# FYI: HSBC Online-Only Savings 4.25% APY

**URL:** <https://forums.speedlife.net/t/fyi-hsbc-online-only-savings-4-25-apy/41158>\
**Category:** NYSpeed Off Topic\
**Created:** [January 3, 2008, 11:09am UTC](https://forums.speedlife.net/t/fyi-hsbc-online-only-savings-4-25-apy/41158 "2008-01-03T11:09:47Z")\
**Posts on this page:** 1\
**Showing post:** 11

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**Author:** ![Nikuk](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/nikuk/32/7254_2.png) [@Nikuk](https://forums.speedlife.net/u/Nikuk)\
**Post date:** [January 3, 2008, 11:25am UTC](https://forums.speedlife.net/t/fyi-hsbc-online-only-savings-4-25-apy/41158/11 "2008-01-03T11:25:10Z")

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> [@Fry](#):
>
> I thought that 4.25% APY meant 4.25% compouned annually?

APY is a disclosure statement.

APY = the rate of interest earned through compounding if you leave all interest accrual in the account.  
APR = annual percentage rate, if you were to withdraw your interest earning when paid (monthly).

edit- here, [What Is Annual Percentage Yield?](http://banking.about.com/od/savings/a/apy.htm)

> In the example I’ve used, you’ll find that the APY is 6.183%. In other words, if you get 6% annually with daily compounding, your APY = 6.183. Try changing the compounding frequency and you’ll get an idea of how the APY changes. For example, you might show quarterly compounding (4 times per year) or the unfortunate 1 payment per year (which just results in a 6% APY).

for example, with the M&T Bank _4.75% APY_ I posted,they state _APR is 4.63%_.

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