Popular Direct
Last Updated: 6/20/2025
Note: Interest rates below are reported as APY, or Annual Percentage YieldQuick Views
Popular Direct Select Savings: 4.05% APY(Rank 40 out of 74 tracked HYSAs)
Minimum Deposit: $100 | Online Only
National Savings Interest Rate: 0.42% (as of 5/19/2025)
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.
- No minimum balance requirement for the account.
Considerations
- App Store and Google Play ratings are both 1.3.
- No physical branches available for customer service.
- Direct deposit is not required, but may limit options.
- Minimum deposit to open account is $100.
Summary: Popular Direct offers a high APY of 4.05% for its Select Savings account, with no maintenance fees or minimum balance requirements. However, the bank has no physical branches, and both its app ratings are low at 1.3. While the A+ BBB rating reflects trustworthiness, potential customers should consider the $100 minimum deposit and lack of direct deposit requirements when evaluating their options.
Savings Account
Savings Account Offered by Popular Direct
| Feature | Popular Direct Select Savings |
|---|---|
| APY | 4.05% (as of 6/20/2025) |
| APY Trend | Stable for the last month |
| 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.
Popular Direct Select Savings (APY: 4.05%)
Deposit Frequency:
Total savings breakdown:
- Interest earned: $4 (3.85%)
- Total contributions: $0 (0.00%)
- Initial deposit: $100 (96.15%)
Your total balance
$104.00
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) | -10.9 |
| Rate Changes / Mo | 0.97 |
| Days Since Last Change | 83 |
| High (-6 m) | 4.60 % |
| Low (-6 m) | 4.05 % |
| Draw-down from High | -12.0 % |
| Volatility (CV) | 0.048 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 6 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 (-6 m)
- Highest APY in the last 186 days.
- Low (-6 m)
- Lowest APY in the last 186 days.
- Draw-down from High
- How far today sits below the 6-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 6/20/2025) | 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 |