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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.
APY = Annual Percentage Yield
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% |
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.
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 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.
PROS
CONS
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.
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.
APY = Annual Percentage Yield
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.
Learn more about how The Motley Fool Ascent rates bank accounts.
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
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.