Effective Annual Rate Calculator — free online
A loan or savings account shows you one rate, but the real number you pay or earn can be a bit different. That gap comes from compounding, and it's hard to picture in your head. We added a free tool that sorts it out for you — Effective Annual Rate Calculator — right in your browser.
What it does
You type in a nominal rate (the APR) and choose how often it compounds, and it gives you the effective annual rate (APY) for that schedule. So you can see what a quoted rate actually turns into over a year, whether the interest is added monthly, daily, or anything in between.
Nothing leaves your device
The whole thing runs inside your browser. The numbers you enter aren't uploaded anywhere and nothing is saved. When you close the tab, it's gone — there's no account and no tracking of what you typed.
How to use it
- Open Effective Annual Rate Calculator and enter the nominal rate (APR).
- Pick how often it compounds — monthly, daily, quarterly, and so on.
- Read the effective annual rate (APY) and use it to compare offers.
It's free with no limit. There are more small tools on the Apps page.