Find out the true annual percentage yield of your savings or loans.
Calculate APY
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How to Use This Calculator
Enter the nominal rate (APR) and compounding frequency.
Frequently Asked Questions
What is the difference between APR and APY?
APR is the simple interest rate, while APY includes the effect of compound interest.
What is the difference between APR and APY in the APY Calculator?
APR is the simple interest rate. The APY Calculator determines the effective rate once compound interest is factored in.
Why do banks advertise APY? The APY Calculator shows why.
Banks advertise APY for savings because it is higher than APR, making it look better. The APY Calculator reveals the exact math.
Does compounding frequency matter in the APY Calculator?
Absolutely! The APY Calculator will show you that daily compounding yields more money than monthly compounding at the same APR.
Is the APY Calculator useful for credit cards?
Yes. Credit cards compound daily. You can use the APY Calculator to see the true, terrifying annual cost of a 24% APR card.