Annual Percentage Yield definition
Annual Percentage Yield or “APY” is the total amount of interest paid on a Savings Account, based on the interest rate and the frequency of compounding for a 365-day period (366-day period in a leap year), and is expressed as a percentage.
Annual Percentage Yield or “APY” means a percentage rate reflecting the total amount of interest as calculated pursuant to the federal Truth in Savings Act.
Annual Percentage Yield or “APY” means a percentage rate reflecting the total amount of dividend expected to be earned in a year on an account, based on the dividend rate and the frequency of compounding the accrued dividend. All disclosures concerning the APY applicable to an account (other than Term Share Certificate Accounts which are covered by separate paragraph) assume that the dividend rate disclosed remains in effect for one year and that dividends are not withdrawn.
Examples of Annual Percentage Yield in a sentence
The Annual Percentage Yield (APY) will be posted along with the annual dividend rate.
For all accounts except Term Certificate Accounts, the dividend rate and Annual Percentage Yield (APY) may change daily.
For all accounts except term share (certificate) accounts, the Dividend Rate and Annual Percentage Yield (APY) may change at any time as determined by the Credit Union’s Board of Directors.
The minimum daily balance required to obtain the disclosed Annual Percentage Yield (APY) for Tier 1 is $2,500, for Tier 2 is $10,000, for Tier 3 is $50,000, and for Tier 4 is $100,000.
For variable rate accounts, the interest rate and Annual Percentage Yield (APY) for any statement period may be a combination of more than one rate during the period.
More Definitions of Annual Percentage Yield
Annual Percentage Yield is the annually compounded Annual Interest Rate offered by the Company when aPledge Digital Security Tokens are purchased in an initial offering.
Annual Percentage Yield. The Annual Percentage Yield (“APY”) is a measure of the total amount of interest paid on an account based upon the interest rate and frequency of compounding. The APY is expressed as an annualized rate, based on a 365 day year or a 366 - day year in a leap year if interest is earned or anticipated to be earned on February 29. Accounts opened after February 29 in a leap year earn interest based on a 365 day year. The APY calculation is based upon the actual number of days in the term of the account; however, for accounts without a stated maturity date, the calculation is based on an assumed term of 365 days or 366 days in a leap year if interest is earned or anticipated to be earned on February 29. Accounts opened after February 29 in a leap year earn interest based on a 365 day year. In making the calculation it is assumed that all principal and interest remain on deposit for the entire term and that no other transactions (deposits or withdrawals) occur during the term. For variable rate accounts, the calculation is based only on the initial interest rate in effect when the account is opened (or advertised), and assumes that this rate will not change during the term.
Annual Percentage Yield or “APY” means a percentage rate reflecting the total
Annual Percentage Yield or “APY” means a percentage value reflecting the total amount of interest paid on the account, based on the interest rate and frequency of compounding. “Business Day” means any day of the week that is not a Saturday, Sunday or bank holiday. “Checks” mean checks, drafts and other negotiable instruments, including substitute checks. “Item” refers to all orders and instructions for the payment, transfer, or withdrawal of funds from an account, which includes any checks and electronic transactions.
Annual Percentage Yield means the effective annual rate of return for savings and share accounts taking into account the effect of compounding interest;
Annual Percentage Yield means a percentage rate reflecting the total amount of interest paid on an account, based on the interest rate and the frequency of compounding for a 360-day period;
Annual Percentage Yield. (“APY”) means a percentage rate reflecting the total amount of interest paid on an account based on the interest rate and the frequency of compounding to occur for every day of the year, and calculated on the Collected Balance (principal) on deposit each day.