Guaranteed Minimum Interest Rate definition

Guaranteed Minimum Interest Rate means the minimum interest rate that will be credited to the contract value. This rate will never be less than zero (0%).
Sample 1Sample 2Sample 3
Guaranteed Minimum Interest Rate. [1.00% for the calendar year of issue] Minimum DCA Transfer Amounts: Monthly [$25] Quarterly [$75] Semi-Annual [$100] Annual [$300] GIA Transfer Limit: [12 transfers per Contract Year] Maximum GIA Transfer Amount [$1,000] Maximum GIA Transfer Percentage [25%] GIA Payment Limit [$250,000] Minimum Withdrawal Amount: [$100] Minimum Premium Payment: [$200] Maximum Premium Payment: [$1,000,000] Maximum Aggregate Premium Payment: [$5,000,000] Assumed Investment Rate: [4.5%] VASP-ENH2 7 ME
Sample 1
Guaranteed Minimum Interest Rate means the minimum interest rate that will be credited to the contract value. This rate will never be less than zero (0%). Comment from the Oregon Division of Financial Regulation: The proposed standard allows for a guaranteed minimum interest rate of 0% rather than greater than 0. Insurance Compact Office comment: During development of the draft, group annuity writers indicated that a guaranteed minimum interest rate of 0% is needed and is approved by states in current filings. Insurance Compact Office update following the 6/18/19 PSC member call: It was noted that during development of the draft, group annuity writers indicated that a guaranteed minimum interest rate of 0% is needed and is approved by states in current filings. PSC members were asked if any states had requirements for greater than 0% and no member responded affirmatively. More information regarding the underlying basis for the requested minimum will be solicited from interested parties. In speaking with the group annuity insurers, they noted that they believe this is an Oregon specific issue. They noted that requirements above 0% are generally due to nonforfeiture laws and retirement plans are not subject to nonforfeiture requirements. The minimum interest rate still provides the contract benefits and guarantees the principle.
Sample 1

Examples of Guaranteed Minimum Interest Rate in a sentence

  • Any declaration will be by class and will be based solely on our expectations of future earnings, but will never be less than the Guaranteed Minimum Interest Rate shown in the Schedule.

  • Guaranteed Minimum Interest Rate - 3% Guarantee Periods We currently offer Guarantee Periods of 1, 3, 5, 7 and 10 years.

  • Both A and B cannot be less than your Guaranteed Minimum Interest Rate, except when determined using U.S. Treasury yield rates.

  • Wheeler Brenda Scotchmer Tammy Hurd-Harvey Nate AldermanChristopher Brewer Scott Sprague Kathy MullerHank Chapman Matt Sousa Lise ReynoldsLEGISLATORS:Scott J.

  • At the expiration of the period, We will declare a rate not less than the Traditional Fixed Account Guaranteed Minimum Interest Rate for a new period.

  • Purchase PaymentFixed Account Guaranteed Minimum Interest Rates and Guaranteed Minimum Indexed Interest CapsThe Fixed Account Guaranteed Minimum Interest Rate is 0.25%.

  • The Guaranteed Minimum Interest Rate is an effective annual rate of 3.0%.

  • This may be more or less than the initial Base Interest Rate but will never be less than the Guaranteed Minimum Interest Rate.

  • In no event will the interest credited be less than the Traditional Fixed Account Guaranteed Minimum Interest Rate shown on Page 3.

  • The Crediting Rates for each DCA MVA Option we make available will never be less than the Guaranteed Minimum Interest Rate shown in the MVA Option Schedule Supplement, made a part of your Annuity.


More Definitions of Guaranteed Minimum Interest Rate

Guaranteed Minimum Interest Rate. [1.00% for the calendar year of issue] Minimum DCA Transfer Amounts: Monthly [$25] Quarterly [$75] Semi-Annual [$100] Annual [$300] Maximum Transfer Limit: [12 per Contract Year, from any account] GIA Transfer Limit: [12 transfers per Contract Year]
Sample 1
Guaranteed Minimum Interest Rate. The Guaranteed Minimum Interest Rate is the lowest Guaranteed Interest Rate we will declare for a Renewal Guarantee Period at any time while this Contract is in effect. The Guaranteed Minimum Interest Rate is disclosed on your Schedule Page and is guaranteed for the life of the Contract.
Sample 1
Guaranteed Minimum Interest Rate. (For the Interest Rate Guarantee Periods) Interest rates credited to the interest rate guarantee periods of the guaranteed interest account are guaranteed never to be less than the guaranteed minimum interest rate. The guaranteed minimum interest rate (for the interest rate guarantee periods) is shown on the schedule page. Taxes Some states charge a premium tax. We will deduct premium taxes if we must pay them. This may occur, for example, at the time when you pay a premium, surrender the policy, make a full or partial withdrawal, when the policy reaches the maturity date, or when a death benefit is paid. No charges are currently imposed for Federal, state, or local taxes other than state premium taxes. However, we reserve the right to deduct charges in the future for such taxes that are attributable to this policy. Transfers During the accumulation period, you may transfer the accumulation value among variable sub-accounts of the separate account and the interest rate guarantee periods of the guaranteed interest account. However, there may be restrictions on transfers from the interest rate guaranteed periods, see your schedule page for any limitations. During the annuity period, if you have chosen a variable annuity payment option, you may transfer the separate account value among the various variable sub-accounts, or to a fixed payment option. However, values are not permitted to be transferred from a fixed payment option. There are no limits on the number of transfers allowed. However, a transfer fee may be deducted from the accumulation value after you make 12 transfers in a policy year. The transfer fee may be applied to each transfer made. All transfers are subject to minimum amounts. Transfers from the guaranteed interest account may be subject to a MVA. Cash Surrender Value The cash surrender value before annuity payments begin equals:
Sample 1

Related to Guaranteed Minimum Interest Rate

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.

  • Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • LIBOR Interest Rate means, for any LIBOR Loan, a rate per annum determined by Administrative Agent to be equal to the quotient of (1) the LIBOR Base Rate for such LIBOR Loan for the Interest Period therefor divided by (2) one minus the LIBOR Reserve Requirement for such LIBOR Loan for such Interest Period.

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • Daily Interest Rate means an amount calculated by dividing the interest rate payable to a Lender on a Loan (as set forth in subsection 2.2) as of each calendar day by three hundred sixty (360).

  • 5-year Mid-Swap Rate means, in relation to a Reset Interest Period and the Reset Rate of Interest Determination Date in relation to such Reset Interest Period:

  • 5 year Swap Rate means, in respect of any Reset Period, the mid-swap rate as displayed on Reuters screen “ICESWAP2/EURSFIXA” or, if such rate is not displayed on such screen as at the relevant time, the mid-swap rate as displayed on a successor page (in each case, the “Reset Screen Page”) as at 11:00a.m. (Central European time) on the relevant Reset Interest Determination Date.Subject to the operation of Condition 4(d), in the event that the relevant 5 year Swap Rate does not appear on the Reset Screen Page on the relevant Reset Interest Determination Date, the 5 year Swap Rate will be the Reset Reference Bank Rate on such Reset Interest Determination Date. “Reset Reference Bank Rate” means the percentage rate determined by the Agent Bank on the basis of the 5 year Swap Rate Quotations provided by five leading swap dealers in the interbank market selected by the Issuer (the “Reset Reference Banks”) to the Agent Bank at approximately 11:00 a.m. (Central European time) on the relevant Reset Interest Determination Date. If (a) at least three quotations are provided, the 5 year Swap Rate will be determined by the Agent Bank on the basis of the arithmetic mean (or, if only three quotations are provided, the median) of the quotations provided, eliminating the highest quotation (or, in the event of equality one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest); (b) if only two quotations are provided, the Reset Reference Bank Rate will be the arithmetic mean of the quotations provided; (c) if only one quotation is provided, the Reset Reference Bank Rate will be the quotation provided; and (d) if no quotations are provided, the Reset Reference Bank Rate for the relevant period will be equal to the last observable 5 year mid-swap rate for euro swap transactions on the Reset Screen Page, as determined by the Agent Bank.The “5 year Swap Rate Quotations” means, in relation to any Reset Period, the arithmetic mean of the bid and offered rates for the annual fixed leg (calculated on a 30/360 Day Count basis) of a fixed-for- floating euro interest rate swap which (i) has a term of five years commencing on the relevant Reset Date, (ii) is in an amount that is representative of a single transaction in the relevant market at the relevant time with an acknowledged dealer of good credit in the swap market, and (iii) has a floating leg based on the six-month EURIBOR rate (calculated on the basis of the actual number of days elapsed and a year of 360 days)(d) Benchmark Replacement

  • Adjusted Interest Rate is defined in Section 1.2(e).

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 7.0%.

  • Floating Interest Rate means the variable annual interest rate calculated for each Interest Adjustment Period so as to equal the Index Rate for such Interest Adjustment Period (truncated at the 5th decimal place if necessary) plus the Margin. However, in no event will the Floating Interest Rate exceed the Capped Interest Rate.

  • Revolving Interest Rate means, with respect to Revolving Advances, an interest rate per annum equal to (a) the lesser of (i) the sum of the Alternate Base Rate plus the Applicable Revolving Domestic Rate Margin and (ii) the Maximum Rate, with respect to Domestic Rate Loans, and (b) the lesser of (i) the sum of the Eurodollar Rate plus the Applicable Revolving Eurodollar Rate Margin and (ii) the Maximum Rate, with respect to the Eurodollar Rate Loans.

  • Minimum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased on any Adjustment Date.

  • Weighted Average Net Mortgage Interest Rate As to any Distribution Date, a rate per annum equal to the average, expressed as a percentage of the Net Mortgage Interest Rates of all Mortgage Loans that were Outstanding Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date, weighted on the basis of the respective Scheduled Principal Balances of such Mortgage Loans.

  • Reserve Interest Rate With respect to any Interest Determination Date, the rate per annum that the Trustee determines to be either (i) the arithmetic mean (rounded upwards if necessary to the nearest whole multiple of 1/16%) of the one-month U.S. dollar lending rates which New York City banks selected by the Trustee are quoting on the relevant Interest Determination Date to the principal London offices of leading banks in the London interbank market or (ii) in the event that the Trustee can determine no such arithmetic mean, the lowest one-month U.S. dollar lending rate which New York City banks selected by the Trustee are quoting on such Interest Determination Date to leading European banks.

  • Mid-Swap Rate means, in relation to a Reset Determination Date and subject to Condition 3(b)(ii), either:

  • PIK Interest Rate means (a) in respect of any Interest Period, the Additional Tax Payer Protection Rate plus (b) in respect of any Interest Period ending on or prior to the first anniversary of the date hereof, the Adjusted LIBO Rate plus the Applicable Rate.

  • Base Interest Rate means Bank's initial cost of funding the Fixed Obligations. The Prepayment Fee is calculated as follows: First, Bank determines a "Current Market Rate" based on what the Bank would receive if it loaned the remaining amount on the prepayment date in a wholesale funding market matching maturity, remaining principal and interest amounts and principal and interest payment dates (the aggregate payments received are the "Current Market Rate Amount"). Bank may select any wholesale funding market rate as the Current Market Rate. Second, Bank will take the prepayment amount and calculate the present value of each remaining principal and interest payment which, without prepayment, the Bank would have received during the term of the Fixed Obligations using the Base Interest Rate. The sum of the present value calculations is the "Xxxx to Market Amount." Third, the Bank will subtract the Current Market Rate Amount from the Xxxx to Market Amount. Any amount greater than zero is the Prepayment Fee.

  • Interest Rate Cap means a Cap.

  • Fixed Interest Rate means the annual interest rate of five and forty hundredths percent (5.40%).

  • Applicable Interest Rate means (i) with respect to any Fixed Rate Indebtedness, the fixed interest rate applicable to such Fixed Rate Indebtedness at the time in question, and (ii) with respect to any Floating Rate Indebtedness, either (x) the rate at which the interest rate applicable to such Floating Rate Indebtedness is actually capped (or fixed pursuant to an interest rate hedging device), at the time of calculation, if Borrower has entered into an interest rate cap agreement or other interest rate hedging device with respect thereto or (y) if Borrower has not entered into an interest rate cap agreement or other interest rate hedging device with respect to such Floating Rate Indebtedness, the greater of (A) the rate at which the interest rate applicable to such Floating Rate Indebtedness could be fixed for the remaining term of such Floating Rate Indebtedness, at the time of calculation, by Borrower’s entering into any unsecured interest rate hedging device either not requiring an upfront payment or if requiring an upfront payment, such upfront payment shall be amortized over the term of such device and included in the calculation of the interest rate (or, if such rate is incapable of being fixed by entering into an unsecured interest rate hedging device at the time of calculation, a fixed rate equivalent reasonably determined by Administrative Agent) or (B) the floating rate applicable to such Floating Rate Indebtedness at the time in question.

  • Minimum Mortgage Rate With respect to each Adjustable-Rate Mortgage Loan, the percentage set forth in the related Mortgage Note as the minimum Mortgage Rate thereunder.

  • Lower-Tier Interest Rate As described in the Preliminary Statement.

  • Maximum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the maximum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be increased on any Adjustment Date.

  • Cash Interest Rate means the Federal Funds Effective Rate - the rate for that day opposite the caption “Federal Funds (Effective)” as set forth in the weekly statistical release designated as H.15 (519), or any successor publication, published by the Board of Governors of the Federal Reserve System.