Interest Computation Method. Interest on CDs is compounded daily on a 365-day basis using the daily balance method for the actual number of days your money is on deposit. (During leap years, we will use a 366-day basis.) Interest on CDs is computed from the business day of your deposit to, but not including, the maturity date. The daily balance method applies a daily periodic rate to the principal (plus compounded interest, if any) in the account each day. The daily periodic rate is equal to the interest rate divided by 365. Daily compounding of accrued (but not yet credited) interest is applied at the end of each day.
Interest Computation Method. Unless otherwise stated on your Application, interest on a TD is computed by the Daily Balance method. This method applies a daily periodic rate to the principal in the account each day your funds are on deposit. Interest is earned to, but not including, the maturity date or date of early withdrawal.
Interest Computation Method. Interest is compounded daily and computed on a 365-day year basis using the daily balance method. This method applies a daily periodic rate to the collected funds in the account each day.
Interest Computation Method. Interest on CDs is computed on a simple interest basis (no compounding) and on a 360-day year basis using the daily balance method. Interest on CDs is computed from the date of collection (as explained above) to, but not including, the day of maturity.
Interest Computation Method. Interest for each Loan is calculated at a rate of interest computed by the simple interest method or the actuarial method.
