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Knowledge Base Article

APYE rates on Savings Accounts

Why do dividend percentages sometimes look different on some Savings Accounts that should have the same rate?

You will notice on your statement that the dividend rate is the same on all Savings Accounts within the same tier schedule. The Annual Percentage Yield Earned (sometimes abbreviated as APYE) shows the dollar amount of dividends as a percentage of the actual average daily balance in the account. Therefore, different accounts with different average daily balances, may have different APYEs, but be assured they are calculated from the same Dividend Rate as long as they are in the same tier. The APYE shows the relation of the dividends earned to the actual balance in the account. It is required for all periodic statements.