On this page14 sections
- Ratings and complaints
- Popular Direct vs. competitors
- Pricing
- Step by step
- Popular Direct legitimacy and licensing
- Popular Direct CD and savings rates
- Popular Direct fees and early withdrawal penalties
- FDIC insurance and combined balances
- Popular Direct complaints and how to avoid problems
- What happens when a Popular Direct CD matures
- Who should skip Popular Direct
- What customers say
- Alternatives
- FAQ
Popular Direct's CD rates are among the higher ones online, up to 5.00% APY on 5 years as of October 5, 2026, but every CD needs $10,000 and early withdrawal penalties run as high as 730 days of interest. It is legitimate and FDIC insured through Popular Bank, the New York subsidiary of Puerto Rico's Popular, Inc. The savings account opens with $100. It suits savers who want a simple rate-focused account and do not need checking, a debit card or ATM access, and who can live with an app that customers rate poorly.
- Bank
- Popular Bank, New York, FDIC certificate 34967, about $15.0 billion in assets as of June 30, 20265
- Parent
- Popular, Inc. (Nasdaq: BPOP), about $79.0 billion in total assets as of June 30, 2026; Jorge J. Garcia became CEO on September 1, 20266
- Savings APY
- 3.90% APY on Popular Direct Exclusive Savings, $100 minimum deposit, effective October 5, 2026 and variable1
- CD APYs
- 4.35% (6 months), 4.50% (12 months), 4.65% (18 months), 4.85% (36 months), 5.00% (60 months), effective October 5, 20262
- CD minimum
- $10,000 to open and keep, on every term1
- Early withdrawal penalty
- 89 days of simple interest on terms under 91 days, up to 730 days on terms of 60 months or more2
- Fees
- No monthly fee listed; $25 if you close an account within 180 days, $10 overdraft (up to 3 a day), $30 stop payment3
- FDIC coverage
- Balances at Popular Direct and Popular Bank are combined for the $250,000 per depositor, per ownership category limit4
Pros
- CD rates up to 5.00% APY as of October 5, 2026
- FDIC insured through Popular Bank
- Savings opens with $100 and has no monthly fee listed
- Wide range of CD terms from 6 months to 5 years
- Backed by Popular, Inc., a bank holding company with about $79 billion in assets
Cons
- $10,000 minimum on every CD
- Penalties up to 730 days of interest on 5-year CDs
- No checking, debit card or ATM access
- $25 fee if you close an account within 180 days
- Popular Direct app rated 1.3 out of 5 on the App Store
Best for: Savers with $10,000 or more who want to lock a fixed CD rate, or a simple savings account, at an FDIC-insured bank.
Skip it if: You may need the money before the CD matures, have less than $10,000 for a CD, or want checking and ATM access in the same place.
Popular Direct vs. competitors
| Company | Savings APY (Oct 2026) | Savings minimum | CD minimum | Monthly fee | Next step |
|---|---|---|---|---|---|
| Popular Direct | 3.90% | $100 | $10,000 | $0 | |
| Bread Savings | 4.05% | $100 | $1,500 | $0 | Read review |
| EverBank | 4.20% for new accounts | $0 | $1,000 | $0 | Read review |
| Marcus by Goldman Sachs | About 3.40% to 3.50% | $0 | $500 | $0 | Read review |
High-yield savings accounts we reviewed
-
Popular Direct This review BestGuide rating: 4.3 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: Savers with $10,000 or more who want to lock a fixed CD rate, or a simple savings account, at an FDIC-insured bank. -
CIT Bank Platinum Savings BestGuide rating: 4.6 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: Savers who will keep at least $5,000 in the account at all times and want a no-fee online account backed by a large bank. -
Openbank High Yield Savings BestGuide rating: 4.5 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: Savers who want a high, fee free rate on cash they move in and out by transfer, and who are comfortable banking only through an app. -
Bread Savings BestGuide rating: 4.1 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: Savers who already bank elsewhere and want a higher rate on emergency savings or a CD ladder with no monthly fees. -
EverBank BestGuide rating: 4.7 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: Savers who want a high rate on every dollar with no fees and like keeping savings, CDs and checking at one FDIC-insured bank. -
Marcus by Goldman Sachs BestGuide rating: 4.3 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: Savers who want a simple, fee-free place for an emergency fund or CD ladder at a large FDIC-insured bank.
Popular Direct pricing at a glance
Popular Direct rates and fees, effective October 5, 20262
| Account | APY | Minimum to open | Early withdrawal penalty |
|---|---|---|---|
| Exclusive Savings | 3.90% (variable) | $100 | None; $25 if closed within 180 days |
| 6-month CD | 4.35% | $10,000 | 120 days of simple interest |
| 12-month CD | 4.50% | $10,000 | 270 days of simple interest |
| 18-month CD | 4.65% | $10,000 | 270 days of simple interest |
| 36-month CD | 4.85% | $10,000 | 365 days of simple interest |
| 60-month CD | 5.00% | $10,000 | 730 days of simple interest |
Rates change without notice and apply on the date the account is opened and funded. Other CD terms are shown in Popular Direct's rate tool. Overdraft fee $10, stop payment $30.
Popular Direct, step by step
Apply online
Choose Exclusive Savings or a CD term and complete the online application; rates lock on the day the account is opened and funded.
Fund from a linked bank
Deposit at least $100 for savings or $10,000 for a CD from an outside account you link.
Manage online or in the app
View balances and move money between Popular Direct and your linked accounts; there is no debit card or ATM access.
Watch CD maturity
CDs renew automatically for the same term at the then-current rate after a 10-day grace period unless you set other instructions.
Close or withdraw
Accounts closed within 180 days cost $25, and breaking a CD early costs 89 to 730 days of interest depending on the term.
Popular Direct legitimacy and licensing
Yes. Popular Direct accounts are opened through Popular Bank, a New York bank with FDIC certificate 34967 and about $15.0 billion in assets as of June 30, 2026. Popular Bank belongs to Popular, Inc. (Nasdaq: BPOP), the San Juan, Puerto Rico bank holding company that reported about $79.0 billion in total assets for the same date.
Leadership changed this year: Javier D. Ferrer retired as Popular’s CEO on August 31, 2026, and chief financial officer Jorge J. Garcia took over on September 1. The BBB rates Popular Bank A-, and it is not accredited.
Popular Direct CD and savings rates
As of October 5, 2026, Popular Direct lists Exclusive Savings at 3.90% APY (annual percentage yield). The yearly return on a deposit including compounding, the standard number for comparing savings accounts. Compare high-yield savings accounts with a $100 minimum, and CDs at 4.35% for 6 months, 4.50% for 12 months, 4.65% for 18 months, 4.85% for 36 months and 5.00% for 60 months. Every CD needs a $10,000 opening deposit and balance.
The savings rate is variable and Popular Bank says it can change or end the offer at any time. CD rates are fixed for the term, and you get the rate in effect on the day the account is opened and funded, not the day you apply.
Popular Direct fees and early withdrawal penalties
Popular Direct’s fee schedule lists no monthly maintenance fee. It does charge $25 if you close an account within 180 days, a $10 overdraft fee (up to three a day), $30 for a stop payment and $35 for collections. The bigger cost is breaking a CD early:
- Under 91 days: 89 days of simple interest
- 91 days to under 12 months: 120 days
- 12 to under 36 months: 270 days
- 36 to under 60 months: 365 days
- 60 months or more: 730 days
On a 5-year CD, two years of interest is a steep penalty, so only lock in money you will not need.
What customers say about Popular Direct
Recurring themes across the review sites and complaint records listed above, not individual quotes.
Common praise
- CD and savings rates above most traditional banks
- FDIC insurance through an established bank
- No monthly maintenance fee
Common complaints
- Slow account approval and identity checks
- Trouble linking or verifying external accounts
- A mobile app with frequent login and transfer problems
- Large early withdrawal penalties on long CDs
FDIC insurance and combined balances
Popular Direct is not a separate bank. Its deposits are held at Popular Bank, and balances at Popular Direct and Popular Bank are added together for FDIC coverage. The limit is $250,000 per depositor, per ownership category, so if you also bank at a Popular Bank branch in New York, New Jersey or Florida, count both before you deposit large sums. You can check any bank’s coverage with the FDIC’s BankFind tool.
Popular Direct complaints and how to avoid problems
Popular Bank’s BBB profile lists 23 complaints in three years, and the CFPB database shows 505 complaints in the same period under Banco Popular de Puerto Rico, most from Puerto Rico. Customer reviews of Popular Direct center on slow approval, trouble linking outside accounts and an app rated 1.3 out of 5 on Apple’s App Store.
To avoid surprises, have your ID and linked account details ready, fund the account promptly so you get the rate you expect, and set CD maturity instructions early so a CD does not renew at a lower rate. If a problem is not fixed, file a complaint with the CFPB.
What happens when a Popular Direct CD matures
After a CD matures you have a 10-day grace period. If you do nothing, it renews for the same term at the rate set on the maturity date. Popular Direct mails maturity and renewal notices, but you can set instructions before then by phone or secure message, such as moving the money to a new term or to your linked account.
Who should skip Popular Direct
Look elsewhere if you have less than $10,000 for a CD, may need the money early, or want checking, a debit card or ATM access with your savings. Savers focused only on the best savings rate can find higher variable rates at some online banks, and Treasury bills are an option if you want state tax-free interest.
Alternatives to Popular Direct
-
Bread Savings
A higher savings rate in October 2026 and CDs from $1,500 instead of $10,000.
-
EverBank
No minimum to open savings, CDs from $1,000, and checking if you want everything at one bank.
-
Marcus by Goldman Sachs
CDs from $500, no-penalty CDs and smaller early withdrawal penalties than Popular Direct's longer terms.
-
Treasury bills at TreasuryDirect
Buy directly from the U.S. Treasury from $100; interest is subject to federal tax but not state or local income tax.
Popular Direct reviews
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Frequently asked questions
Is Popular Direct FDIC insured?
Yes. Deposits are held at Popular Bank, FDIC certificate 34967. Popular Direct and Popular Bank balances are combined toward the $250,000 per depositor, per ownership category limit.
What is the Popular Direct savings rate?
3.90% APY on Exclusive Savings as of October 5, 2026, with a $100 minimum deposit. The rate is variable and can change at any time.
What are Popular Direct CD rates?
As of October 5, 2026: 4.35% for 6 months, 4.50% for 12 months, 4.65% for 18 months, 4.85% for 36 months and 5.00% for 60 months. Each CD needs $10,000.
What is the minimum deposit for a Popular Direct CD?
$10,000 on every term, and that balance must be kept in the CD.
What is the Popular Direct early withdrawal penalty?
From 89 days of simple interest on terms under 91 days up to 730 days on terms of 60 months or more. One-year CDs cost 270 days of interest.
Who owns Popular Direct?
Popular Bank, a subsidiary of Popular, Inc. (Nasdaq: BPOP), based in San Juan, Puerto Rico. Jorge J. Garcia has been Popular's CEO since September 1, 2026.
Does Popular Direct have a checking account or debit card?
No. Popular Direct offers savings and CDs only, so you move money through a linked outside bank account.
Are there fees at Popular Direct?
No monthly fee is listed. Closing an account within 180 days costs $25, overdrafts cost $10 (up to three a day) and stop payments cost $30.
What happens when my Popular Direct CD matures?
You get a 10-day grace period, after which the CD renews for the same term at the rate in effect on the maturity date unless you set other instructions.
Is Popular Direct the same as Popular Bank?
Popular Direct is Popular Bank's online deposit brand. Accounts are opened through Popular Bank, which also runs branches in New York, New Jersey and Florida.
Sources (12)
Facts on this page come from company websites, government agencies and regulators, checked on the dates shown. Editorial standards
- Popular Direct: Home page rates and disclosures (effective October 5, 2026) (accessed October 12, 2026)
- Popular Direct: Certificates of deposit, rates and penalties (accessed October 12, 2026)
- Popular Direct: Schedule of fees (revised October 10, 2024) (accessed October 12, 2026)
- Popular Direct: Savings account and disclosures (accessed October 12, 2026)
- FDIC BankFind: Popular Bank, certificate 34967 (accessed October 12, 2026)
- SEC: Popular, Inc. Form 8-K exhibit 99.1, second quarter 2026 results (July 23, 2026) (accessed October 12, 2026)
- BBB: Popular business profile (accessed October 12, 2026)
- CFPB: Consumer complaint database, Banco Popular de Puerto Rico (accessed October 12, 2026)
- Apple App Store: Popular Direct (accessed October 12, 2026)
- Bread Financial: Bread Savings certificates of deposit (accessed October 12, 2026)
- EverBank: Today's rates (accessed October 12, 2026)
- TreasuryDirect: Treasury bills (accessed October 12, 2026)
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