APR ↔ APY Converter
Convert between APR and APY for different compounding frequencies.
Also known as: convert apr and apy calculator, apr to apy calculator, convert apr and apy, savings finance, savings convert apr and apy
Inputs
Results update when you click Convert Rate.
APY (effective)
5.116%
- Input APR5.000%
- Compounding periods12
- Difference0.116%
Compare savings accounts
APY reflects compounding; use it to compare deposit products with different compounding schedules.
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What this result means
Convert between APR and APY for different compounding frequencies. APY = (1 + APR/n)^n − 1. APR = n × ((1 + APY)^(1/n) − 1).
Assumptions
- Rule dependency: Universal formula / market assumptions.
APR ↔ APY
APY = (1 + APR/n)^n − 1. APR = n × ((1 + APY)^(1/n) − 1).
Example
5% APR compounded monthly ≈ 5.116% APY.
Frequently asked questions
Which rate do banks advertise?+
Savings often quote APY; loans often quote APR — compare like with like.