Annual Percentage Yield (APY) Financial Glossary

What is it? A percentage rate reflecting the amount of interest a savings account would earn over a one-year period at a given interest rate - if all interest and principal were left in the account to compound (see Interest Rate, Compound Interest). Reflects the total amount of interest paid on a deposit account, based on the interest rate and the frequency of compounding for a 365-day period.

Finance Term Definition Added By: Hunter

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