Interest Calculation definition

Interest Calculation. If a daily balance on your Account is subject to an APR, we will charge interest on that daily balance. We use the average daily balance method (which includes new Transactions) to calculate the interest charge on your Account. If interest applies to a balance, it will start applying on the day a charge is added to that balance and continue until that balance is paid in full. We multiply each daily balance by its applicable daily periodic rates (each applicable APR divided by 365). We do this for each day in the Billing Period. This gives us the daily interest amounts. Then we add up all the daily interest amounts for all the daily balances. This gives us the total interest for the Billing Period. Your balances, and their corresponding APRs, are shown on your periodic statement. GRACE PERIOD: You will not pay any interest on Purchases if you pay the Account Balance, including any Balance Transfers, in full by the Payment Due Date shown on your periodic statement each Billing Period. We call this a grace period on Purchases. Generally you will have at least a 25-day grace period from the close of each Billing Period to pay the Account Balance without incurring additional interest. The Payment Due Date disclosed on each periodic statement provided to you is the last day of your grace period for that statement’s billing cycle. If you do not pay the Account Balance, including any Balance Transfers, in full by the Payment Due Date in a Billing Period, you will pay interest on your Purchases from the date they are posted to your Account. You also will not have a grace period on Purchases again until you pay the Account Balance in full by the Payment Due Date two
Sample 1Sample 2Sample 3
Interest Calculation has the meaning set forth in Section 8.4.
Sample 1Sample 2Sample 3
Interest Calculation. The Time Deposit Account will earn simple interest based on an Interest Rate and Annual Percentage Yield (APY) calculated using the Daily Balance Method. Interest will be paid at maturity of the Time Deposit Account. Nevertheless, we reserve the right, at our sole discretion and from time to time, to change the interest rate and Annual Percentage Yield (APY).
Sample 1Sample 2

Examples of Interest Calculation in a sentence

  • The Interest Calculation Agent will, as soon as practicable after the Relevant Time on each Interest Determination Date, determine the Interest Rate and calculate the Interest Amounts for the relevant Interest Period.

  • The Interest Calculation Agent may not resign its duties without a successor having been appointed as aforesaid.

  • The Issuer will procure that, so long as any Note remains outstanding, there shall at all times be at least four Reference Banks with offices in the Relevant Financial Centre and an Interest Calculation Agent if provision is made for them in the Constituting Instrument.

  • The determination of the Interest Rate and the calculation of the Interest Amounts by the Interest Calculation Agent shall (in the absence of manifest error) be final and binding upon all parties.

  • If the Interest Calculation Agent is unable or unwilling to act as such, the Issuer will, with the prior written consent of the Trustee, appoint the London office of a leading bank engaged in the London interbank market to act as such in its place and its determination shall be final and binding on the parties.


More Definitions of Interest Calculation

Interest Calculation. Interest payable on each payment date = ∑ (principal amount of daily loan× / %/360), the computing interval of “∑” is from the latest interest settlement date (including) to this interest settlement date of interest (excluding). The last computing interval is the neighboring latest interest settlement date (including) to this interest settlement date of interest (excluding).
Sample 1Sample 2
Interest Calculation has the meanings set forth in Section 4.1(e).
Sample 1Sample 2
Interest Calculation. Interest on each Mortgage Loan is calculated on the basis of a three hundred sixty (360) day year consisting of twelve (12) thirty (30) day months. No Mortgage Loan provides for interest payable on a simple interest basis. No Mortgage Loan provides for an increase in the related Mortgage Interest Rate upon the occurrence of a default under the terms of the related Mortgage Note;
Sample 1
Interest Calculation. Calculation of interest shall be on the basis of the actual days elapsed in a year of 360 days (or 365 or 366 days, as the case may be, in the case of ABR loans determined by reference to the Prime Rate (as defined below)) and interest shall be payable at the end of each interest period and, in any event, at least every three months.
Sample 1
Interest Calculation. If a daily balance on your Account is subject to an APR, we will charge interest on that daily balance. We use the average daily balance method (which includes new Transactions) to calculate the interest charge on your Account. If interest applies to a balance, it will start applying on the day a charge is added to that balance and continue until that balance is paid in full. We multiply each daily balance by its applicable daily periodic rates (each applicable APR divided by 365). We do this for each day in the Billing Period. This gives us the daily interest amounts. Then we add up all the daily interest amounts for all the daily balances. This gives us the total interest for the Billing Period. Your balances, and their corresponding APRs, are shown on your periodic statement. GRACE PERIOD: You will not pay any interest on Purchases if you pay the Account Balance, including any Balance Transfers,
Sample 1
Interest Calculation. The balance of the Black Account will earn simple interest on collected funds at such rate as Bank deems appropriate from time to time at its sole discretion, during any calendar month when the average daily balance of such Account is higher than the required minimum. The Bank will credit your Black Account monthly with the interest due.
Sample 1
Interest Calculation. The number of elapsed days divided by 360. INTEREST PERIOD : Three (3) months, Nestle Netting value date to Nestle Netting value date. The first Interest period will commence on the date hereof and terminate on the Nestle Netting value date occurring three months thereafter. All succeeding Interest periods will commence and terminate on a Nestle Netting value date. The last Interest period will be adapted according to the loan repayment value date.
Sample 1