What Is The Difference Between APR and APY?

Both are used to reflect the interest rate paid on a product. APR (annual percentage rate) is the annual interest paid on an investment while APY (annual percentage yield) is how that interest is applied. The APY can be applied anywhere from daily to annually.

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For more information on interest rates, contact the Brownsville credit union, Valley Federal Credit Union at (956) 546-3108.