Charles Schwab Bank vs. Popular Direct
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Charles Schwab BankSchwab Bank Investor Savings™ Jan 7, 2026 | Popular DirectPopular Direct Select Savings Jan 7, 2026 |
|---|---|---|
| APY | 0.15% | 3.90% |
Est. Earnings | $5,000+$8 $10,000+$15 $25,000+$38 | $5,000+$195 $10,000+$390 $25,000+$975 |
Min Deposit | $0 | $100 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppIn-Person AccessZelle® Supported | FDIC InsuredLow Minimums |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
Comparison Analysis
Comparing Charles Schwab Bank vs. Popular Direct
As of Charles Schwab Bank offers an APY of 0.15% for its Schwab Bank Investor Savings™ account, with a minimum balance of $0.01, compared to Popular Direct's 3.90% APY for its Popular Direct Select Savings account, with a minimum balance of $0.01.
Popular Direct pays $375 more than Charles Schwab Bank on a $10,000 balance after one year. Charles Schwab Bank pays $15, while Popular Direct pays $390 - an APY advantage for Popular Direct.
Why Charles Schwab Bank?
- ✓Higher rated iOS app (4.8 vs 1.3)
- ✓Fast transfers via Zelle®
Why Popular Direct?
- ✓Higher potential APY (3.90% vs 0.15%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
Popular DirectPopular Direct's Popular Direct Select Savings earns more on smaller deposits (approx. $390 vs $15/yr).
Better Returns at $25,000
Popular DirectPopular Direct's Popular Direct Select Savings pulls ahead with larger amounts (approx. $975 vs $38/yr).
Best for Simplicity
Popular DirectPopular Direct's Popular Direct Select Savings offers 3.90% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Popular Direct's Popular Direct Select Savings pays $375 more interest on a $10,000 balance than Charles Schwab Bank's Schwab Bank Investor Savings™.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Popular Direct offers a significant advantage with its Select Savings account, boasting an APY of 3.90%. This online-only product requires a minimum deposit of $100 and has no maintenance fees, making it accessible and straightforward. In contrast, Charles Schwab Bank's Schwab Bank Investor Savings™ yields a much lower APY of 0.15%, with no minimum deposit or maintenance fees. While both accounts have no direct deposit requirements, the stark difference in APY highlights Popular Direct as the superior choice for savers seeking higher returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Top Market Contenders
Charles Schwab Bank vs. Popular Direct Savings Calculator
You earn $375 more with Popular Direct than Charles Schwab Bank on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$15.00(0.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,015.00
Popular Direct
Popular Direct Select Savings
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Charles Schwab Bank | Popular Direct |
|---|---|---|
| APY | 0.15% Verified: 1/7/2026 Stable (90d) | 3.90% Verified: 1/7/2026 ↘︎ 0.15%90d Change |
| Product Name | Schwab Bank Investor Savings™ | Popular Direct Select Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0.01 | $0.01 |
| Monthly Fee | $0 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android2.8 | iOS1.3 Android1.3 |
| Zelle® Support | Available Integrated into Investor Checking; high liquidity. | Not Supported |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at Charles Schwab Bank Non-sponsored link to official site | Visit SiteVerify at Popular Direct Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Charles Schwab Bank | Popular Direct |
|---|---|---|
| Schwab Bank Investor Savings™ | Popular Direct Select Savings | |
Current APY | 0.15% | 3.90% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -2.3 |
Days Since Change | 342 | 23 |
11-Month High | 0.15% | 4.50% |
11-Month Low | 0.15% | 3.90% |
Adjustments / Mo | 0.00 | 0.79 |
Volatility Score | 0.000 | 0.027 |
How to read these metrics(Click to expand)
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