APY & APR Calculator
Convert rates in either direction. Switch between APY → APR and APR → APY, then choose how often interest compounds.
Enter the advertised APY
Use the APY shown by the bank or credit union, then select its compounding frequency.
Your converted rate
Equivalent nominal annual rate based on your selected frequency.
What is the difference between APY and APR?
APY shows what a deposit can earn in one year after compounding. APR states the annual rate without including the effect of compounding. For savings accounts, money market accounts and CDs, APY is usually the better number for comparing earnings.
- More frequent compounding generally creates a slightly larger gap between APY and APR.
- If interest compounds annually, APY and APR are the same.
- Always compare deposit products using APY when the term and account conditions are similar.
This calculator provides educational estimates and is not financial advice. Actual calculations may vary because of institution-specific methods, day-count conventions, fees and rounding. Confirm the stated APY and account terms directly with the financial institution.