Banking Term: Annual Percentage Yield (APY)

Find important banking term that is useful in upcoming banking exam.

Created On: Dec 24, 2014 16:23 IST

Definition: It is the percentage rate that reflects the total amount of interest, which is paid on deposit account on the basis of interest rate and frequency of compounding for 365 days in a year.

Multiple Choice Questions

The interest rate charged per period multiplied by the number of periods per year is called………………..? 

  1. effective annual rate
  2. annual percentage rate
  3. periodic interest rate
  4. compound interest rate
  5. daily interest rate

Ans. B

Jagran Play
रोमांचक गेम्स खेलें और जीतें एक लाख रुपए तक कैश
ludo_expresssnakes_ladderLudo miniCricket smash
ludo_expresssnakes_ladderLudo miniCricket smash

Related Categories

Related Stories

Comment (0)

Post Comment

2 + 9 =
Post
Disclaimer: Comments will be moderated by Jagranjosh editorial team. Comments that are abusive, personal, incendiary or irrelevant will not be published. Please use a genuine email ID and provide your name, to avoid rejection.