The Benefits of Compounding

Jar of coins

How interest is calculated can have a great impact on the interest earned by your account and how your savings grow. Compound interest arises when interest is added to the principal and when the interest that has also been added earns interest. You will see your account balance grow more quickly with accounts that pay interest more frequently. The "Annual Percentage Yield" or APY is the effective annual rate of return once the effect of compounding interest is factored in.

NOTICE: ANB Bank is not responsible for nor has control over the content of any linked site. The inclusion of a link does not imply or constitute an endorsement by ANB Bank, its ownership or management, the products or services it offers, or any advertisers or sponsors appearing on the linked site.