APR on saving products
Unlike the nominal rate of interest, which only considers the return or compensation that you receive when you deposit money with the bank, the Annual Percentage Rate (APR) also takes other charges into account.
How is the APR of a deposit calculated?
The APR is based on the compound interest rate and assumes that the interest obtained is reinvested at the same rate.
The APR is a very useful indicator, as it allows you to compare different types of accounts or deposits, regardless of their specific conditions.
Use our bank deposit calculator (in Spanish) to find the APR and the gross interest on a deposit. This will allow you to compare the results for different types of bank deposits.