Marcus vs Sallie Mae vs Popular Direct CD: Which Lock Is Worth the Deposit

These three CDs no longer pay the same rate, and the order has flipped since we first compared them in September 2026. Popular Direct now pays the most of the three at every term all three list, Marcus is still the cheapest way in at $500, and Sallie Mae matches Marcus at 18 months for a higher minimum. Before you wire five figures to a bank because a rate table told you to, it is worth seeing what each deposit requirement actually buys you.

Rates read on each bank's own page (Marcus Oct 14, 2026, Sallie Mae Oct 19, 2026, Popular Direct Oct 19, 2026); Sallie Mae's 18-month rate and the longer terms are from each rate table. Comparisons below use the October 14, 2026 rates.

At 18 months, Popular Direct pulls ahead

Start with 18 months. Popular Direct's 18-month CD pays 4.65% APY, and it opens with $10,000. Marcus pays 4.40% APY on its 18-month High-Yield CD and opens with $500. Sallie Mae's 18-month CD paid 4.40% APY on Oct 19, 2026, with a $2,500 minimum.

Put those numbers in dollars. On $10,000 held for 18 months, Popular Direct's 0.25 point lead was worth roughly $38 over the term against either rival. That is real, but it comes with two conditions: Popular Direct asks for $10,000 where Marcus asks for $500, and breaking its 18-month CD costs 270 days of simple interest, against 180 days at Marcus and Sallie Mae. The $10,000 minimum is no longer a trap on rate, since it now buys the top yield in this group, but it is still a gate most savers cannot walk through.

For a saver putting away $2,000, the choice is made for you. Sallie Mae and Popular Direct will not take the deposit, and Marcus pays 4.40% on 18 months anyway.

Longer terms: two curves climb, Marcus stays flat

Sallie Mae Bank and Popular Direct both pay more for locking past 18 months. Sallie Mae's 36-month CD pays 4.45% APY, and its 60-month showed 4.50% on Oct 19, 2026. Popular Direct's rate table climbed faster, to 4.85% at 36 months and 5.00% at 60. Marcus showed a flat 4.40% from 2 to 6 years, so locking longer at Marcus earned nothing extra.

Both climbing curves still argue for a shorter lock. Going from 36 to 60 months added only 0.05 point at Sallie Mae and 0.15 point at Popular Direct, so the 36-month term gets you nearly the full rate and frees your money two years sooner. That matters because the biggest risk with a CD is not the rate, it is being stuck. If you lock for 60 months and rates climb, you are trapped in an old yield or paying an early withdrawal penalty: 180 days of simple interest at Sallie Mae on terms longer than 12 months, but 730 days at Popular Direct on terms of 60 months or more.

So which lock is worth the deposit?

Line the three up by what they actually ask of you:

• If you have less than $2,500, Marcus is the only one of the three that will take the money, at 4.40% on 18 months.
• If you have between $2,500 and $10,000, Marcus and Sallie Mae paid the same 4.40% at 18 months, so Marcus's lower minimum decides that term. Sallie Mae pays more only if you lock for 36 months, at 4.45%.
• If you have $10,000 or more and can leave it alone, Popular Direct paid the top rate in this group at every term all three list, with the steepest penalties of the three.

The pattern has changed. Marcus and Sallie Mae sat within 0.10 point of each other from 18 months to 5 years, so between those two you are really shopping for the smallest minimum and the shortest term that still pays well. Popular Direct sat 0.25 to 0.60 point above them at 18, 36 and 60 months, and its premium costs a $10,000 entry and penalties that reach a year or more of interest on longer terms.

Bottom line

Popular Direct is now the CD to open if you have at least $10,000 you will not touch for the full term: 4.65% at 18 months beat Marcus and Sallie Mae, and its longer terms led too. Under that amount, Marcus is the pick, since $500 gets you 4.40% at 18 months, a rate Sallie Mae's 18-month CD did not beat. Reach for Sallie Mae if you want a 36-month lock at 4.45% without Popular Direct's buy-in. This replaces our September 2026 verdict, which favored Sallie Mae when Popular Direct only matched Marcus at 18 months.

FAQ

Do all three pay the same APY?
No. At 18 months Popular Direct pays 4.65% and Marcus 4.40%, while Sallie Mae paid 4.40% on Oct 19, 2026. Popular Direct led at every term all three list, but it needs the largest deposit.

Why would anyone choose the $10,000 minimum?
For the rate: on October 14, 2026, Popular Direct out-paid both rivals at every term all three list, from 6 months to 5 years. The trade-offs are the entry price and a stiffer penalty if you break the CD early, 270 days of simple interest on its 18-month term.

Is a 36-month CD better than a 60-month CD at Sallie Mae?
At 4.45% versus the 4.50% shown for 60 months on Oct 19, 2026, the shorter term is usually better. You give up 0.05 point and get your money back two years sooner, which lowers the risk of being locked in if rates rise.

Are these CDs safe?
All three are issued by FDIC insured banks, so your deposit is protected up to the standard insurance limits. A CD's risk is about liquidity and early withdrawal, not losing principal.

What is the catch with the lowest minimum?
A lower rate than the top of the group. Marcus's $500 minimum comes with 4.40% at 18 months, behind Popular Direct's 4.65%, which needs $10,000. On a $5,000 deposit Popular Direct is not an option, and on October 14, 2026 Marcus gave up nothing at 18 months to Sallie Mae.