How to use Annual Percentage Yield Calculator
- Interest Rate: Checking/Savings rate.
- Compounding Frequency: How often interest is paid.
- Result: APY %.
About Annual Percentage Yield Calculator
The APY Calculator converts an interest rate to Annual Percentage Yield. It standardizes returns so you can compare a savings account that compounds monthly vs one that compounds daily.
Banks advertise APY for savings and APR for loans to make the numbers look better for them.