APY stands for Annual Percentage Yield.
| Short Form | APY |
| Full Form | Annual Percentage Yield |
| Category | Business ยป Finance |
| Country | Worldwide |
| Popularity |
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| Type | Initialism |
What is APY?
Annual Percentage Yield is a term used in banking to describe the rate of interest that is offered on a loan.
The Annual Percentage Yield on a loan is the total amount of interest that is owed over the course of a year, divided by the amount of the loan. For example, if someone borrows $10,000 with an annual percentage yield of 8%, they will owe $80 in interest each month.