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
Interest Calculation has the meaning set forth in Section 8.4.
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).
Examples of Interest Calculation in a sentence
Each Interest-bearing Note bears Interest on its Interest Calculation Amount (as at the relevant Interest Payment Date) from the Interest Commencement Date on the Interest Basis.
Interest Amounts will be payable in arrear on each Interest Payment Date and will be calculated in respect of the immediately preceding Interest Calculation Period on the basis of the Day Count Fraction.
The Calculation Agent shall calculate the interest rate on this Security in accordance with the foregoing on or before each Interest Calculation Date.
If the Interest Basis is specified as Fixed Rate, unless an Interest Amount or a formula for its calculation is specified, the Interest Rate for each Interest Calculation Period will be the rate per annum specified as such.
Principal Paying and Conversion Agent Interest Calculation Agent The Bank of New York Mellon, London Branch.
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).
Interest Calculation has the meanings set forth in Section 4.1(e).
Interest Calculation has meaning set forth in Section 11.2(c).
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;
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.
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,
Interest Calculation. Wherever interest is chargeable under this Agreement, unless otherwise specifically provided, interest will be at the specified per annum rate, calculated daily and compounded on the last day of each calendar month. The interest rate chargeable on any specific day will be the specified per annum rate divided by the number of days in the calendar year in which such day occurs.