# APR ⇄ APY converter — effective annual rate, no upload

> Convert between APR and APY and find the effective annual rate for any compounding frequency. Runs in your browser, no upload. Informational only.

Convert between APR and APY and compute the effective annual rate for any compounding frequency, so you can compare loans and savings on equal footing. The conversion happens on your device and is provided for information only.

Lenders and banks quote rates in whichever form looks best — APR on loans, APY on savings — which makes products hard to compare. Converting to a common effective rate cuts through that so you're comparing like with like.

The effective annual rate is the honest number: what you actually pay or earn over a year once compounding is counted. For a full loan schedule use the Amortization calculator, and for savings growth use Compound interest.

## How to

1. **Enter a rate.** Type an APR or APY value.
2. **Set compounding.** Choose how often it compounds (daily, monthly, etc.).
3. **Read the result.** See the converted rate and the effective annual rate.

## FAQ

### What's the difference between APR and APY?

APR is the nominal annual rate ignoring compounding; APY (or effective annual rate) includes compounding, so APY is always at least as high as APR for the same nominal rate.

### Why does compounding frequency matter?

More frequent compounding raises the effective rate, so a 12% APR compounded monthly yields a higher APY than the same APR compounded annually.

### Is this financial advice?

No. It's a rate conversion for comparison; product terms and fees also matter, so read the full terms before deciding.


## Related tools

- [Loan & mortgage](https://www.safepaper.app/finance/loan-amortization)
- [Compound interest](https://www.safepaper.app/finance/compound-interest)
- [Inflation & PV](https://www.safepaper.app/finance/inflation)
- [Debt payoff](https://www.safepaper.app/finance/debt-payoff)

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