What Exactly Does Apy Mean In Relation To Interest On A Savings Account?

One Response to What Exactly Does Apy Mean In Relation To Interest On A Savings Account?

1. upstatec says:

   January 24, 2010 at 3:06 am

   Annual percentage yield.
   its the annualized standard for comparing yields on fixed income deposits.
   .25% per month for a year would be 3 percent simple interest (12 x .25%), but a little more for compounding if interest is paid monthly.
   .25% per mo. is certainly less than 5.10% APY