If you've been looking at interest-bearing accounts like high-yield savings accounts or certificates of deposit (CDs), you may see the terms "interest rate" and "annual percentage yield" (APY ...

Text Callout : Key Takeaways - APY vs. Interest Rate: What's the Difference? The APY and the interest rate are two key figures to know when storing money in a savings account or other interest ...

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC Select will update as changes are made public.

With eight years of experience as a financial journalist and editor and a degree in economics, Elizabeth Aldrich has worked on thousands of articles within the realm of banking, economics, credit ...

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APY stands for annual percentage yield, which provides a full picture of how much interest you can earn on savings over one year. APY includes compound interest, or "interest on interest.

Kristy is a freelance contributor to Newsweek’s personal finance team. As an editor, Kristy has worked with sites like Bankrate, JPMorgan Chase and NextAdvisor to craft and hone content on ...

Rebecca Lake is a certified educator in personal finance (CEPF) and a banking expert. She's been writing about personal finance since 2014, and her work has appeared in numerous publications online.

The APY and the interest rate are two key figures to know when storing money in a savings account or other interest-earning bank account. Both are expressed as percentages, but an account’s APY ...