Fund Your Future

APR vs. APY: Know the Difference

If you’ve ever applied for financing or opened a savings account, you’ve probably seen the terms Annual Percentage Rate (APR) and Annual Percentage Yield (APY). So, what do they mean? And how do they differ from one another? Put simply, APR communicates the cost of borrowing money, while APY expresses [...]

APR vs. APY: Know the Difference2023-05-15T11:05:20-04:00