Common use of Balance Calculation Method Clause in Contracts

Balance Calculation Method. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. The principal balance used to calculate interest is the balance on which interest has begun to accrue (see Section 6.2 above).

Balance Calculation Method. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. The principal balance used to calculate interest is the balance on which interest has begun to accrue (see Section 6.2 2.2 above).