APY vs APR: What’s the Difference?

3 min read

The cost of borrowing money can be confusing. There are so many different loan terms and conditions that it’s easy to get confused about what you’ll actually be paying. It’s not just the interest rate that determines how much a loan will end up costing you. You need to look at both the annual percentage rate (APR) and the annual percentage yield (APY) to know exactly what your costs will be. Both of these measurements reveal different things about a loan, so it’s important to understand how they impact your finances. Read on for details about the difference between APR…...

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Kelroy James Kelroy James is a Supply Chain, Logistics & Operations Management professional with extensive expertise in successfully delivering organisational change, building quality working relationships with key customers and adept at working effectively to achieve goals both as a cross-functional team member and individual contributor. He is a Percy Hobart Innovation Fellow in the Royal Navy, DeFi Talent with Frankfurt School Blockchain Center, graduate of Aston University with a BSc (Hons) in Logistics and Operations Management, and recently completed a Micro Masters In Predictive Analytics using Python with the University of Edinburgh. With a keen interest in driving organisational improvements, he creates value for stakeholders by designing and implementing processes that integrate strategy, technology, and people.