the associated bank or credit union, nor do these responses reflect Bankrate's own expert review of these banking products.
Community Reviews
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