Popular Direct's Information and Current CD Rates
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FDIC Certification Number
Rating: (5 out of 5)100
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Popular Direct CD Rates
Rates Updated: 02/24/2017
Articles Related to Popular Direct
CD Rates Report: 1 Year CD Rates as of January 14, 2017
Listed below is a current CD rates report for 1 year certificates of deposit as of January 14, 2017.
Current 1 Year CD Rates
For a list of today's 1 year CD rates in our database go to MontiorBankRates.com.
Top Savings Rates Update - January 11, 2017
Listed below are the top savings account rates available on our database for January 11, 2017. The sole leader with the best savings account rate this week is Popular Direct with a rate of 1.14 percent and a yield of 1.15 percent.
Top Savings Rates
Interest rates change constantly, you can always get a list of the most current rates by searching our rate database at Savings Rates.
Fed Increases Fed Funds Rate, Banks Yet to Increase Deposit Rates
Another Fed meeting came and went last week with one major difference. The Federal Open Market Committee increased the fed funds rate 25 basis points. This is only the second increase in the past decade. The new target range for the fed funds is 0.50 percent to 0.75 percent.
The rate increase was announced a few days ago and as of this morning, none of the financial institutions in our database increased their rates. There is hope for higher rates, maybe not with this fed rate increase but with future increases.
If rates do move higher we will quickly announce any increases from banks or credit unions.
In additional to increasing the rate this time around, the Fed did something it never has done before. The Fed announced there will likely be three rate increases in 2017 and possibly more if needed. This was a surprise not only because the announcement was made prior to this meeting but also because only one rate increase was expected in 2017.
Three fed funds rate increases in 2017 will likely entice banks and credit unions to increase their deposit rates. Three rate increases will put the top savings rates and money market rates near 2.00 percent.
The current top savings account rate in our database is from Popular Direct at 1.14 percent with a yield of 1.15 percent. The current top money market account rate is at 1.10 percent with a yield of 1.11 percent from EverBank (6 month promo rate/yield).
You can always get a current list of the best savings rates and money market rates by reaching our rate database at Variable Deposit Rates.Read more...
Highest Deposit Rates November 27, 2016
Variable deposit rates continue to inch slowly higher this week. The best savings rate available is at 1.25 percent with a yield of 1.26 percent. The best money market account rate available is slightly lower at 1.24 percent with a yield of 1.25 percent.
Listed below are the best savings rates and money market rates available in our database for November 27, 2016.
Best Savings Rates
Best Money Market Account Rates
Astoria Bank CD Rates Increased on Intermediate and Long Term Accounts
Astoria Bank CD rates were increased on intermediate term and long term certificates of deposit. The largest CD rate increase was on Astoria Bank's 5 year certificate of deposit which was increased 25 basis points. 5 year CD rates were increased from 1.49 percent with a yield of 1.50 percent to 1.73 percent with a yield of 1.75 percent.
The 25 basis point increase puts Astoria Bank's 5 year rate at 9th place on our rate list, up from 17th. Right now the top 5 year CD rate on our list is from Popular Direct at 2.03 percent with a yield of 2.05 percent. You can see the complete list of 5 year CD rates by searching our rate database at MonitorBankRates.com.
Other Astoria Bank CD rate increases include the bank's 18 month CD rate which was increased from 0.75 percent to 0.80 percent.
The bank's 2 year and 30 month CD rates were both increased from 1.04 percent with a yield of 1.05 percent to 1.14 percent with a yield of 1.15 percent.
4 year CD rates were increase from 1.39 percent with a yield of 1.40 percent to 1.49 percent with a yield of 1.50 percent.
You can find the best CD rates at MonitorBankRates.com.Read more...
Best Variable Deposit Rates October 12, 2016
Variable deposit rates have been slowly creeping up for the past several months. The interest rate increases have been small; in increments of less than 10 basis points for the most part. Even with the small increases, the best variable deposit rates are almost comparable to best the 1 year CD rates.
The best savings rate on our rate database is at 1.25 percent with an APY of 1.26 percent from Popular Direct. This savings rate is only 4 basis points lower than the top 1 year CD rate in our database at 1.29 percent with a yield of 1.30 percent. The highest money market yield on our list is 5 basis point lower at 1.24 percent with a yield of 1.25 percent.
Listed below are today's current highest savings rates and money market rates
Highest Savings Rates
Highest Money Market Rates
To view a current list of savings account rates and money market account rates search our database at SavingsAccount.MonitorBankRates.com.Read more...
Popular Direct's Top Savings Rate and Account Review
Popular Direct, the online banking arm of Banco Popular North America (BPNA), is currently offering the best savings rate in our database. Popular Direct's savings rate is at 1.25 percent with an annual percentage yield of 1.26 percent. Popular Direct's savings yield of 1.26 percent is 21 basis points higher than the second best savings rate in our database.
Popular Direct is also in a healthy financial position and gets a 5 out of 5 star rating.
These days, most online savings accounts have a bare minimum opening deposit of $1 or less. The minimum opening deposit for a savings account at Popular Direct is $5,000. Popular Direct's savings rate is tiered based on the account balance but right now all tiers have the same rate and yield.
There is an ongoing minimum balance of $500 that has to be maintained for each statement period. If the balance falls below $500 for even a single day a fee of $4 is charged to the account.
Another popular feature with most online deposit accounts is the ability to deposit checks by just taking photos of the check with your mobile device. Popular Direct also has this feature called Mobile Deposit. Other mobile features include checking your account balance and transferring money between accounts.
Popular Direct's Savings Account Fine Print
For more information on this savings account or to open an account go to Popular Direct Savings Account.
Most CD Rate Changes This Past Week Were Higher
Four banks and one credit union changed their CD rates this past week. The good news is most of the CD rate changes were higher, despite the fact that the Fed didn't increase the fed funds rate. 24 CD rate changes were made last week and only two CD rates were lowered, both from Connexus Credit Union.
You can see how the CD rates listed below compare with other rates available by searching our database of CD rates at MonitorBankRates.com.
Fed Declines to Increase Rates, December Hike Likely
Despite comments in late August by Fed Chair, Janet Yellen, and NY Fed President, William Dudley, regarding a September rate hike, it didn't happen. The FOMC wrapped up their meeting yesterday and decided to leave the fed funds rate unchanged.
The FOMC did telegraph one rate hike in 2016 which will likely come during the Fed's December meeting, after the election. A likely 0.25 percent rate hike in December would put the fed funds rate in a range of 0.50 percent to 0.75 percent.
A 0.25 percent increase is not enough to entice banks to increase deposit rates. As we have reported for the past many years, any large increases in savings rates or money market rates will have to wait until the Fed makes a more significant increase to the fed fund rate.
Currently, the best savings rate in our database is at 1.25 percent with a yield of 1.26 percent from Popular Direct. A 1.25 percent savings rate is on par with the highest 1 year CD rate in our database currently at 1.30 percent. The highest MMA yield in our database is a promotional rate from EverBank at 1.11 percent.Read more...
Compare Popular Direct's CD Rates With Other Bank Rates Below
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