APR describes an annual rate
APR, or annual percentage rate, is commonly used to describe the yearly cost of borrowing. How it is calculated and what it includes can vary by product, so the surrounding disclosures matter.
APY reflects compounding
APY, or annual percentage yield, is often used for deposit accounts. It reflects the effect of compounding over a year, which can make it different from a stated periodic rate.
Always read the account terms
Rates, fees, balance requirements and eligibility can change. Compare current information directly from the provider and consider the full product terms, not a percentage alone.
Editorial note
This initial release uses research-first review and comparison templates while merchant partnerships are not yet active. Product-specific facts should be independently verified before publication.
