APY* – This stands for annual percentage yield. The APY* of an account tells you what effect compounding has on your initial investment. If you deposit $1,000 in an account that earns 5.0% compounded monthly, you’ll actually earn 5.12% or $51.20 instead of just $50 after a year passes. The APY* is a handy way to compare accounts for their true return on investment. It accounts for both your deposit(s) or principal amounts plus how interest is earned on the account type.
Routing #325081500
