How Interest is Calculated Sample Clauses

How Interest is Calculated. Interest is calculated by multiplying the total interest-bearing portions of your Balance at the end of each day by the daily interest rate applicable to each portion. the daily interest rate is the annual interest rate divided by the number of days in the year. Interest is calculated daily and added to your Balance monthly. We do not charge interest on interest.
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How Interest is Calculated. All rates of interest under the mortgage (including compound interest) apply both before and after demand, maturity, default or judgment. Where a rate is plus or minus a percentage, the added or deducted percentage is a percentage of principal, not a percentage of the rate. Interest must be calculated (or compounded) in the manner agreed, and the section headed Compound interest below does not impair our right to that. For example, if you need not pay interest at or before the end of a period over which interest is calculated (or payments that you are to make for interest do not cover all the interest that accrues), you are liable for interest on the interest (or the shortfall) at the same rate and calculated in the same way as interest on principal, and for interest on that interest, and so on. Where the mortgage does not set the date for the end of the period, we may choose the date, having regard to any other dates for payments under the mortgage.
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How Interest is Calculated. We calculate interest on a 365-day year basis using the daily balance method, by which the daily periodic rate is applied each day to the collected funds balance in the account after all transactions for the day have been posted. For all interest-bearing checking and money market accounts: ▪ Funds from items deposited (other than cash or items drawn on us) begin to accrue interest on the Business Day we receive credit for the items (collected funds). Cash and funds from items drawn on us begin to accrue interest on the Business Day of deposit. ▪ Interest accrues daily and is compounded and credited on the last day of the statement period, but no more frequently than monthly. For all savings accounts: ▪ Funds from items deposited begin to accrue interest on the Business Day of deposit if deposited before our established cut-off time or, if made later, on the next Business Day. ▪ Interest accrues and compounds daily and is credited on the last day of the statement period, but no more frequently than monthly. CERTIFICATES OF DEPOSIT‌‌
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How Interest is Calculated. We calculate interest on a 365-day year basis (or for hybrid accounts, on a 365/366-day year basis) using the daily balance method, by which the daily periodic rate is applied each day to the collected funds balance in the account after all transactions for the day have been posted. For all interest-bearing checking and money market accounts (excluding hybrid accounts). Funds from items deposited (other than cash or items drawn on us) begin to accrue interest on the Business Day we receive credit for the items (collected funds). Cash and funds from items drawn on us begin to accrue interest on the Business Day of deposit. Interest accrues daily and is compounded and credited on the last day of the statement period, but no more frequently than monthly. For hybrid interest-bearing checking accounts. The balance (if any) in excess of the balance required for the earnings credit allowance to cover the monthly fees will be eligible to accrue interest. Interest is calculated and credited on a monthly basis after account analysis for such account is finalized. For all savings accounts. Funds from items deposited begin to accrue interest on the Business Day of deposit if deposited before the established cut-off time or, if made later, on the next Business Day. Interest accrues and compounds daily and is credited on the last day of the statement period, but no more frequently than monthly. CERTIFICATES OF DEPOSIT‌‌
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How Interest is Calculated. We calculate interest on a 365-day year basis (360-day basis for Public Funds Certificates), using the daily balance method, by which the daily periodic rate is applied each day to the principal in the account. Interest begins to accrue on funds deposited on the Business Day of deposit if deposited before our established cut-off time or, if made later, on the next Business Day.
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How Interest is Calculated. Your interest rate We use a daily rate to calculate the interest on the balance of your account each day. The daily rate is the applicable Annual Percentage Rates (APRs) divided by 365. If approved, the APR applicable to your account will be provided to you in the Rates and Fees Table. Your APR will also be shown on your monthly statement as well as in the credit card management section of the app. Your APRs may vary with the Prime Rate. We calculate variable rates by adding a percentage to the Prime Rate published in The Wall Street Journal. The Prime Rate for each Billing Cycle is the Prime Rate published in The Wall Street Journal on the closing date of the Billing Cycle. The Wall Street Journal may not publish the Prime Rate on that day. If it does not, we will use the Prime Rate from the previous day it was published. If the Prime Rate increases, variable APRs will increase. In that case, you may pay more interest and may have a higher minimum payment due. When the Prime Rate changes, the resulting changes to variable APRs take effect as of the first day of the Billing Cycle. Introductory Rates Your account may be eligible for introductory rates. If applicable, the introductory rates will be provided to you in the Rates and Fees Table. After any introductory rates expire, the remaining balances will be subject to the applicable APR provided in the Rates and Fees Table. How and when we charge interest Interest accrues based on a Daily Balance (defined below). All purchases are calculated into the Daily Balance on the transaction posting date. If any portion of a purchase is repaid during the Grace Period you will not incur the accrued interest if a Grace Period applies as set forth below. Also interest will accrue and be incurred on interest which means interest is compounded monthly on the statement date. All new purchases (but not cash advances) are subject to a Grace Period of at least 28 days if such purchases are made during a Billing Cycle (the “current Billing Cycle”) in which you paid the balances of purchases outstanding at the end of the preceding Billing Cycle, on or before the Payment Due Date of the current Billing Cycle. If the new purchases made in the current Billing Cycle are subject to a Grace Period, you will not incur interest on such new purchases if you pay the balance of such purchases in full by the Payment Due Date in the following Billing Cycle. In order for new purchases in the current Billing Cycle to qualify for the Grace P...
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How Interest is Calculated. We use the Average Daily Balance method (including new transactions) to calculate interest on your Account. The Average Daily Balances for Purchases and Xxxx Advances are calculated separately. To calculate the Average Daily Balances, we start with the beginning balance for each day in the Billing Cycle. For Purchases, the beginning balance includes billed but unpaid interest on Purchases, Annual Fees (including Additional Card Fees), Late Payment Fees, Returned Payment Fees, Over Limit Fees, Copying Charges, Currency Conversion Charges related to Purchases, Phone Payment Fees, Replacement Card Fees, the Account Set-Up Fee and Fees for Other Services. For Cash Advances, the beginning balance includes billed but unpaid interest on Cash Advances, Cash Advance Transaction Fees and Currency Conversion Charges related to Cash Advances. We then add any new charges and subtract any payments or credits. This gives us the daily balance for each day, except that if the daily balance is negative, we treat it as that balance times the applicable DPR times the number of days in the Billing Cycle. The results are then added together to determine the total interest charge for the Billing Cycle. To the extent interest comprises any part of your Average Daily Balance, compounding of interest will occur. Charges are added as of the date of the transaction. If a transaction occurs in one Billing Cycle but is not posted to your Account until the next Billing Cycle, the transaction is added or subtracted on the first day of the Billing Cycle in which the transaction is posted to your Account. If the DPR for Purchases or Cash Advances changes during a Billing Cycle, the new DPR will take effect as of the first day of the Billing Cycle.
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How Interest is Calculated. If the Base Rate specified on the face hereof is EURIBOR, upon the request of the Holder of this Note, the Calculation Agent will provide the interest rate then in effect and, if determined, the interest rate that will become effective on the next Interest Reset Date for this Note. Upon the request of the Holder of this Note if the Base Rate specified on the face hereof is Compounded SOFR, the Calculation Agent will provide Compounded SOFR, the interest rate and the amount of interest accrued with respect to any Interest Period for this Note, after Compounded SOFR and such interest rate and accrued interest have been determined. The amount of accrued interest on a Note for an Interest Period is calculated by multiplying the principal amount of this Note by an accrued interest factor. This accrued interest factor will be determined by multiplying the per annum floating interest rate determined by reference to the applicable Base Rate, as determined for the applicable Interest Period, by a factor resulting from the Day Count Convention that applies with respect to such determination. The factor resulting from the Day Count Convention will be, if so specified on the face hereof, one of the following, or may be any other convention specified on the face hereof: • a factor based on a 360-day year of twelve 30-day months if the Day Count Convention specified on the face hereof is “30/360”; • a factor equal to the actual number of days in the relevant period divided by 360 if the Day Count Convention specified on the face hereof is “Actual/360”; • a factor equal to the actual number of days in the relevant period divided by 365, or if any portion of that relevant period falls in a leap year, the sum of (A) the actual number of days in that portion of the relevant period falling in a leap year divided by 366 and (B) the actual number of days in that portion of the relevant period falling in a non-leap year divided by 365, if the Day Count Convention specified on the face hereof is “Actual/Actual”; or • a factor equal to the actual number of days in the relevant period divided by 365, if the Day Count Convention specified on the face hereof is “Actual/365 (Fixed).” If no Day Count Convention is specified on the face hereof, the factor for a note for which the Base Rate specified on the face hereof is EURIBOR or Compounded SOFR will be equal to the actual number of days in the relevant period divided by 360. All calculations with respect to the amount of interest pa...
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How Interest is Calculated. Interest is computed on a daily average basis on net debit balances. Each day’s debit balance is accumulated into a monthly total. The total debit balance in the period is then averaged to determine the debit balance on which interest is charged. An offsetting free credit balance in a cash account serves to reduce this total. The interest period ends on the last business day of the month, except in December which is carried through December 31. Interest is computed by multiplying the average daily debit balance by the average interest rate (1/360 of the annual interest rate) times the number of days in the interest period. If there is a change in interest rates affecting your Account during an interest period, interest at the new rate will be averaged to determine the rate of interest to be charged on your debit balance.
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Related to How Interest is Calculated

  • Interest, Funding Losses, Etc All prepayments under this Section 2.05 shall be accompanied by all accrued interest thereon, together with, in the case of any such prepayment of a Eurodollar Rate Loan on a date other than the last day of an Interest Period therefor, any amounts owing in respect of such Eurodollar Rate Loan pursuant to Section 3.05. Notwithstanding any of the other provisions of this Section 2.05, so long as no Event of Default shall have occurred and be continuing, if any prepayment of Eurodollar Rate Loans is required to be made under this Section 2.05, prior to the last day of the Interest Period therefor, in lieu of making any payment pursuant to this Section 2.05 in respect of any such Eurodollar Rate Loan prior to the last day of the Interest Period therefor, the Borrower may, in its sole discretion, deposit with the Administrative Agent the amount of any such prepayment otherwise required to be made hereunder until the last day of such Interest Period, at which time the Administrative Agent shall be authorized (without any further action by or notice to or from the Borrower or any other Loan Party) to apply such amount to the prepayment of such Loans in accordance with this Section 2.05. Such deposit shall constitute cash collateral for the Eurodollar Rate Loans to be so prepaid; provided that the Borrower may at any time direct that such deposit be applied to make the applicable payment required pursuant to this Section 2.05.

  • Interest Interest Calculations and Certain Fees (a) From and following the Closing Date, except as expressly set forth in this Agreement, the Loan and the other Obligations shall bear interest at the sum of the LIBOR Rate plus the Applicable Margin. Interest on the Loan shall be paid in arrears on the first (1st) day of each month, commencing on February 1, 2014, and on the maturity of the Loan, whether by acceleration or otherwise. Interest on all other Obligations shall be payable upon demand.

  • Interest Calculation Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year by (c) the outstanding principal balance.

  • Interest Calculations Interest shall be calculated on the basis of a 360-day year, consisting of twelve 30 calendar day periods, and shall accrue daily commencing on the Original Issue Date until payment in full of the outstanding principal, together with all accrued and unpaid interest, liquidated damages and other amounts which may become due hereunder, has been made. Interest hereunder will be paid to the Person in whose name this Note is registered on the records of the Company regarding registration and transfers of this Note (the “Note Register”).

  • Basis for calculation of periodic payments All interest and commitment fee and any other payments under any Finance Document which are of an annual or periodic nature shall accrue from day to day and shall be calculated on the basis of the actual number of days elapsed and a 360 day year.

  • Interest Rates Payments and Calculations (a) Interest Rate. -------------

  • Distributions and Interest Amount (i) Interest Rate. "

  • Interest and Interest Rates The rate or rates at which the Notes shall bear interest, the date or dates from which such interest shall accrue, the interest payment dates on which any such interest shall be payable and the regular record date for any interest payable on any interest payment date, in each case, shall be as set forth in the form of Note set forth as Exhibit A hereto.

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