APY Calculator
Turn an interest rate (APR) into the annual percentage yield (APY) you actually earn, and see a year of interest on your deposit for daily, monthly or quarterly compounding.
Result
APY
5.12%
- Interest in the first year
- $511.62
- Balance after one year
- $10,511.62
Common questions
What is the difference between APR and APY?
APR is the yearly rate before compounding. APY includes the interest you earn on interest, so it is always equal to or higher than APR. A 5% APR compounded monthly is a 5.12% APY.
Which should I compare when choosing a savings account?
Compare APY. It already accounts for how often each bank compounds, so it shows what you actually earn in a year.