Interest Language

Financial pages often use similar-looking terms for different ideas.

APY

Annual Percentage Yield expresses a yearly yield with compounding assumptions.

Variable

A variable rate may change. The page should explain how changes are communicated.

Tiered

A tiered rate means different balances may earn different rates. Check whether the headline applies to all money or only part of it.

Educational content only. This article does not recommend any account, product, institution, or financial action.