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Popular Direct Reviews


bestfor-icon High-yield savings and CD rates

Written by Matthew Levy

About Popular Direct | Read More


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Mon - Fri 7:30am-12:00am EST
Sat- Sun 9:00am-6:00pm EST
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  • 1-800-274-5696
  • PO Box 4884, Miami Lakes, Florida, 33014, United States
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Popular Direct Certificate of Deposit Review

Popular Direct is best for anyone looking for an online savings account and CDs that pay top-notch yields. Popular Direct offers a variety of CDs with terms ranging from three months to five years. The minimum deposit to open a CD is $10,000. The highest APY for a CD is 5.67% for a 12-month CD.

Popular Direct Certificate of Deposit Highlight


1-Year APY


36-Month APY


60-Month APY


Minimum Deposit


Minimum Balance


Monthly fee


Daily Compounded Interest


Early withdrawal penalty

Pros & Cons

  • con-icon Accounts with highly competitive rates
  • con-icon No monthly fees
  • con-icon Extended phone customer service hours
  • con-icon High minimum deposit requirements
  • con-icon Excess withdrawal fees
  • con-icon The mobile app has limited capabilities and low customer ratings

Account types

  • 3-Month APY 5.30%
  • 6-Month APY 5.30%
  • 1-Year APY 5.15%
  • 18-Month APY 4.90%
  • 24-Month APY 4.70%
  • 36-Month APY 4.55%
  • 48-Month APY 4.45%
  • 60-Month APY 4.45%

Popular Direct Certificate of Deposit Terms & Requirements

Popular Direct offers a variety of certificate of deposit (CD) types, with

  • Minimum Deposit: The minimum deposit on a Popular Direct CD is $10,000.
  • Term lengths: Popular direct terms range from three months to five years.
  • Interest rates: The highest APY for a CD is 5.35% for a 6 or 12 month CD.
  • Early withdrawal penalty: Early withdrawal penalties vary depending on the length of the CD term.
  • FDIC insurance: CD accounts are FDIC-insured up to $250,000.
  • Other fees: There are no monthly maintenance fees or ATM fees.

Qualification Requirements

To qualify for a Popular Direct Certificate of Deposit (CD), you must:

  • Be at least 18 years old.
  • Be a U.S. citizen or permanent resident.
  • Have a valid Social Security number or tax ID number.
  • Provide a valid email address and phone number.
  • Meet the minimum deposit requirement of $10,000.

Withdrawal Penalty

For terms less than 91 days, the fee is 89 days simple interest. For terms equal to or greater than 91 days but less than 12 months, the fee is 120 days simple interest. For terms equal to or greater than 12 months but less than 36 months, the fee is 270 days simple interest. For terms equal to or greater than 36 months but less than 60 months, the fee is 365 days simple interest. For terms equal to or greater than 60 months, the fee is 730 days simple interest.

Deposit Term  Amount of Interest 
Less than 91 days  89 days of simple interest 
91 days – 12 months  120 days of simple interest
12 months – 36 months  270 days of simple interest 
36 months – 60 months  365 days of simple interest 
60+ months  730 days of simple interest 

State Availability

- Available in all states

Written by Matthew Levy

Matthew is a freelance financial copywriter with 14+ years in financial services. He holds a Bachelor of Science degree in Economics with business and finance options and is a CFA Charterholder. He is from Vancouver, Canada, but writes from all over the world.



What types of accounts does Popular Direct offer?

Popular Direct primarily offers high-yield savings accounts and CDs.

Is my money safe with Popular Direct?

Yes, funds in Popular Direct accounts are FDIC-insured up to the applicable limits.

Can I access my account on the go?

Yes, Popular Direct offers an online banking platform and mobile app, ensuring you can manage your finances anytime, anywhere.

Customer Support

Navigating through Popular Direct’s customer support was initially met with a well-designed automated system. Within a few minutes of selecting options, we spoke with a real human representative who was knowledgeable about the platform’s products. The system has minimal waiting and offers a callback option if necessary, with a commitment to return calls within a day. Online reviews echo the same experience overall.

Privacy & Security

Popular Direct strongly emphasizes on security and privacy when it comes to its customers. Their online banking systems have advanced encryption techniques to safeguard personal and financial data. The bank also has a solid reputation within the industry and is a subsidiary of a much larger company. While they pledge to keep personal information confidential, you can find specifics can be found in their detailed privacy policy and disclaimer on their website. They are also subject to strict regulatory oversight, ensuring they adhere to best practices.

In Conclusion

Popular Direct is a reputable and reliable digital banking platform with a rich history through its association with its parent company. They offer competitive rates, especially in the savings account segment, they cater to customers seeking higher interest rates for their savings. While the platform’s online services are commendable, users who need a brick-and-mortar presence may be disappointed. Overall, Popular Direct has a combination of innovation and trustworthiness in the digital banking space.

Brand Disclaimer

The Annual Percentage Yield (APY) for a Popular Direct Certificate of Deposit (CD) account is effective as of Monday, August 21, 2023 and subject to change without notice. There is a $10,000 minimum opening account deposit and balance requirement. APY assumes principal and interest remain on deposit until maturity. A penalty will be imposed for early withdrawal. Fees may reduce earnings on the account.
The Annual Percentage Yield (APY) applies only for the “Popular Direct Select Savings” product, is effective as of Monday, August 21, 2023, may be canceled or withdrawn at any time, and is subject to change without notice. Popular Bank, in its sole discretion, reserves the right to change or terminate this offer at any time. There is a $100 minimum deposit to open an account. Fees may reduce earnings.
All loans are subject to credit review and approval. Rates, program terms and conditions vary by state and are subject to change without notice.
Popular Bank NMLS ID # 417584
Important information about procedures for opening a new account: To help the government fight the funding of terrorism and money laundering activities, U.S. Federal law requires financial institutions to obtain, verify, and record information that identifies each person (individual or business) who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask for your driver’s license or other identifying information.
All Popular Direct deposit products are offered by, and will be opened through, Popular Bank. Popular Bank is a Member FDIC institution and a New York state chartered bank. Processing services for all Popular Direct deposit products are provided by Popular Bank. All deposits with Popular Bank (including deposits through Popular Direct deposit products) are insured by the FDIC up to the applicable maximum amount allowed by law for each deposit ownership category. All balances for Popular Direct and Popular Bank deposits would be combined for purposes of determining FDIC coverage eligibility. For more information about FDIC Insurance coverage of deposit accounts, visit https://www.fdic.gov/deposit/deposits.