Total Interest Rate definition
Examples of Total Interest Rate in a sentence
Adjusted Index Return = Lesser of Index Return or Maximum Total Interest Rate Index-Linked Interest = (Net FAO Value*** X Pro-rata Factor X Adjusted Index Return) minus GMIR credited during the contract year, where: • Net FAO Value equals FAO Value on the prior Contract Anniversary minus withdrawals during the contract year ICC09:10-1169 • Pro-rata Factor equals 1, unless there is a subsequent payment, a death benefit is payable or the contract is annuitized.
For indicative purposes only, if the Drawdown Date were today, the [Repayment Term] month Fixed Rate would be [Base Rate %] per annum{ and the Interest Rate, including the Margin, would be [Total Interest Rate %] per annum}.} Interest Payment Except as provided below, interest is payable [Interest Payment Frequency] in arrears and is due each [Interest Payment Frequency Noun] on the same date as the date of the calendar month of the first Drawdown Date.
Total Interest Rate (TIR) - The interest rate declared periodically, usually on a Contract Anniversary, that sets the maximum interest rate that will be used to determine the interest amount credited to the FAO for a Contract Year.
Adjusted Index Return = Lesser of Index Return or Maximum Total Interest Rate Index-Linked Interest = (Net FAO Value*** X Pro-rata Factor X Adjusted Index Return) minus GMIR credited during the contract year, where: • Net FAO Value equals FAO Value on the prior Contract Anniversary minus withdrawals during the contract year • Pro-rata Factor equals 1, unless there is a subsequent payment, a death benefit is payable or the contract is annuitized.
For indicative purposes only, if the Drawdown Date were today, the [Total Term] month Fixed Rate would be [Base Rate %] per annum{ and the Interest Rate, including the Margin, would be [Total Interest Rate %] per annum}.} Interest Payment Interest is payable [Interest Payment Frequency] in arrears on the anniversary of disbursal.