The 4.9% headline: five small words that change everything.

A number like 4.9% looks simple because it is short. The surrounding words do the real work. APY, variable, promotional, minimum, and eligibility can each change what the reader should understand.

APY

APY is usually more useful for comparison than a bare rate because it includes compounding assumptions. If the page does not define the number, do not compare it yet.

Variable

Variable means the rate may move. A strong current number does not promise the same number later.

Promotional

Promotional language often has a clock, a requirement, or a future reset. The important question is what happens after the promotional period.

Minimum

Minimum balance rules can decide whether the rate applies at all. Sometimes a lower balance receives a different rate or triggers fees.

Eligibility

Eligibility can include geography, account type, relationship status, deposits, or new-customer conditions. The headline may be true while still not applying to everyone.