Accrual of Interest on Deposits Sample Clauses

Accrual of Interest on Deposits. If funds are credited to the Savings Account on or before 3:30 p.m. (CT) on a Business Day, we will consider that day to be the day of the deposit, and interest will begin accruing. However, if funds are credited to the Savings Account after 3:30 p.m. (CT), or on a weekend or federal holiday, we will consider that the deposit was made on the next Business Day and interest will start accruing on this day.
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Accrual of Interest on Deposits. Interest begins to accrue on a deposit on the business day it is received. If the deposit is received no later than the applicable cutoff time specified for the type of deposit in the "Cutoff Times" section above, we will consider that to be the day of your deposit. If the deposit is received after the specified cutoff time or on a day that is not a business day, we generally will consider the deposit received on the next business day. If you request a withdrawal or transfer from your account, the funds will be debited when we process the withdrawal or transfer and interest will not accrue or be credited to your account for that processing day on the amount of the requested withdrawal or transfer, regardless of the actual date of the transfer. See "Cutoff Times" for more information on the processing times for transfer requests.
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Accrual of Interest on Deposits. Interest begins to accrue on a deposit as of the Business Day it is considered to have been made. If the deposit is received or accepted by us on a Business Day no later than the applicable cutoff time specified for the type of deposit in the "Cutoff Times" subsection below, we will consider that Business Day to be the day of your deposit. If the deposit is received or accepted by us after the specified cutoff time or on a day that is not a Business Day, we generally will consider the deposit made on the next Business Day. If you request a withdrawal or transfer from your Account, the funds will be debited when we process the withdrawal or transfer and interest will not accrue or be credited to your Account for that processing day on the amount of the requested withdrawal or transfer, regardless of the actual date of the transfer. (See the "Cutoff Times" subsection below for more information on the processing times for transfer requests.)
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Accrual of Interest on Deposits. Interest begins to accrue on the Business Day on which the deposit into your CD is credited. Additional Deposits – Additional deposits (other than credited interest) are not permitted to be made into your CD during any term. Withdrawals and Early Withdrawal Penalty – An early withdrawal penalty will be imposed if you withdraw any funds in a CD before the maturity date. The early withdrawal penalty for a CD with a term of 12 months or less will be an amount equal to 90 days simple interest on the amount withdrawn at the current interest rate for the CD. The early withdrawal penalty for a CD with a term of more than 12 months but less than 48 months will be an amount equal to 180 days simple interest on the amount withdrawn at the current interest rate for the CD. The early withdrawal penalty for a CD with a term of 48 months or more will be an amount equal to 365 days simple interest on the amount withdrawn at the current interest rate for the CD. Depending on how early in the term and how much you withdraw, the early withdrawal penalty may be greater than the interest earned on the CD and may result in a reduction of principal. No penalty applies to the withdrawal of interest earned and credited during the current term of the CD. An early withdrawal penalty will not be imposed if your CD is a No Penalty CD. You may not make a withdrawal during the first 6 calendar days following the date your No Penalty CD is funded. If you choose to make an early withdrawal from your No Penalty CD, you must withdraw the full balance, including accrued interest. An early withdrawal without penalty may also generally be permitted in the following circumstances: • In the event of death or the adjudication of incompetence of an owner; • Within the Grace Period described below; • For IRA CD account holders, if the early withdrawal is made to satisfy an IRS-required minimum distribution; or • For IRAs established under 26 USC §408 and the money is paid within 7 days of establishment of the IRA (but we will assess a penalty equal to the simple interest earned on the amount withdrawn).
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Accrual of Interest on Deposits. Interest begins to accrue on a deposit as of the Business Dayit is considered to have been made. If the deposit is received or accepted by us on a Business Day no later than the applicable cutoff time specified for the type of deposit in the "Cutoff Times" subsection below, we will consider that Business Day to be the day of your deposit. If the deposit is received or accepted by us after the specified cutoff time or on a day that is not a Business Day, we generally will consider the deposit made on the next Business Day. If you request a withdrawal or transfer from your Account, the funds will be debited when we process the withdrawal or transfer and interest will not accrue or be credited to your Account for that processing day on the amount of the requested withdrawal or transfer, regardless of the actual date of the transfer. (See the "Cutoff Times" subsection below for more information on the processing times for transfer requests.) Compounding and Crediting of Interest Interest will be compounded and credited to your Account monthly on the last day of your monthly statement period. If the Account is closed before monthly interest is credited, interest accrued during the calendar month in which the Account is closed will be credited or paid to you through the day prior to your Account closure.
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Accrual of Interest on Deposits. Interest in your Account will begin to accrue on the Business Day the deposit is received. Interest accrues based upon the account balance every calendar day at 4:00 PM ET. If your deposit is received on or before 4:00 PM ET, it will begin to accrue interest on that calendar day. If your deposit is received after 4:00 PM ET, it will begin to accrue interest on the next calendar day.
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Related to Accrual of Interest on Deposits

  • Interest on Deposits Any interest earned on cash deposits will be credited to CLEC in the amount actually earned or at the rate set forth in Section 8.7 below, whichever is lower, except as otherwise required by law, provided that, for elimination of doubt, the Parties agree that such deposits are not subject to state laws or regulations relating to consumer or End User Customer cash deposits. Cash deposits and accrued interest, if applicable, will be credited to CLEC's account or refunded, as appropriate, upon the earlier of the expiration of the term of this Agreement or the establishment of satisfactory credit with Qwest, which will generally be one full year of consecutive timely payments of undisputed amounts in full by CLEC. Upon a material change in financial standing, CLEC may request, and Qwest will consider, a recalculation of the deposit. The fact that a deposit has been made does not relieve CLEC from any requirements of this Agreement.

  • Interest on Delinquent Payments Without waiving any other right or action available to Authority, in the event of default of Company's payment of Rents or other charges hereunder, and in the event Company is delinquent in paying to Authority any Rents or other charges for a period of five (5) days after the payment is due, Authority reserves the right to charge Company interest thereon from the date the Rents or other charges became due to the date of payment at one and one-half percent (1.5%) per month, to the maximum extent permitted by Applicable Law.

  • Interest on Deposit Liabilities The Assuming Institution agrees that, from and after Bank Closing, it will accrue and pay interest on Deposit liabilities assumed pursuant to Section 2.1 at a rate(s) it shall determine; provided, that for non-transaction Deposit liabilities such rate(s) shall not be less than the lowest rate offered by the Assuming Institution to its depositors for non-transaction deposit accounts. The Assuming Institution shall permit each depositor to withdraw, without penalty for early withdrawal, all or any portion of such depositor's Deposit, whether or not the Assuming Institution elects to pay interest in accordance with any deposit agreement formerly existing between the Failed Bank and such depositor; and further provided, that if such Deposit has been pledged to secure an obligation of the depositor or other party, any withdrawal thereof shall be subject to the terms of the agreement governing such pledge. The Assuming Institution shall give notice to such depositors as provided in Section 5.3 of the rate(s) of interest which it has determined to pay and of such withdrawal rights.

  • Accrual of interest Each Note (or in the case of the redemption of part only of a Note, that part only of such Note) will cease to bear interest (if any) from the date for its redemption unless payment of principal is improperly withheld or refused. In such event, interest will continue to accrue until whichever is the earlier of:

  • Interest on Fixed Rate Notes Each Fixed Rate Note bears interest from (and including) the Interest Commencement Date at the rate(s) per annum equal to the Rate(s) of Interest. Interest will be payable in arrear on the Interest Payment Date(s) in each year up to (and including) the Maturity Date. If the Notes are in definitive form, except as provided in the applicable Final Terms, the amount of interest payable on each Interest Payment Date in respect of the Fixed Interest Period ending on (but excluding) such date will amount to the Fixed Coupon Amount. Payments of interest on any Interest Payment Date will, if so specified in the applicable Final Terms, amount to the Broken Amount so specified. As used in the Conditions, Fixed Interest Period means the period from (and including) an Interest Payment Date (or the Interest Commencement Date) to (but excluding) the next (or first) Interest Payment Date. Except in the case of Notes in definitive form where an applicable Fixed Coupon Amount or Broken Amount is specified in the applicable Final Terms, interest shall be calculated in respect of any period by applying the Rate of Interest to:

  • Interest on Floating Rate Notes (a) Interest Payment Dates Each Floating Rate Note bears interest from (and including) the Interest Commencement Date and such interest will be payable in arrear on either:

  • INTEREST ON ARREARS Any interest instalment unpaid on maturity shall yield interest, of right and without formal notice, at the same rate as applicable to the portion of the loan whose interest is unpaid on maturity, such interest being payable to the Lender on request.

  • Interest on Loans (a) Except as otherwise set forth herein, each Class of Loan shall bear interest on the unpaid principal amount thereof from the date made through repayment (whether by acceleration or otherwise) thereof as follows:

  • Interest on Late Payments a. State Agencies The payment of interest on certain payments due and owed by Agency may be made in accordance with Article 11-A of the State Finance Law (SFL §179-d et. Seq.) and Title 2 of the New York Code of Rules and Regulations, Part 18 (Implementation of Prompt Payment Legislation -2 NYCRR §18.1 et seq.).

  • Interest on security deposits Where you have paid a security deposit, we must pay you interest on the security deposit at a rate and on terms required by the Rules.

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