Confused about APR and APY? We’re here to help. APR, otherwise known as Annual Percentage Rate, shows the yearly cost of a loan, combining interest and fees. On the other hand, APY, otherwise known as Annual Percentage Yield, calculates the yearly earnings from an investment or savings account. Read more about the difference and how it works at https://bit.ly/3LA4ydC. | KeyBank
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2.4K views · 22 reactions | APR vs. APY: Know the difference! Annual Percentage Rate (APR) shows the cost of borrowing, including fees, while Annual Percentage Yield (APY) shows the interest earned on savings, including compounding. Both are crucial for making informed financial decisions. To learn more, visit https://bit.ly/3LA4ydC. | KeyBank | Facebook
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Do you know the difference between APR and APY? 🧐 Let us know if so! It's one of the more common questions we receive from members: what even is the difference? Natalie from SELCO's Digital member Services team is here to break down the difference. #financialtips #debtrepayment #financialeducation #budget #budgettips #apr #apy #financialwellness #newyearsresolution #loans #creditunion #personalfinance #savingmoney | SELCO Community Credit Union
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