Popular Direct CD Review (2026) — Popular Inc.'s Mainland Online Channel
Quick take: Popular Direct is the national online deposit brand of Popular Bank, the US-mainland subsidiary of Puerto Rico-based Popular Inc. (NASDAQ: BPOP) — the largest bank in Puerto Rico (~$73B in total assets). 1-year CD at 4.55% APY is competitive, but the $10,000 minimum is the highest in this entire review set.
Current rates (Popular Direct, as of June 2026)
| Term | APY | Minimum |
|---|---|---|
| 3-month CD | 4.25% APY | $10,000 |
| 6-month CD | 4.40% APY | $10,000 |
| 9-month CD | 4.50% APY | $10,000 |
| 1-year CD | 4.55% APY | $10,000 |
| 18-month CD | 4.40% APY | $10,000 |
| 2-year CD | 4.25% APY | $10,000 |
| 3-year CD | 4.15% APY | $10,000 |
| 5-year CD | 4.05% APY | $10,000 |
Rates verified against Popular Direct's public rate sheet on the publication date and change frequently. Confirm current APYs directly with the bank before opening an account.
Who Popular Direct is
Popular Direct is the national online deposit channel of Popular Bank, the US-mainland subsidiary of Popular Inc. (NASDAQ: BPOP). Popular Inc. is headquartered in San Juan and is the largest bank in Puerto Rico, with roughly $73 billion in total assets. The US-mainland subsidiary serves customers in New York, New Jersey, Florida, and California through branches, plus nationally via Popular Direct online.
Popular Bank is FDIC-insured (cert #34968) and OCC-regulated. The parent's earnings depend significantly on the Puerto Rico economy, which has been volatile over the past decade.
Why the high minimum and harsh EWP
Popular Direct's $10,000 minimum and severe early-withdrawal penalties (up to 540 days of interest on 3-5 year terms) signal that the bank wants substantial, sticky deposits — not small ladder builders. The targeting is clearly larger-balance customers willing to commit.
The 1-year at 4.55% is competitive; the 540-day EWP on a 3-5 year term is among the harshest in online banking. Don't open a Popular Direct longer-term CD if there's any chance you'll need the money early.
What we like about Popular Direct CDs
- Backed by Popular Inc. (NASDAQ: BPOP), the largest bank in Puerto Rico (~$73B assets)
- FDIC-insured at the Popular Bank level
- 1-year rate (4.55%) is reasonable for the size of the parent institution
- Full term curve from 3-month through 5-year
- Publicly traded parent — quarterly SEC filings available
What we don't
- $10,000 minimum is the highest in this review set — unusable for small ladders
- 540-day EWP on 3-5 year CDs is brutal — one of the harshest in online banking
- 5-year rate (4.05%) is non-competitive vs MYGAs
- Parent earnings depend on Puerto Rico economy — matters to stock holders, less so to FDIC-covered depositors
- Online platform is functional but less polished than Marcus or BMO Alto
How Popular Direct CDs compare vs peers
If this rate is on your shortlist, you should also be pricing:
| Competitor | Term | APY |
|---|---|---|
| BMO Alto | 1-year CD | ~4.75% APY |
| Live Oak Bank | 1-year CD | ~4.60% APY |
| Marcus by Goldman Sachs | 1-year CD | ~4.40% APY |
| Synchrony Bank | 5-year CD | ~4.35% APY |
| Top A-rated MYGA carrier | 5-year MYGA | ~5.65% guaranteed |
Internal benchmarks: Best 5-Year CD Rates 2026 · Best 1-Year CD Rates 2026 · Online vs Brick-and-Mortar CDs.
When a MYGA beats this Popular Direct CD
Popular Direct's 5-year at 4.05% loses to MYGAs cleanly. Compare $250,000 over 5 years:
- Popular Direct 5-yr CD at 4.05%: $250,000 grows to $304,864 (taxable annually)
- A-rated 5-yr MYGA at 5.65%: $250,000 grows to $329,251 (tax-deferred)
- Pre-tax delta: $24,387 in favor of the MYGA
Adding insult: if you needed to break the Popular Direct 5-year CD early, the 540-day interest penalty could wipe out 18 months of earnings. A MYGA's declining surrender schedule (typically 7%, 6%, 5%, 4%, 3% by year) is more flexible. The MYGA wins on yield, on tax deferral, and on flexibility.
Popular Direct CD FAQ
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Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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Bottom line
Popular Direct is fine if you have $10K+ committed and want the parent-bank scale (~$73B). For everyone else, the high minimum and brutal long-term EWP knock it out of the running vs Live Oak ($0 minimum), BMO Alto ($0), or Quontic ($500). The 5-year is uncompetitive vs MYGAs by a wide margin.
About Hans Goldstein: Independent retirement income specialist. CA Life License #4163961. NPN #20602398. Reviews 30+ carriers and tracks bank CD rates weekly. Phone: 213-414-2808. Email: hans@goldsteinco.net.
Disclosure
This review reflects publicly available bank rate sheets and approximate APYs as of the date stated above. CD rates change frequently — sometimes weekly — and the rates above may be stale by the time you read this. Always confirm current rates and terms against the bank's current rate sheet and disclosure documents before opening an account. FDIC insurance covers $250,000 per depositor, per insured bank, per ownership category; deposits above that amount at a single bank are not insured. This article is general information for educational purposes; it is not personalized financial advice, a solicitation, or an offer of any specific product. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) and is not a bank, deposit broker, or registered investment adviser. CDs are bank deposit products and are not sold by insurance producers; references to CDs are for comparison context only. MYGAs (multi-year guaranteed annuities) are insurance contracts, subject to surrender charges and state guaranty fund coverage rather than FDIC. Early withdrawal of a CD before the maturity date typically results in a penalty that may exceed interest earned. Always read the actual deposit account agreement and consult a licensed advisor before making material financial decisions.