When opening CD or savings account, what features and benefits do you like the most? Known for their high rates, Popular Direct Bank is the place to to squirrel away your money for a rainy day. Read on if you’re interested in a high APR rate on your Savings and CDs.
Though Popular Direct doesn’t offer any checking accounts, be sure to check out their rates for their other accounts. You’ll enjoy features such as customer service reps 24/7, no fee for overdrafts of $5 or less, make deposits with your mobile phone and more.
Please note that you must have a $5,00 minimum to open a savings account and $10,000 to open a CD.
Savings Account Options
Popular Direct Bank does offer a few selection of savings accounts & certificate of deposit accounts (CDs) with decent perks. Access to these accounts will be through their digital banking with variety of ways to waive the monthly fees.
Their Popular Direct Plus Savings Account offers a high-yield APR with interest compounded daily. With this high-yield APR savings account, there is a $5,000 minimum to open the account. Enjoy interest compounded daily and a monthly service fee that can be waived with a $500 average daily balance. They currently offer one of the highest rates around.
Compare Savings Accounts
 Open a Discover® Online Savings Account for all these features: • Earn $200/$150 Bonus with promo code LOP325 by 9/11/2025 • Earn high interest rate of 3.70% APY • No minimum opening deposit, no minimum balance requirement, and now no fees • Interest on Discover Online Savings Accounts is compounded daily and credited monthly • Manage your account online or with the Discover mobile app • FDIC insurance up to $250,000 • See advertiser website for full details To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code LOP325 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200. What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank. |
CD Account Options
Popular Direct Bank’s CD account requires $10,000 to open with terms ranging from 3 month up to 5 years. It offers one of the highest rates around and the longer term you choose the higher the interest rate.
You will have the option to choose from a 3-month, 6-month, 12-month, 18-month, and 2-year through 5-year term. The longer the term, the higher the interest rate Popular Direct offers.
Interest compounds daily on the Popular Direct CDs. With no tiered interest rates, you’ll earn the same rate regardless of your balance. There is no minimum balance requirement.
You have a 10-day grace period upon maturity to either withdraw the funds or roll them into another CD. If you miss that window, they automatically roll over.
Compare CD Accounts
 • Available nationwide online, Discover® offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months • Rates ranging from 2.00% APY up to 4.00% APY. • Opening a Discover Bank Certificate of Deposit is extremely quick and easy. • Funds on deposit are FDIC-insured up to the maximum allowed by law. • Get started and open a Discover CD in 3 easy steps. |
Alternative Checking Account Options
 • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities • Chase Mobile® app - Manage accounts, pay bills, send money to friends with Zelle® and deposit checks from almost anywhere. • Chase Overdraft AssistSM – no overdraft fees if you’re overdrawn by $50 or less at the end of the business day or if you’re overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day* • Help keep your money protected with features like Zero Liability Protection, fraud monitoring and card lock. • Chase Total Checking includes FDIC insurance up to the maximum amount allowed by law. • With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs. • Open your account online now • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com. *With Chase Overdraft AssistSM, we won’t charge an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts. |
Reasons To Bank with Popular Direct
- Customer service reps are available 24/7. When visiting a physical branch isn’t an option, this is a great feature to have.
- No fee for overdrafts of $5 or less. Overdraft fees tend to add up the more it happens, so it’s nice that you have some room to work with.
- Make deposits with your mobile phone. Download the Popular Direct Bank app to deposit your checks with just a picture of the front and back of your check.
- Sign up for account alerts. Keep track of your balance while on the go and easily keep track of fraudulent activity.
- Daily compounded interest. Although you won’t see much change in a day, you’ll be able to see how much your balance grows over time.
- You earn interest on all balances. Popular Bank Direct doesn’t require a minimum average balance in order to earn interest on your account but you may earn a penalty with a low balance
- Open an account from any state. Popular Bank Direct is online-only, so you can open an account from anywhere in the United States.
- The CD and savings rates are competitive. Because Popular Direct is all online, they can use all the saved overhead to put towards higher interest rates.
- You can get up to five years of e-statements. Opt-in to receive e-statements to be able to see your last 5 years worth of statements in case you need to pull up past transactions.
Reasons Not To Bank with Popular Direct
- High minimum opening balances. You need at least $5,000 to open a savings account and $10,000 to open a CD.
- Other banks have much lower minimum requirements. Some banks have no minimum opening balance requirements at all.
- There are hidden fees. Popular Direct advertises that they don’t charge any monthly fees, but there are plenty of hidden costs.
- In addition to the low balance fee, there is an early account closure fee, an excessive withdrawal fee, and the dormancy fee.
- No ATMs for deposits or withdrawals. This can be frustrating when you have cash to deposit or you want to make a quick withdrawal.
- All transactions occur online only via external transfers (transfers to an existing account at another bank).
Popular Direct Bank Routing Number
The main routing number is 113007835. To find find this routing number, you can simply check the bottom left corner of your checks – check to see if this number differs.
Contact Customer Service
Reach Popular Direct Customer Service at 1-800-274-5696. Reps are available 24/7.
How Popular Direct Compares
- Capital One 360: They offer similar accounts to First IB. Both have fee free online accounts, but Capital One 360 has the upper hand when it comes to ATMs. you can find Allpoint ATMs throughout the United States, making it easy to avoid ATM fees from Capital One and the third-party bank.
- Marcus by Goldman Sachs:If you bank strictly for savings, Marcus by Goldman Sachs offers competitive rates on savings accounts and CDs. Additionally you don’t need a minimum balance and they still offer competitive rates.
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Bottom Line
Choosing a bank that best suits your needs is a important decision. You’ll be investing time and money into these institutions and will need to make the right choice and be sure the bank will offer you what you need.
It’s very important to keep in mind the potential fees that may incur and how to avoid them if possible. If Popular Direct has the variety and options you’re looking for, apply today and enjoy high rates and more.
If you’re interested in banking with Popular Direct, see our list of the latest Popular Direct Account Reviews and Popular Direct CD Accounts! For more options from a variety of banks, see our list of the best bank promotions!
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