The annual percentage yield (APY) is the effective rate of return on an investment for one year taking compounding interest into account.

Discover how annual percentage yield or APY can impact your savings. We also dive into how it's calculated and how it compares to the interest rate.

You don't need to have $10,000 on hand to earn a competitive interest rate on your savings. Most of the CD accounts on our list don't have a minimum deposit required to lock in a high CD rate. Here's ...

How Is it Calculated? Since APY includes compound interest, the calculations are a bit more complicated than the basic interest rate. The formula for calculating compound interest is A = P (1 + r ...

Most major banks like Wells Fargo, Chase and Bank of America offer savings rates around 0.01% APY. Online banks flip this equation entirely.

6% APY savings accounts are here — this is what you need to know Savings accounts are starting to offer 6% APY, but there are limitations.

While annual percentage rate (APR) and annual percentage yield (APY) might sound similar,they’re actually quite different. The first applies to borrowing money, while the second applies to ...

If you come across a 7% interest savings account, you might have struck gold. While a 7% APY is impossible to find, excellent alternatives do exist.

Use our free savings calculator to help plan your financial future. Discover tips and insights that will change the way you save and earn money.

APY vs. interest rate: What’s the difference and how does it impact your savings? While APY and interest rate are often used interchangeably, they are not the same.