APR vs. APY: The quick breakdown from Natalie, Digital Service Member Specialist 💸 APR = Annual Percentage Rate APY = Annual Percentage Yield Here’s the bottom line: a higher APR means you’ll pay more on a loan, while a higher APY means you’ll earn more on your investment. 💵✅ #financialtips #debtrepayment #financialeducation #savingmoney #budgettips | SELCO Community Credit Union

Confused about interest rates? APY (Annual Percentage Yield) is what you earn on savings or investments and includes compounding, so higher is better. APR (Annual Percentage Rate) is what you pay to borrow money, like with a loan or credit card, and includes fees—so lower is better. Compare APY for saving and APR for borrowing! https://www.onlinebanktours.com/m/article.php?b=1688&id=79977 #teamFBC #FirstBankChicago #memberFDIC #EqualHousingLender | First Bank Chicago

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