Best 2-year CD rate in the country now offered by Popular Direct


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An online bank isn’t waiting to reward savers after the June Federal Reserve rate hike.

Popular Direct just raised its 2-year CD rate by 10 basis points to 1.8 percent APY. That’s the best 24-month CD deal for consumers nationwide. (A basis point is one-hundredth of a percentage point.)

Best 24-month CD rates
Institution APY Minimum deposit
Popular Direct 1.80% $10,000
NewDominion Bank 1.75% $1,000
First Internet Bank of Indiana 1.71% $1,000
Live Oak Bank 1.70% $2,500
Connexus Credit Union 1.70% $5,000
EverBank 1.70% $5,000

Popular Direct, a division of Banco Popular North America, offers a high-yield savings account and federally insured deposits. It also has one of the most competitive 5-year CD rates: 2.35 percent APY.

Who should buy this 2-year CD

To qualify for Popular Direct’s 2-year CD deal, you’ll have to set aside at least $10,000. If that ceiling seems too high, compare other top CD deals with lower minimum deposit requirements.

Another factor to consider is Popular Direct’s early withdrawal penalty. If you’re planning to purchase a 2-year CD, you’re better off leaving it alone until it matures. Otherwise, be prepared to pay a fee of 270 days of simple interest.

The CD offer may be worth considering if you’re trying to earn a high yield. Interest compounds daily rather than quarterly or monthly.

Calculate how much interest you could earn when your CD matures. Popular Direct CDs automatically renew 10 days after the maturity date.

How to buy Popular Direct CDs

Opening a Popular Direct account takes about five to 10 minutes. Applications are only available online. To apply you must:

  • Be a U.S. citizen or resident
  • Be at least 18 years old
  • Have a valid ID (such as a driver’s license or U.S. passport)
  • Have a Social Security number

In addition to providing some personal information (such as your birth date and employment status), you’re required to fund your CD during the application process. You can do so by transferring money from an external savings or checking account.

About Popular Direct

Popular Direct is headquartered in Miami Lakes, Florida. Along with BPNA, it’s a subsidiary of Popular, Inc., the largest bank in Puerto Rico in terms of assets and deposits.

All of Popular Direct’s deposit accounts are opened through BPNA. It earned five out of five stars on Bankrate’s latest Safe & Sound Ratings system, which measures the financial health of banks and credit unions throughout the United States.