Popular Direct Select Savings
Popular Bank pays a 3.90% APY with a $100 minimum to open, held at Popular Bank (Member FDIC), which we confirmed is an active FDIC member. The rate and terms come from our verified data partner with direct provider relationships — a strong, FDIC-backed option for a high-yield savings home.
Is the Popular Direct Select Savings worth it?
The Popular Direct Select Savings earns a 3.90% APY with a $100 minimum to open. We source this rate from our verified data partner, which maintains direct relationships with providers. This rate carries our ◆ Partner data label — we did not fetch it from the bank ourselves.
The account is held at Popular Bank. We [confirmed with the FDIC](https://api.fdic.gov/banks/institutions?filters=CERT:Popular Bank) that it is an active insured institution — certificate #34967 in New York, New York. Deposits are covered up to $250,000 per depositor, per ownership category.
The honest caveat: the APY is partner-supplied and variable, and it can change without notice. Confirm the current rate on the provider’s own site before opening. This is not financial advice.
How does a high-yield savings account work?
A high-yield savings account holds cash and pays interest, quoted as an annual percentage yield (APY). The bank can change a variable APY at any time, and federal rules may limit certain withdrawals. Interest compounds — usually daily or monthly — and is taxable income in the year you earn it.
How much could you earn with the Popular Direct Select Savings?
At a 3.9% APY, a $10,000 balance in the Popular Direct Select Savings earns about $390 in interest over a year, before taxes. Double the balance and you roughly double the interest; your real return depends on how long the rate holds.
Illustrative estimate based on the figures on this page, not an offer. Your results will differ.
What are the pros and cons of the Popular Direct Select Savings?
The Popular Direct Select Savings stands out for 3.90% APY, sourced from our verified data partner, though rate is partner-supplied — we did not fetch it from the provider ourselves.
- 3.90% APY, sourced from our verified data partner
- A $100 minimum to open
- Held at Popular Bank, an FDIC member we confirmed with the regulator
- Rate is partner-supplied — we did not fetch it from the provider ourselves
- APY is variable and can change without notice
- Online-focused account with limited or no branch access
Who should get the Popular Direct Select Savings?
The Popular Direct Select Savings is best for savers chasing a top-of-market APY.
- Savers chasing a top-of-market APY
- People comfortable with an online-first bank
- Anyone who wants FDIC-insured savings with low or no minimums
Money guides for: First-time savers
How does the Popular Direct Select Savings compare?
Among the 29 high-yield savings accounts we track, the Popular Direct Select Savings ranks #17 with a money8020 score of 84/100.
| Product | Score | Tier | Provider |
|---|---|---|---|
| Marcus by Goldman Sachs Online Savings | 96 | Essential | Marcus by Goldman Sachs |
| Bread Savings High-Yield Savings | 94 | Essential | Bread Savings |
| Pibank Savings | 94 | Essential | Pibank |
| Poppy Bank High Yield Savings | 94 | Essential | Poppy Bank |
| Vio Bank High Yield Online Savings | 94 | Essential | Vio Bank (a division of MidFirst Bank) |
See all high-yield savings accounts, ranked →
Common mistakes to avoid with a high-yield savings account
- Chasing a teaser rate without checking the ongoing APY or any balance tier needed to earn it.
- Leaving an emergency fund in a 0.01% big-bank account instead of a high-yield account.
- Assuming the APY is fixed — it is variable and can drop after you open.
- Overlooking transfer times: moving money to a linked bank can take one to three business days.
Key takeaways
- Popular Direct Select Savings earns a money8020 score of 84/100, ranking #17 of 29 high-yield savings accounts.
- 3.90% APY, sourced from our verified data partner
- At a 3.9% APY, a $10,000 balance in the Popular Direct Select Savings earns about $390 in interest over a year, before taxes.
- Best for savers chasing a top-of-market APY.
- Rate and terms sourced from our verified data partner.
Frequently asked questions about the Popular Direct Select Savings
What is the APY on the Popular Direct Select Savings?
Per our data partner, the account pays a 3.90% APY with a $100 minimum to open. our data partner maintains direct relationships with providers, but the rate is variable and can change at any time without notice — confirm the current APY on Popular Bank's own site before opening. This is not financial advice.
Is the Popular Direct Select Savings FDIC insured?
Yes. Funds are held at Popular Bank (member FDIC), which we confirmed with the FDIC is an active insured institution (certificate #34967, New York, New York). Deposits are insured up to $250,000 per depositor, per ownership category.
Can the rate on the Popular Direct Select Savings change?
Yes. A high-yield savings APY is variable, so the bank can raise or lower it at any time, often following moves in the federal funds rate. Check the rate before you open and review it periodically.
How is interest from the Popular Direct Select Savings taxed?
Savings interest is taxable as ordinary income in the year you earn it. If you earn more than $10, the bank sends a Form 1099-INT, and you report it on your federal return.
Sources
We sourced these figures from our verified data partner and independently confirmed the provider’s regulator status, last checked May 30, 2026. Primary sources: