Interest Charged. If You Do Not Pay Your Minimum Payment Due If you do not pay your Minimum Payment Due by the Closing Date of the billing period in which it is due, we will apply the Penalty APR to the entire balance, including the Amount Above the Credit Limit, if any, and any balance transfer (see How we calculate interest below). We also may apply the Penalty APR for other reasons (see Penalty APR and when it applies on page 2 of Part 1). If you do not pay the Minimum Payment Due on a statement by the Closing Date of the billing period in which it is due and then you pay the Minimum Payment Due on a subsequent statement by the Closing Date of the billing period in which it is due, we will not charge interest on the Amount Above the Credit Limit for the billing period for which you paid the Minimum Payment Due by the Closing Date in which it is due. However, the Penalty APR will continue to apply to other balances (including any balance transfer) in accordance with Penalty APR and when it applies on page 2 of Part 1).
Interest Charged. If You Do Not Pay Your Minimum Payment Due If you do not pay your Minimum Payment Due by the Closing Date of the billing period in which it is due, we will apply the Penalty APR to the entire balance, including the Amount Above the Credit Limit, if any (see How we calculate interest below). We also may apply the Penalty APR for other reasons (see Penalty APR and when it applies on page 2 of Part 1). If you do not pay the Minimum Payment Due on a statement by the Closing Date of the billing period in which it is due and then you pay the Minimum Payment Due on a subsequent statement by the Closing Date of the billing period in which it is due, we will not charge interest on the Amount Above the Credit Limit for the billing period for which you paid the Minimum Payment Due by the Closing Date in which it is due. How we calculate interest We calculate interest for a billing period by first calculating interest on each balance. Different categories of transactions--such as purchases and balance transfers--may have different interest rates. Balances within each category may also have different interest rates. We use the Average Daily Balance method (including new transactions) to calculate interest charges for each balance. The total interest charged for a billing period is the sum of the interest charged on each balance.
Interest Charged. Interest charges owing on any cash deficit in one or more currencies held within the Account are calculated and payable monthly, in the same currency or currencies that is or are in deficit, based on an annual interest rate (divided by 365, or 366 in a leap year) and the average daily cash deficit or deficits during the calculation period. Any unpaid interest will be included in the calculation of the daily average cash deficit for the applicable currency. The rate of interest payable on the cash deficit will be determined by the Agent from time to time in its sole discretion. The rate of interest and method of calculation is available upon request to the Agent and will be the rate shown on the Holder's statement in respect of the Account.
Interest Charged. The Ministry may charge the Practice Group interest on any amount owing by the Practice Group at the then current interest rate charged by the Province of Ontario on accounts receivable from the time of the request.
Interest Charged. Interest is charged at the annual rate determined by the Bank. The Bank may vary the rate of interest from time to time. The Bank will charge interest on billed interest but not on service fees and other charges, except foreign currency fees. The amount of interest charged on the Account Statement is calculated as follows: – The amount owed each day is added, and then divided by the number of days in the statement period. This is the average daily balance. – The average daily balance is multiplied by the applicable daily interest rate(s) (obtained by taking the annual interest rate(s) and dividing it by the number of days in the year). This value is then multiplied by the total number of days in the statement period to determine the interest charged. When there is more than one applicable interest rate, the interest is calculated based on the average daily balances for each rate.
Interest Charged. For all contracts except the MVA Annuity and FutureLink Equity Index Annuity, the Company will process the loan with the rate in effect when paperwork is received in good order. A loan interest rate of 5.50% is currently charged for the entire term of the loan. For variable annuity contracts subject to ERISA, a loan interest rate of 8% is currently charged for the term of the loan. For the MVA Annuity, the loan interest rate will be equal to Moody’s Corporate Bond Yield Average – Monthly Average, as published by Xxxxx’x Investors Service Inc., for the calendar month ending two months before the date on which the new loan interest rate is effective. The loan interest rate will apply for one year from the loan anniversary date. Annually on the anniversary date of the loan, the rate will be adjusted only if the new rate is an increase or decrease of 0.50% or greater. Your monthly payment can change yearly based on the changes in the interest rate. You may contact us for the initial interest rate effective for your loan. For the FutureLink Equity Index Annuity, the loan interest on any borrowed amount will be determined at regular intervals at least once every twelve months, but not more frequently than once in any three-month period. The maximum loan interest rate will be equal to the greater of 4.0% or the Moody’s Corporate Bond Yield Average - Monthly Average, as published by Xxxxx’x Investors Service Inc., for the calendar month ending two months before the date on which the new loan interest rate is effective. You may contact us for the initial interest rate effective for your loan.
Interest Charged. Interest is charged at the annual rate determined by the Bank. The Bank may vary the rate of interest from time to time. The amount of interest charged on your Account Statement is calculated as follows: ¡ The amount you owe each day is added, and then divided by the number of days in the statement period. This is the average daily balance. ¡ The average daily balance is multiplied by the applicable daily interest rate(s) (obtained by taking the annual interest rate(s) and dividing it by the number of days in the year). This value is then multiplied by the total number of days in the statement period to determine the interest charged. When there is more than one applicable interest rate, your interest is calculated based on the average daily balances for each rate.
Interest Charged. For all contracts except the MVA Annuity and FutureLink Equity Index Annuity, the Company will process the loan with the rate in effect when the loan paperwork is received in good order. A loan interest rate of 5.50% is currently charged for the entire term of the loan. For variable annuity contracts subject to ERISA, a loan interest rate of 8% is currently charged for the term of the loan. For the MVA Annuity, the loan interest rate will be equal to Moody’s Corporate Bond Yield Average – Monthly Average, as published by Xxxxx’x Investors Service Inc., for the calendar month ending two months before the date on which the new loan interest rate is effective. The Company will process the loan using the rate in effect at the time the loan paperwork is received in good order. You may contact us for the interest rate effective for your loan. The loan interest rate will be in effect for the entire term of the loan. For the FutureLink Equity Index Annuity, the maximum loan interest rate will be equal to the greater of 4.0% or the Moody’s Corporate Bond Yield Average - Monthly Average, as published by Xxxxx’x Investors Service Inc., for the calendar month ending two months before the date on which the new loan interest rate is effective. The Company will process the loan using the rate in effect at the time the loan paperwork is received in good order. You may contact us for the interest rate effective for your loan. The loan interest rate will be in effect for the entire term of the loan.
Interest Charged. Fees and other charges made by OCB become due and payable in accordance with the terms within this Agreement and on demand. OCB reserves the right to charge interest on any amount outstanding twenty-eight (28) days after such fees are first demanded. The rate of interest will be 2% per annum above Barclays Bank base rate and chargeable from the date upon which the fee was due.
Interest Charged. The loan interest rate charged is 6% on an annual basis. This rate is charged for the life of the loan. Interest Earned • The loan interest rate earned is 3.5% on an annual basis. This rate is earned for the life of the loan. • This will result in a net rate of 2.5%. • Interest that you earn is credited to your account on a quarterly basis and is applied according to your current modal allocation (i.e., your current allocation of salary reduction and employer contributions under your Plan). If you do not have a current modal allocation, it is allocated among the same investment options and in the same proportion as when the loan was made. • If you make a scheduled loan repayment on or before the due date, earned interest is applied on the due date. If you make your payment during the grace period, earned interest is applied on the day after the grace period ends. • If you have a fully defaulted loan and you are eligible for a distribution, earned interest is credited on the date of default. If you have a fully defaulted loan and you are not eligible for a distribution, earned interest continues to accrue and will be credited to your account on the date you become eligible for a distribution. INVESTMENT OPTION INFORMATION Amounts used to satisfy your loan request will be withdrawn proportionately from the investment options under the Contract, unless you specify otherwise on your loan request. However, amounts may not be taken from the ING Guaranteed Accumulation Account (GAA) or the ING GET Fund (GET). Amounts withdrawn do not share in the investment experience of the options from which they were withdrawn. If the loan amount you have requested exceeds the amount held in your Contract (not including amounts held in GAA or GET), you will first need to transfer funds from GAA or GET into other investment options under your Contract. If you wish to transfer amounts out of GAA or GET, a separate Allocation Change/Transfer Request is required. Or, you may contact a Customer Service Representative at the Service Center at 000-000-0000, visit our website at xxx.xxxxxxxxxxxxxxxxxx.xxx, or call INGAccess at 000-000-0000. If the Transfer Request and Loan Agreement are received in Good Order on the same day, the Transfer Request will be processed that day and the Loan will be processed the next business day. Funds transferred from GAA prior to the end of the guaranteed term will be subject to a market value adjustment, which may be positive or negative. The amount av...
