Rate Inquiry - APY Calculator
| Screen ID: | n/a | 
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| Screen Title: | APY Rate Calculator | |
| Panel ID: | 98 | |
| Tool Number: | Multiple | |
| Click here to magnify |
This window appears when you use APY Calculator (F2) on the Share Rate Inquiry or Share Dividend Rate Maintenance screen or on the Certificate Rate Inquiry or Certificate Dividend Rate Update screen.
Use the APY Calculator for share accounts to calculate Annual Percentage Yield (APY) figures for any savings product. For example, say a competitor is paying 1.21 APY on a money market savings account. What should your base rate be to equal the same APY? The APY calculator is designed to give you the answer. Simply choose a starting base rate and increment, and the APY Calculator will show a series of rates, with compounding and other variables all factored in.
Use the APY Calculator for certificates to calculate Annual Percentage Yield (APY) figures for any certificate product. For example, say a competitor is paying 4.75 APY on a 12-month certificate. What should your base rate be to equal the same APY? The APY calculator is designed to give you the answer. Simply choose a starting base rate and increment, and the APY Calculator will show a series of rates, with compounding and other variables all factored in.
To use the calculator window, enter the desired starting base rate and increment and use Enter to recalculate a new series of rates. When done, use F3-Backup to return to the original rate screen.
Field Descriptions
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Field Name |
Description |
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CD |
This field shows the type certificate product selected from the rate screen. You may enter a different CD Type code at this time to perform the calculation using a different product configuration. |
|
Rate |
The current base rate for the product. If desired, enter a different rate amount, using 3 digits past the decimal place. Use Enter to see a new list of rates. |
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Increment |
The increment used when calculating the list of rates. The system starts with the rate entered in the Rate field and adds the increment to show rates progressively higher. The APY Calculator can show a list of 18 different rates. If desired, enter a different increment amount, using 3 digits past the decimal place. Use Enter to see a new list of rates. |
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Rate / APY |
These fields list 18 different rates, starting with the specified base rate and increment. Use this list to determine the base rate needed to achieve a specific APY.
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