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What Is the Difference Between the Interest Rate and Annual Percentage Yield (APY) on My Performance Savings Account?

April 26, 2017annual APY Interest rate PERCENTAGE PERFORMANCE savings account yield

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What Is the Difference Between the Interest Rate and Annual Percentage Yield (APY) on My Performance Savings Account?

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An APY measures how much return you can expect on money that is left alone in order to accrue interest. Interest on a Heartland Bank Direct Performance Savings Account is compounded daily, so you’re earning interest on your original deposit plus any previously earned interest. That compounded interest is the APY; an account that compounds daily will you get a slightly higher return than with just its stated interest rate.