VARIABLE RATE INFORMATION definition
VARIABLE RATE INFORMATION. The Annual Percentage Rate will vary with the market based on the Prime Rate (Index), and may increase or decrease as the Prime Rate increases or decreases. We calculate your variable rate by adding a percentage (Margin) to the U.S. Prime Rate published in The Wall Street Journal on the last business day of each month. For Credit Tier 1 applicants we add 4.00% to the Prime Rate, for Credit Tier 2 applicants we add 6.00% to the Prime Rate, and for Credit Tier 3 applicants we add 8.00% to the Prime Rate.
VARIABLE RATE INFORMATION. If any Annual Percentage Rate is variable, your rate is determined by adding the applicable Margin to the applicable Index (in some cases, the applicable Margin may be subtracted from the applicable Index). The daily periodic rate is 1/365th (1/366th during leap years) of the Annual Percentage Rate. The Schedule will show if you have a variable rate and will describe your Index and Margin. An increase in the Index will increase the applicable Annual Percentage Rate and daily periodic rate, which may increase the minimum payment due on your account.
VARIABLE RATE INFORMATION. If any Annual Percentage Rate is variable, your rate is determined by adding the applicable Margin to the applicable Index (in some cases, the applicable Margin may be subtracted from the applicable Index). The daily periodic rate is 1/365th (1/366th during leap years) of the Annual Percentage Rate. The Schedule will show if you have a variable rate and will describe your Index and Margin. An increase in the Index will increase the applicable Annual Percentage Rate and daily periodic rate, which may increase the minimum payment due on your account. The Margin used for Purchases and Balance Transfers will not increase during the life of your account unless the applicable Index becomes unavailable and we are permitted by applicable law to use a replacement Index and Margin. The Margin for Cash Advances and Special Offers may increase.
Examples of VARIABLE RATE INFORMATION in a sentence
HEALTH SAVINGS ACCOUNT TRUTH-IN-SAVINGS DISCLOSURE: VARIABLE RATE INFORMATION – The interest rate of your account will be determined by the rate in effect when funds are deposited to the account, however the interest rate and annual percentage yield may change.
SPECIFIC TERMS APPLICABLE TO YOUR SAVINGS ACCOUNT TIERED VARIABLE RATE INFORMATION.