Updated
Fact Checked
Nathan Alderman
Popular Direct isn't kidding around when it comes to certificates of deposit (CDs). If you want to watch your money grow, Popular Direct CDs may be precisely what you're looking for. Due to the minimum deposit required, it's not the right fit for everyone. However, if you can make a fairly substantial deposit, you're likely to be pleased with the return Popular Direct CDs currently offer.
In this expert review, we'll tell you more about this money-making opportunity, compare it with APYs provided by other banks, and help you decide if a Popular Direct CD is right for you.
Popular Direct CD rates for 2024
Rates as of April 25, 2024
APY = Annual Percentage Yield
Term
Popular Direct CD
3 Mo.
6 Mo.
1 Yr.
1.5 Yr.
2 Yr.
3 Yr.
4 Yr.
5 Yr.
5.00%
5.15%
5.37%
5.06%
4.80%
4.55%
4.45%
4.45%
Compare Popular Direct CD rates
There are many reasons a person may want to invest in a CD and plenty of financial institutions available to help. Before deciding which CD is best for you, though, it helps to compare what's available.
Rates as of April 25, 2024
| Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
|---|---|---|---|---|
Member FDIC.
| APY: 5.10% | Term: 10 Months | Min. Deposit: $0 | |
Member FDIC.
| APY: 4.70% | Term: 1 Year | Min. Deposit: $2,500 | |
| APY: 5.05% | Term: 1 Year | Min. Deposit: $1 | |
|
| APY: 5.15% | Term: 9 Months | Min. Deposit: $1 | |
Member FDIC.
| APY: 4.75% | Term: 1 Year | Min. Deposit: $500 |
Popular Direct CD review
Popular Direct CD fully compete with the best CDs on the market. Whether someone is looking for a place to stash their emergency savings account or saving for a special occasion, Popular Direct CD rates can help plump their savings. However, like every other financial product, Popular Direct CD has both pros and cons.
Popular Direct CD
PROS
- Competitive rates
- Access 24/7 from desk or mobile app
- No monthly maintenance fees
- Multiple term lengths available
- FDIC insured
CONS
- High minimum deposit
The Popular Direct CD has a lot going for it, including competitive rates, no monthly maintenance fees, a range of terms from three months to five years, and FDIC protection. However, with an entry point of $10,000, it won't be the right fit for everyone. If you're just starting out and don't have a bundle to spare, consider a bank offering no-minimum CDs.
Who is a Popular Direct CD right for?
A Popular Direct CD is just right for those with at least $10,000 to deposit into a CD. It's also a good option for those who want to bank on the go and access to 24/7 customer service.
Rates as of April 25, 2024
APY = Annual Percentage Yield
Popular Direct CD
MINIMUM DEPOSIT $10,000
| 3 Mo. APY | 6 Mo. APY | 1 Yr. APY | 1.5 Yr. APY | 2 Yr. APY | 3 Yr. APY | 4 Yr. APY | 5 Yr. APY |
|---|---|---|---|---|---|---|---|
| 5.00% | 5.15% | 5.37% | 5.06% | 4.80% | 4.55% | 4.45% | 4.45% |
Keep reading about Popular Direct
Our CDs methodology
At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.
See our full Ratings Methodology here.
FAQs
-
From a term as brief as three months to as long as five years, Popular Direct CDs offer highly competitive rates.
-
A Popular Direct CD is well worth opening as long as you have $10,000 available to watch grow.
Our Banking Experts
Dana George has a BA in Management and Organization Development from Spring Arbor University. For more than 25 years, she has written and reported on business and finance, and she's still passionate about her work. Dana and her husband recently moved to Champaign, Illinois, home of the Fighting Illini. And though she finds the color orange unflattering on most people, she thinks they'll enjoy Champaign tremendously.
Fact Checked
Nathan Alderman
Nathan Alderman has worked with The Motley Fool since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As The Ascent's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.
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