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Convert APR to APY and APY to APR with daily, monthly, quarterly or yearly compounding, and see the interest earned on a deposit.
How to useAPR vs APY
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APR to APY calculator: what it is for
Enter a rate, choose whether it is an APR or an APY and pick how often interest compounds. The calculator converts it to the other rate and shows how much a deposit earns in one year.
Use it to compare savings accounts, CDs and loans on the same basis.
How to use
- Enter the rate.
- Choose APR → APY or APY → APR and the compounding.
- See the converted rate and the yearly interest.
When to use it
- Comparing high-yield savings accounts and CDs.
- Understanding the real cost of a credit card.
- Checking a bank's advertised rate.
Frequently asked questions
What is the difference between APR and APY?
APR is the yearly rate without compounding. APY (annual percentage yield) includes compounding, so it shows what you really earn or pay in a year. Savings accounts advertise APY; loans and cards advertise APR.
What is the formula?
APY = (1 + APR ÷ n)^n − 1, where n is the number of compounding periods per year. With continuous compounding, APY = e^APR − 1.
Why is my card's real rate higher than the APR?
Cards compound interest daily, so a 24% APR is about 27.1% APY if you carry the balance for a full year.
Is it really free?
Yes, 100% free. No sign-up, no subscription and no usage limits. All Tools123 tools are free and run right in your browser.