What is APY? This metric allows holders of deposit accounts to accurately understand the amount of interest income that will be generated by their account.

Interest is either the cost of borrowing money or the reward for saving or investing it — depending on which side of the transaction you’re on. For borrowers, interest is a percentage of the amount of ...

As the year enters its final week, savings rates are holding steady -- for now. Many high-yield savings accounts (HYSAs) are still paying between 4.00% and 5.00% APY now. But the pace is slowing.