Daily Simple Interest definition
Daily Simple Interest means a method of calculating the interest charge on a loan, which is determined by multiplying the daily interest rate by the principal by the number of days in the period. The amount of interest charged during any one period depends on the number of days in the period.
Examples of Daily Simple Interest in a sentence
SPECIAL Interest Calculation Option Daily Simple Interest Calculation Type Daily Simple Interest Paid to Date Daily Simple Interest Index Daily Simple Interest Pay Option Interest Only Flag Interest Only Term Interest Only End Date VIII.
Origination Date Corporate Advance Balance Interest Calculation Option Original Interest Rate Deferred Interest Balance Daily Simple Interest Calculation Type Maturity Date Amount Daily Simple Interest Paid to Date Original LTV Restricted Escrow Balance Daily Simple Interest Index First Payment Due Date Daily Simple Interest Pay Option Late Charge Factor Ill.
Mortgage Loans so identified on the Mortgage Loan Schedule have been serviced by the Daily Simple Interest Method.