INTEREST RATE AND ANNUAL PERCENTAGE YIELD Sample Clauses

INTEREST RATE AND ANNUAL PERCENTAGE YIELD. The interest rate and annual percentage yield for each account are the interest rate and annual percentage yield in effect on the date the account is opened or renewed, for that type of account and for the amount deposited and the term chosen. The interest rate and annual percentage yield are fixed as of the date the account is opened or renewed, and remain in effect until the maturity date of the initial term or any renewed term as may be the case. For accounts where interest is compounded during the term, the annual percentage yield assumes that interest will remain on deposit until the maturity date, and thus any withdrawals (including by check to you or by deposit to another account with us) will reduce earnings. For the current interest rates and annual percentage yields, refer to our current rate schedules or call us at the telephone number shown on our rate schedules during our normal business hours.
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INTEREST RATE AND ANNUAL PERCENTAGE YIELD. All savings accounts are variable-rate accounts. At our discretion, we may change the interest rates and annual percentage yields on the accounts (including your account) at any time, and as many times after the accounts (including your account) are opened, without giving you any prior notice. The initial interest rate and annual percentage yield for each account are the interest rate and annual percentage yield in effect on the date the account is opened, for that type of account and for the amount deposited. The annual percentage yield measures the total amount of interest paid on an account based on the initial interest rate in effect when the account is opened and the frequency of compounding, for a one (1) year (365-day) period. The annual percentage yield is expressed as an annualized rate and assumes that the interest rate will not change, that interest will remain on deposit, and that no other transactions (deposits or withdrawals) occur, during the first year (365-day period). Any withdrawals will reduce earnings. For the current interest rates and annual percentage yields, refer to our current rate schedule or call us at the telephone number shown on our rate schedule during our normal business hours. INTEREST CALCULATION. Interest is computed on the basis of a 365-day period. Interest is calculated daily. We use the daily balance method to calculate the interest on each account. This method applies a daily periodic rate (based on the interest rate in effect for your account for that day) to the full amount of principal in the account at the end of each day. The manner and frequency with which interest will be credited to your account and compounded depends upon the type of account selected (please refer to the addendum/disclosure for the type of account selected).
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INTEREST RATE AND ANNUAL PERCENTAGE YIELD. ‌ The current Interest Rate and Annual Percentage Yield (APY) can be found at xxxxx://xxxxxxxxx.xxx. The Interest Rate and Annual Percentage Yield is subject to change at anytime after your Account is opened without notice. No minimum balance required to open an account. Your Account balance must be at least $0.01 to earn interest. If you have any questions, please contact Customer Support at (000) 000-0000 or email us at xxxxxxx@xxxxxxxxx.xxx. How Interest is Calculated‌ Your Account balance must be at least $0.01 to earn interest. The daily balance method is used to calculate the interest on your Account. This method applies a daily periodic rate to the daily collected balance in your Account each day. Interest on deposits begins to accrue no later than the business day on which we receive credit for the deposit and interest is accrued each day for the collected balance. The collected balance is the available balance in your Account as determined by our Deposit and Funds Availability Policy. We reserve the right not to pay interest on any deposited item that is returned to us as unpaid. Accrued interest is credited to the balance in the Account on the last day of each statement cycle. Accrued interest that is credited to the balance in the Account begins to earn interest no later than the next business day and compounds monthly with each statement cycle. If you or we close your Account or convert your Account to a non-interest bearing account before the date interest, if any, is credited, you will not receive the accrued interest. Backup Withholding‌ By submitting an application for an Account, you certify under penalty of perjury that:
Sample 1
INTEREST RATE AND ANNUAL PERCENTAGE YIELD. The following interest rate and corresponding annual percentage yield table applies to your account. Fees may reduce the interest earnings on this account. Your interest rate and annual percentage yield may change. Balance Tier Interest Rate APY $0.01 to $29,999.99 0.010% 0.01% $30,000 to $49,999.99 0.020% 0.02% $50,000 to $99,999.99 0.030% 0.03% $100,000 and over 0.050% 0.05% The interest rate and APY for your account depend upon the applicable balance tier. The applicable interest rate and APY for the account will be applied to the entire balance. Determination of Rate At our discretion, we may change the interest rate on your account. Frequency of Rate Changes We may change the interest rate on your account at any time. MINIMUM BALANCE REQUIREMENTS Minimum Opening Deposit Requirement You must deposit $100.00 to open this account. To Avoid Imposition of a Maintenance Fee A Monthly Maintenance Fee (Service Charge) of $10.00 will be imposed every month if the minimum daily balance in the account falls below $2,500.00 any day of the statement cycle. Your account’s minimum daily balance is determined by the day with the lowest end-of-day ledger balance within a statement cycle. To Obtain the Annual Percentage Yield Disclosed You must maintain a minimum balance of $0.01 in the account each day to obtain the disclosed annual percentage yield. Compounding and Crediting Interest will be compounded on a monthly basis. Interest will be credited on a monthly basis.
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Related to INTEREST RATE AND ANNUAL PERCENTAGE YIELD

  • Determination of Interest Rates for the LIBOR Floating Rate Classes The Interest Rates for the LIBOR Floating Rate Classes for each Interest Accrual Period shall be determined by Xxxxxx Xxx or the Paying Agent on the Index Determination Date in the month following the month in which the Settlement Date occurs and on each Index Determination Date thereafter so long as the LIBOR Floating Rate Classes are outstanding on the basis of LIBOR and the applicable formulae specified in the Prospectus Supplement or the Lower Tier Schedule, as the case may be. For any period during which LIBOR for any LIBOR Floating Rate Class is to be determined on the basis of the “LIBO Method” (as defined in the Prospectus), until such Class is paid in full, Xxxxxx Mae shall at all times retain at least four Reference Banks (as defined in the Prospectus). The Paying Agent and Xxxxxx Xxx shall have no liability or responsibility to any Person for (i) the selection of any Reference Bank for purposes of determining LIBOR or (ii) any inability to retain at least four Reference Banks which is caused by circumstances beyond their reasonable control. In determining LIBOR, any Interest Rate for the LIBOR Floating Rate Classes or any Reserve Interest Rate (as defined in the Prospectus), Xxxxxx Mae or the Paying Agent may conclusively rely and shall be protected in relying upon the rates or offered quotations (whether written, oral or disseminated by means of an electronic information system) provided by the sources specified in the Prospectus. Neither Xxxxxx Xxx nor the Paying Agent shall have any liability or responsibility to any Person for (i) the Paying Agent’s selection of New York City banks for purposes of determining any Reserve Interest Rate or (ii) its inability, following a good-faith reasonable effort, to obtain the applicable rates or quotations or to determine the arithmetic mean of such quotations, all as provided for in the Prospectus.

  • Corresponding Class of Reference Tranches With respect to (i) the Class M-1 Notes, the Class M-1 Reference Tranche, (ii) the Class M-2 Notes, the Class M-2 Reference Tranche, (iii) the Class M-3A Notes, the Class M-3A Reference Tranche, (iv) the Class M-3B Notes, the Class M-3B Reference Tranche and (v) the Class B Notes, the Class B Reference Tranche.

  • Allocation of Senior Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Senior Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Refinancing Preparation Advance; Capitalizing Front-end Fee and Interest (a) If the Loan Agreement provides for the repayment out of the proceeds of the Loan of an advance made by the Bank or the Association (“Preparation Advance”), the Bank shall, on behalf of such Loan Party, withdraw from the Loan Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Loan Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Bank shall pay the amount so withdrawn to itself or the Association, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • Allocation of Subordinate Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Senior Reduction Amount and the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Subordinate Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Allocation of Tranche Write-down Amounts to the Reference Tranches On each Payment Date on or prior to the Termination Date, the amount, if any, of the Tranche Write- down Amount for that Payment Date will be allocated, first, to reduce any Overcollateralization Amount for such Payment Date, until such Overcollateralization Amount is reduced to zero, and, second, to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Accrual Rate Compensatory time for employees will accrue at the rate of one and one-half hours for each one hour of overtime worked.

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation.

  • Accrual Rates All eligible employees shall accrue vacation pay according to the following rates:

  • PERCENTAGE GOAL The goal for Historically Underutilized Business (HUB) participation in the work to be performed under this contract is 23.7 % of the contract amount.

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