Popular Direct

Last Updated: 6/20/2025

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

Quick 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

FeaturePopular Direct Select Savings
APY
4.05% (as of 6/20/2025)
APY TrendStable for the last month
Minimum Deposit$100
Minimum Balance for APY$0.01
FDIC-insured
Yes
Online OnlyYes
Bundled Account
No
Direct Deposit Required
No
Compound Frequency
Daily
Maintenance Fee$0
EligibilityUnited 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

MetricPopular Direct Select Savings
Latest APY4.05 %
TrendFalling
Slope (bps/mo)-10.9
Rate Changes / Mo0.97
Days Since Last Change83
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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  • Carver Bank - 4.00% APY
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  • Chase Bank - 0.01% APY
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  • Live Oak Bank - 4.10% APY
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  • MySavingsDirect - 3.75% APY
  • Neighbors Bank - 4.60% APY
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  • OMB Bank - 1.00% APY
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  • Presidential Bank - 4.00-4.50% APY
  • Prime Alliance Bank - 4.05% APY
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  • RBMAX - 4.15% APY
  • Rising Bank - 4.30% APY
  • ROGER - 4.65% APY
  • Salem Five Direct - 4.01% APY
  • Sallie Mae Bank - 3.90% APY
  • Santander Bank - 0.03% APY
  • SoFi Bank - 3.80% APY
  • Synchrony Bank - 3.80% APY
  • TAB Bank - 4.26% APY
  • TD Bank - 0.05-3.00% APY
  • The State Exchange Bank - 1.90% APY
  • TIMBR - 4.40% APY
  • UFB Direct - 4.01-4.21% APY
  • Upgrade - 4.02% APY
  • Valley Direct - 4.20% APY
  • Varo Bank - 2.50-5.00% APY
  • Western Alliance Bank - 4.30% APY
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FeaturePopular DirectSelect a bank...
ProductPopular Direct Select SavingsN/A
APY
4.05% (as of 6/20/2025)N/A
Bundled Account
NoN/A
FDIC-insured
YesN/A
Online OnlyYesN/A
Compound Frequency
DailyN/A
Minimum Deposit$100N/A
Minimum Balance for APY$0.01N/A
Maintenance Fee$0N/A
Direct Deposit Required
NoN/A