Popular Direct: Savings Account & Rates
Mission: Banksparency aims to make Popular Direct's savings account transparent and comparable to the market.
Analysis of Popular Direct
Our verdict
Popular Direct offers Popular Direct Select Savings, a high-yield savings account paying 3.90% APY with a $100 minimum deposit.
At 3.90% APY, Popular Direct pays 10x the national average (0.39%). Ranks in the top tier of 99+ accounts tracked.
Ideal User Profile
- Best for: simple saving without extra requirements, banking without needing a branch, and having a branch nearby when you need one.
Important Considerations
Key Differentiators
- Stands out with A+ BBB rating, in-person banking available.
Savings Overview
Popular Direct Select Savings
| Min. Deposit | $100 |
| Min. Balance | $0.01 |
| Maintenance Fee | $0 |
Market Reality Check
This bank offers rates below the current top tier. The best rates we track are currently above 4.15% APY.
Bank Overview
- HQ LocationNew York, New York
- Founded2016
- AffiliationProducts are offered by Popular Bank, the U.S. banking subsidiary of Popular, Inc. (NASDAQ: BPOP)
- Ratings & Trust
- Zelle® SupportNo SupportStandard ACH or Wire transfers only.
- Deposit InsuranceFDIC Insured(Cert: 34967)
Top Market Contenders
Savings Account: In-Depth View
Savings Account Offered by Popular Direct
| Feature | Popular Direct Select Savings |
|---|---|
APY | 3.90%Verified: 3/7/2026 |
APY Trend | Rate Adjusted -0.10% Since 90 days ago |
Min. Deposit | $100 |
Min. Balance | $0.01 |
Monthly Fee | $0 |
Direct Deposit | None |
Checking Bundle | No |
Branch Access | None |
Compounding | Daily |
FDIC Insured | Yes |
Eligibility | United States |
| Next Steps | - |
Calculate Savings for Popular Direct
Savings Breakdown
- Interest Earned+$1,526.90(9.8%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,526.90
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Popular Direct Savings Rates Over Time
Historical APY Insights
Last 12 Months| Metric | Popular Direct Select Savings |
|---|---|
Latest APY | 3.90% |
Trend | Sideways |
Slope (bps/mo) | -1.8 |
Rate Changes / Mo | 0.49 |
Days Since Last Change | 82 |
High (-12m) | 4.20% |
Low (-12m) | 3.90% |
Draw-down | -7.1% |
Volatility (CV) | 0.019 |
How to read these metrics▼
Trends & Velocity
- Trend
- The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
- Slope (bps/mo)
- Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
- Rate Changes / Mo
- "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.
Risk & Range
- High/Low
- The absolute ceiling and floor of the rate during the 365-day window.
- Volatility Score
- Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
- Days Since Change
- If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.
Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.
Compare with Popular Direct
| Feature | Current View Popular Direct | Empty Slot |
|---|---|---|
| Product | Popular Direct Select Savings | - |
APY | 3.90%Verified: 3/7/2026 | - |
APY Trend | Rate Adjusted -0.10% Since 90 days ago | - |
| Min. Deposit | $100 | - |
| Monthly Fee | $0 | - |
Direct Deposit | No | - |
Checking Bundle | No | - |
| Branch Access | None | - |
| Eligibility | United States | - |
Compounding | Daily | - |
FDIC Insured | Yes | - |
| Next Steps | - | - |
Bank-to-Bank Comparisons
Compare Popular Direct's APY of 3.90% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Popular Direct vs Ally Bank | 3.20% | $0 |
| Popular Direct vs American Express | 3.30% | $0 |
| Popular Direct vs Axos Bank | 4.21% | $0 |
| Popular Direct vs Bank of America | 0.01% | $100 |
| Popular Direct vs Barclays | 3.85% | $0 |
| Popular Direct vs Capital One | 3.30% | $0 |
| Popular Direct vs Chase Bank | 0.01% | $0 |
| Popular Direct vs Chime | 3.00% | $0 |
| Popular Direct vs CIT Bank | 3.75% | $100 |
| Popular Direct vs Citibank | 3.20% | $0 |
| Popular Direct vs Discover Bank | 3.30% | $0 |
| Popular Direct vs EverBank | 3.90% | $0 |
| Popular Direct vs Marcus by Goldman Sachs | 3.65% | $0 |
| Popular Direct vs Newtek Bank | 4.20% | $0.01 |
| Popular Direct vs Openbank | 4.09% | $500 |
| Popular Direct vs Pibank | 4.60% | $0 |
| Popular Direct vs SoFi Bank | 4.00% | $0 |
| Popular Direct vs Synchrony Bank | 3.50% | $0 |
| Popular Direct vs Varo Bank | 5.00% | $0 |
| Popular Direct vs Wealthfront | 4.20% | $0 |
| Popular Direct vs Wells Fargo | 0.05% | $25 |
Alternatives to Popular Direct
Banks with Higher/Similar Savings APY
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Primis Bank
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Carver Bank
High Yield Savings: 4.00% APY
Minimum Deposit: $5,000
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