Average Daily Balance Method definition

Average Daily Balance Method. Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal balance in the account each day. Accrual of Dividends. Dividends will begin to accrue on the business day we receive provisional credit for the deposit of noncash items (e.g. checks) to your account. Dividends will begin to accrue on cash deposits on the business day you make the deposit to your account. Once dividends are credited to a certificate account, it becomes principal. If you close your Certificate account before any dividend is credited, you will not receive accrued but uncredited or unpaid dividends.

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Average Daily Balance Method means that the interest will be calculated each day by applying a daily interest rate (based on the annual interest rate specified in the Offer) to the average balance in the CD or MMDA each day (which is determined by adding the full amount of the principal balance in the CD or MMDA on each day during the month and dividing that total by the number of days in the month).

Average Daily Balance Method for Share, IRA Share, Holiday Share, Money Market, and Checking Accounts. Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in your account

Examples of Average Daily Balance Method in a sentence

• The Average Daily Balance Method applies a periodic rate to the average daily balance in the account for the period.

• For accounts using the Average Daily Balance Method, dividends are calculated by applying a periodic rate to the Average Daily Balance in the account for the dividend period.

• The Average Daily Balance Method is the application of a periodic rate to the average daily balance in the account for the period.

• We use the Average Daily Balance Method to calculate the dividends on Your account.

• We use the Daily Balance Method and the Average Daily Balance Method to calculate Dividends on your account, as indicated on your Rate Schedule.

• For all other Accounts: The Average Daily Balance Method applies a periodic rate to the average daily balance in the account for the period.

• We use the Average Daily Balance Method to calculate Dividends on your account, as indicated on your Rate Schedule.

• We use the Average Daily Balance Method (including new Cash Advances).

• We use the Average Daily Balance Method (including new Purchases).

• Dividends are calculated by the Average Daily Balance Method which applies a periodic rate to the average daily balance in your account for the period.

More Definitions of Average Daily Balance Method

Average Daily Balance Method. Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in your account for the Period. The average daily balance is calculated by adding the balance in your account for each day of the Period and dividing that figure by the number of days in the Period.

Average Daily Balance Method means the application of a periodic rate to the average daily balance in the Account for the period, determined by adding the available balance in the Account for each day of the period and dividing that figure by the number of days in the period.