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Financial term
Annual percentage yield (APY) is a normalized representation of an interest rate, based on a compounding period of one year. APY figures allow a reasonable, single-point comparison of different offerings with varying compounding schedules. However, it does not account for the possibility of account fees affecting the net gain. APY generally refers to the rate paid to a depositor by a financial institution, while the analogous annual percentage rate (APR) refers to the rate paid to a financial institution by a borrower.
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Some of the highest CD rates are at 4% APY or higher. Not sure where to find them? Learn where to get the best CD rates today, Tuesday, October 6, 2026.
Take a look at the highest savings account rates available on the market.