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 Savings rating = 4.1/5
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.
Overall
Popular Direct is an online bank that pays highly competitive rates on its 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 to 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.
Bankrate insight
Popular Direct is a good option for savers because you can count on it to offer competitive rates on its savings products (even if those rates may not be the absolute highest, they’ll still be consistently good).
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 Exclusive 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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Accounts closed within 180 days are subject to a $25 fee.
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You cannot change your linked external account during the first 60 calendar days after you link it to your Popular Direct account.
Popular Direct's savings account earns a competitive yield and has a relatively low minimum opening deposit of $100, though some other online-only banks don't require a minimum at all. One drawback of this account is that you won't be able to deposit or withdraw cash — there is no ATM access.
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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No bump-up or penalty-free CDs are available.
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High early withdrawal penalties.
Popular Direct offers eight terms of CDs ranging from three months to five years, all of which earn high rates. If you need access to your funds early, however, expect to pay a relatively steep penalty. For instance, the penalty to exit a one-year CD early is 270 days of simple interest, and the penalty for a five-year CD is 730 days of interest. Many banks charge lower early withdrawal penalties than these.
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 Nov. 27, 2025 and Dec. 3, 2025.
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Selected bank
Popular Direct savings account
Bankrate score
4.4
Bankrate Savings rating = 4.4/5 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. |
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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 Nov. 27, 2025 and Dec. 3, 2025.
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| 4.00% | 4.20% | |
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Minimum balance for APY
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| $0.00 | $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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| $2,000 | $2,100 | |
| Popular Direct’s high-yield savings account earns a competitive rate, 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-notch yield but only when you make deposits totaling at least $250 per statement cycle. If you don't meet the $250 requirement in a given month, your yield will be lower (though still fairly competitive). The account has no monthly service fees and no minimum balance required to earn interest. | |
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N/A
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N/A
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APY offering:
4.00%
4/5
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:
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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Bankrate does not currently track additional product details for this bank.
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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 | Not applicable |
| 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. Customers can also send a secure message online by filling out a form.
Mobile app. Overall, Popular Direct’s mobile app receives very low user ratings, especially as compared to many other online banks’ apps. The app allows for basic account management, including viewing your balance and depositing funds remotely.
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.
The Popular Direct savings account also does not come with an ATM card, which is typical of savings accounts. Customers who want to deposit or withdraw money will need to rely on methods like external transfers and mobile deposit capture.
Website is transparent. Popular Direct makes it easy to find all of the key information on its website, such as rates, fees, contact information and answers to frequently asked questions. Links to account details and disclosures are provided on the bank’s home page, as well as its savings account and CD pages.
About Popular Direct
Popular Direct is an online bank that was launched in July 2016. It offers CDs and a savings account that are opened through federally insured regional bank Popular Bank.
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.
