See how your savings grow with compound interest over time
Compound interest is interest earned on both your original deposit and on previously earned interest. Albert Einstein reportedly called it the eighth wonder of the world. Even small regular contributions can grow dramatically over time thanks to compounding.
APY (Annual Percentage Yield) reflects the actual interest earned in a year including compounding, while APR (Annual Percentage Rate) doesn't account for compounding. When comparing savings accounts, always look at the APY.