Savings Account & MMA Rates
CD (Certificate of Deposit) Rates
Popular Direct is offering some very competitive CD rates right now.
Entering the scene just recently, it hosts a menu of CDs as well as a simple savings account.
And its CD rates beat out many of the deals from top national banks on our list.
For example, it’s paying 3.50% APY with a $10,000 minimum deposit on a 5-year CD.
The average nationally available 5-year CD pays just 1.45%.
| Term | Rate | Minimum |
|---|---|---|
| 1-year | 2.81% APY | $10,000 |
| 2-year | 3.20% APY | $10,000 |
| 3-year | 3.30% APY | $10,000 |
| 4-year | 3.35% APY | $10,000 |
| 5-year | 3.50% APY | $10,000 |
How to apply
You can apply to open a certificate on its site.
About Popular Direct
Popular Direct is the newer offspring of Banco Popular North America, which is the U.S. subsidiary of Puerto Rican bank Popular Inc.
Popular Inc.’s brick-and-mortar U.S. presence is Popular Community Bank, which operates almost 50 branches in New York, New Jersey and south Florida.
If that rings any bells, it’s because Banco Popular also owns E-Loan, and we wrote about both of them extensively in the summer of 2015 when E-Loan dramatically raised its rates at the same time that Puerto Rico defaulted on its debt (the two events were unrelated, as you can read here.)
Photo credit: Unsplash.com
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