Popular Direct

Last Updated: 7/18/2025

Note: Interest rates below are reported as APY, or Annual Percentage Yield

Quick Views

Popular Direct Select Savings: 4.05% APY(Rank 39 out of 77 tracked HYSAs)

Minimum Deposit: $100 | Online Only

National Savings Interest Rate: 0.38% (as of 6/16/2025)

Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.

(Source: FDIC)

Bank Overview

Location: New York, New York

Founded: 2016

Affiliation: Products are offered by Popular Bank, the U.S. banking subsidiary of Popular, Inc. (NASDAQ: BPOP)

Access to Branches: None. You cannot make use of Popular Bank's branches.

BBB Rating: A+

App Store Rating: 1.3/5

Google Play Rating: 1.3/5

Website: Visit Popular Direct

Our Take on Popular Direct

Highlights

Current APY is 4.05%, unchanged from 30 days ago.
No maintenance fees for the Popular Direct Select Savings account.
A+ BBB rating indicates strong trustworthiness.
Minimum deposit requirement is only $100.

Considerations

No branches available for in-person banking.
App Store rating is low at 1.3.
Google Play rating is also low at 1.3.
Direct deposit is not required but may limit some users.

Summary: Popular Direct offers a competitive APY of 4.05% for its Select Savings account, with no maintenance fees and a low minimum deposit of $100. However, the lack of physical branches may be inconvenient for some customers. Additionally, the bank has low ratings on both the App Store and Google Play, which could indicate issues with customer satisfaction. Overall, it provides a strong savings option for those comfortable with online banking.

Savings Account

Savings Account Offered by Popular Direct

Feature	Popular Direct Select Savings
APY	4.05% (as of 7/18/2025)
APY Trend	Stable for the last quarter
Minimum Deposit	$100
Minimum Balance for APY	$0.01
FDIC-insured	Yes
Online Only	Yes
Bundled Account	No
Direct Deposit Required	No
Compound Frequency	Daily
Maintenance Fee	$0
Eligibility	United States
No deposit agreement summary available for this bank.

Calculate Savings for Popular Direct

All calculations are based on APY.

Savings Product:

Popular Direct Select Savings (APY: 4.05%)

Initial Deposit:

Recurring Deposit Amount:

Deposit Frequency:

Duration:

Total savings breakdown:

Interest earned: $40.5 (3.89%)
Total contributions: $0 (0.00%)
Initial deposit: $1,000 (96.11%)

Your total balance

$1,040.50

Effective APY: 4.05% (based on your deposit and contributions)

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

Metric	Popular Direct Select Savings
Latest APY	4.05 %
Trend	Falling
Slope (bps/mo)	-8.7
Rate Changes / Mo	0.84
Days Since Last Change	111
High (-7 m)	4.60 %
Low (-7 m)	4.05 %
Draw-down from High	-12.0 %
Volatility (CV)	0.047

APY Insights Glossary

Latest APY: Most recent advertised annual-percentage yield.
Trend: Direction over the last 7 months (regression slope).
Slope (bps/mo): Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo: Typical number of APY moves per month.
Days Since Last Change: Recency of the latest APY adjustment.
High (-7 m): Highest APY in the last 215 days.
Low (-7 m): Lowest APY in the last 215 days.
Draw-down from High: How far today sits below the 7-month peak.
Volatility (CV): Coefficient of variation = stdev ÷ mean.

Why Track Savings-Account APYs?

See how quickly a bank reacts to Fed moves or competition.
Gauge “twitchiness” - frequent moves can annoy savers.
Spot if you're buying near a peak (draw-down) or riding a rise.
Slope (bps/mo) shows speed of change.
Volatility (CV) scales jumps by average level.

Compare Popular Direct's Savings Account

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Feature	Popular Direct	Select a bank...
Product	Popular Direct Select Savings	N/A
APY	4.05% (as of 7/18/2025)	N/A
Bundled Account	No	N/A
FDIC-insured	Yes	N/A
Online Only	Yes	N/A
Compound Frequency	Daily	N/A
Minimum Deposit	$100	N/A
Minimum Balance for APY	$0.01	N/A
Maintenance Fee	$0	N/A
Direct Deposit Required	No	N/A