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The Benefits of Compounding

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.

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The calculations provided by this calculator are based entirely on the information you enter, including any loan amount and/or interest rate. These calculations do not reflect the terms available for any ANB Bank loans or whether you qualify for any ANB Bank loan.