Interest on Your Funds Sample Clauses

Interest on Your Funds. Except as noted below, interest-bearing accounts earn interest on the daily collected balance. Except as stated below for fixed rate and adjustable rate certificates of deposit, interest-bearing accounts earn interest at a variable interest rate and annual percentage yield set by FSB from time to time. In its discretion and at any time, FSB may change the basis for payment of interest or the annual percentage yield, or may discontinue the payment of interest. FSB may set maximum account balances upon which interest will be paid, and set minimum account daily balances or average daily balances below which FSB will not pay interest. When you convert your account to another type of account or if your account is closed, any accrued interest will be posted to your account or included in your closing balance.
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Interest on Your Funds. Interest begins to accrue on the business day USB receives your deposit at USB’s office in Las Vegas, Nevada, or at such other processing center as USB may use. Interest is calculated on a monthly basis. If interest is reinvested, it will be credited and compounded on a monthly basis. USB uses the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the balance in the account for each day. For fixed rate certificates, the interest rate will not change throughout the term of your certificate. For adjustable rate certificates, the interest rate remains in effect for the term of your certificate unless you exercise your one-time option to adjust the rate. After you exercise your one-time option to adjust the rate, the interest rate will be equal to the current rate for a new adjustable rate CD for the same term. See the Account Schedule for the maximum interest rate increase over your original rate. Processing Transactions – Deposits Deposits are not accepted by USB until received at USB’s office in Las Vegas, Nevada, or at such other processing center as USB may use. Transactions are not completed until USB completes its processing of them at its office in Las Vegas, Nevada, or such other processing center as USB may use, even though USB may provide you with provisional credit.
Sample 1
Interest on Your Funds. ‌ You may obtain current rates by calling us at the number for Customer Service on your statement or emailing us at xxxxxxx@xxxx.xxxx. Money Market Accounts‌ Funds in a Money Market Account earn a variable rate. Your interest rate and annual percentage yield may change. Interest rates are set at the discretion of xxxx.xxxx. At our discretion, we may change your interest rate and annual percentage yield at any time. We compound interest daily and credit interest monthly. Interest is accrued daily and is posted monthly in the Bank’s nightly processing order. We use the daily balance method to calculate the interest on your account. The daily rate is 1/365-or in a leap year, we may use 1/366-of the interest rate. For interest-bearing Money Market Accounts, this method applies a daily rate to the collected balance in the account each day. The rate we pay on some accounts depends on the tier into which the balance in your account falls following nightly processing and after all that day’s transactions have posted but before any service charges are deducted and any interest is paid. Rate tiers are updated the next business day following nightly processing. A tier is a range of account balances. We may change the tiers that apply to an account at any time without notice. Different tiers may apply to different types of accounts. Different rates may apply to different tiers. Interest-Bearing Money Market Accounts: Funds from items deposited other than cash or checks drawn on the Bank begin to accrue interest on the business day that the Bank receives credit for the items. Cash and funds from items drawn on the Bank begin to accrue interest on the business date of deposit. If the account is closed before interest is credited, you will not receive the accrued interest. Balance Information‌ For some accounts, you can avoid a monthly maintenance fee for each statement cycle during which you maintain the minimum required balance for one of the balances listed for your account below. Balance requirements generally vary for different types of accounts and may include the following: • Ledger balance is the beginning balance in the account each day. • Collected Balance is the ledger balance for the account minus that portion of the funds deposited for which we have not received credit based on the availability schedule we apply to the account. • Minimum daily balance is the lowest end-of-day balance in the account during a statement cycle. The end-of-day balance is the amou...
Sample 1

Related to Interest on Your Funds

  • 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 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 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 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 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 Overdue Payments (a) If, for any reason, a Party does not pay an amount payable under or in connection with this Agreement on or before the due date for payment, it must pay interest to the other Party (who is entitled to receive the payment).

  • Interest on Unpaid Balances Interest on any unpaid amount (including amounts placed in escrow) shall be calculated in accordance with the method specified for interest on refunds in the Commission’s regulations at 18 C.F.R. § 35.19a (a)(2)(iii). Interest on unpaid amounts shall be calculated from the due date of the xxxx to the date of payment. Invoices shall be considered as having been paid on the date of receipt of payment.

  • Interest on late payment Subject to clause 9.7, the Trader or the Distributor (as the case may be) must pay any Tax Invoice issued under this clause 9. If any part of a Tax Invoice that is properly due in accordance with this Agreement is not paid by the due date, Default Interest may be charged on the outstanding amount for the period that the Tax Invoice remains unpaid.

  • 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.

  • Interest on Overdue Amounts 22.1 Any Licence Fee which is payable and remains unpaid for a period in excess of 30 (thirty) days from the date of the invoice, will attract interest at the current legal rate, calculated in accordance with the interest rate prescribed by the Minister of Justice in accordance with the Prescribed Rate of Interest Act 55 of 1975, as amended.

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