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    APY Calculator

    Calculate APY from any interest rate and compounding frequency with this free online APY calculator, and see the interest your savings will earn.

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    How to use APY Calculator

    1. 1Enter the interest rate and choose how often it compounds (daily, monthly, quarterly or yearly)
    2. 2Optionally add a deposit and the number of years to see the interest earned
    3. 3Read the annual percentage yield, or switch modes to turn an APY back into a nominal rate

    Frequently asked questions

    What is the difference between APR and APY?▾

    APR is the stated yearly interest rate without compounding. APY includes the interest earned on interest, so a 4.5% rate compounded daily gives an APY of about 4.60%.

    How do you calculate APY?▾

    APY = (1 + r ÷ n)^n − 1, where r is the yearly rate as a decimal and n is the number of compounding periods per year. Continuous compounding uses e^r − 1.

    Does daily or monthly compounding make a big difference?▾

    Only a little. At 5%, monthly compounding gives an APY of 5.12% and daily compounding 5.13%. Compare accounts by APY, since it already includes compounding.

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