Enter the interest rate
Type the nominal annual rate quoted by the bank, for example 4.5.
APY Calculator
Turn an interest rate into its annual percentage yield and see what a deposit earns.
Free
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Runs in your browser
APY shows what a nominal rate earns in one year once interest is added to your balance. Banks must quote APY, so use it to compare accounts.
–Annual percentage yield
–Balance at the end
–Interest earned
Results update as you type
Estimates assume a fixed rate, no withdrawals and no fees or taxes.
Adding money every month? Use the Compound Interest Calculator.Common uses
- Compare savings accounts that compound differently
- Check the APY quoted for a certificate of deposit
- Estimate interest on a deposit before you open an account
How it works
How to use APY Calculator
Choose the compounding
Pick how often interest is added: daily, monthly, quarterly, twice a year, once a year or continuously.
Read the yield
See the APY, plus the balance and interest for an optional deposit over the years you enter.
FAQ
Good to know
How do I use APY Calculator?
1. Enter the interest rate: Type the nominal annual rate quoted by the bank, for example 4.5. 2. Choose the compounding: Pick how often interest is added: daily, monthly, quarterly, twice a year, once a year or continuously. 3. Read the yield: See the APY, plus the balance and interest for an optional deposit over the years you enter.
What is the difference between APR and APY?
APR is the simple yearly rate. APY includes the effect of compounding, so it is higher whenever interest is added more than once a year.
Does more frequent compounding make a big difference?
It helps slightly. At 5%, monthly compounding gives an APY of about 5.12% and daily about 5.13%.
Are taxes and fees included?
No. The calculator assumes a fixed rate with no fees, taxes or withdrawals.
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