Guaranteed Minimum Interest Rate definition

Guaranteed Minimum Interest Rate means the minimum interest rate that will be credited to the contract value. This rate will never be less than zero (0%).
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Guaranteed Minimum Interest Rate. [1.00% for the calendar year of issue] Minimum DCA Transfer Amounts: Monthly [$25] Quarterly [$75] Semi-Annual [$100] Annual [$300] Maximum Transfer Limit: [12 per Contract Year, from any account] GIA Transfer Limit: [12 transfers per Contract Year] Maximum GIA Transfer Amount [$1,000] Maximum GIA Transfer Percentage [25%] GIA Payment Limit [$250,000] Minimum Withdrawal Amount: [$100] Minimum Premium Payment: [$200] Maximum Premium Payment: [$1,000,000] Maximum Aggregate Premium Payment: [$5,000,000] Assumed Investment Rate: [4.5%] VASP-STND2 [3] NY
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Guaranteed Minimum Interest Rate means the minimum interest rate that will be credited to the contract value. This rate will never be less than zero (0%). Comment from the Oregon Division of Financial Regulation: The proposed standard allows for a guaranteed minimum interest rate of 0% rather than greater than 0. Insurance Compact Office comment: During development of the draft, group annuity writers indicated that a guaranteed minimum interest rate of 0% is needed and is approved by states in current filings. Insurance Compact Office update following the 6/18/19 PSC member call: It was noted that during development of the draft, group annuity writers indicated that a guaranteed minimum interest rate of 0% is needed and is approved by states in current filings. PSC members were asked if any states had requirements for greater than 0% and no member responded affirmatively. More information regarding the underlying basis for the requested minimum will be solicited from interested parties. In speaking with the group annuity insurers, they noted that they believe this is an Oregon specific issue. They noted that requirements above 0% are generally due to nonforfeiture laws and retirement plans are not subject to nonforfeiture requirements. The minimum interest rate still provides the contract benefits and guarantees the principle.
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Examples of Guaranteed Minimum Interest Rate in a sentence

  • Purchase PaymentFixed Account Guaranteed Minimum Interest Rates and Guaranteed Minimum Indexed Interest CapsThe Fixed Account Guaranteed Minimum Interest Rate is 0.25%.

  • Both A and B cannot be less than your Guaranteed Minimum Interest Rate, except when determined using U.S. Treasury yield rates.

  • These may be higher or lower than the initial Fixed Interest Rate but will not be lower than the Guaranteed Minimum Interest Rate.

  • Discussion with possible action concerning the Guaranteed Minimum Interest Rate options with Nationwide.

  • This may be more or less than the initial Base Interest Rate but will never be less than the Guaranteed Minimum Interest Rate.

  • If the ratio of the Market Value to Book Value falls below 90%, then the duration used for determining the interest crediting rate will be 50% of “D”.F = Separate Account Fee (comprised of the Separate Account Investment Management Fee and a Great-West Participant Book Value Guarantee Fee) (“Contract Fees”).The resulting crediting rate, after deduction of “F” but prior to any Plan fees being deducted shall not be less than the Guaranteed Minimum Interest Rate.

  • This amendment freezes all existing funds in the Fixed Account at a 3.5% Guaranteed Minimum Interest Rate (GMIR) effective July 1, 2020, moves future funds to a 1.1% crediting rate and 0% GMIR, and maintains participant liquidity at 100%.

  • The accounts are not combined when the Guaranteed Minimum Interest Rate is applied.

  • Approve and authorize the Chairman to sign Amendment Contract No. 8277 with Nationwide Retirement Solutions for the County's deferred compensation plan; approve the reduction of basis points to 12; and approve the reduction of the Guaranteed Minimum Interest Rate for fixed accounts from 3.5% to 1.5%.

  • Guaranteed Minimum Interest Rate For comparison purposes, assume that the District will maintain a balance of $100,000 in each account (see below) in your depository for a period of one year Using the bank’s minimum interest rate to percentage of that rate, please compute the total amount of interest that the District would earn in each account for that one-year period.


More Definitions of Guaranteed Minimum Interest Rate

Guaranteed Minimum Interest Rate. The Guaranteed Minimum Interest Rate is the lowest Guaranteed Interest Rate we will declare for a Renewal Guarantee Period at any time while this Contract is in effect. The Guaranteed Minimum Interest Rate is disclosed on your Schedule Page and is guaranteed for the life of the Contract.
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Guaranteed Minimum Interest Rate. (For the Interest Rate Guarantee Periods) Interest rates credited to the interest rate guarantee periods of the guaranteed interest account are guaranteed never to be less than the guaranteed minimum interest rate. The guaranteed minimum interest rate (for the interest rate guarantee periods) is shown on the schedule page. Taxes Some states charge a premium tax. We will deduct premium taxes if we must pay them. This may occur, for example, at the time when you pay a premium, surrender the policy, make a full or partial withdrawal, when the policy reaches the maturity date, or when a death benefit is paid. No charges are currently imposed for Federal, state, or local taxes other than state premium taxes. However, we reserve the right to deduct charges in the future for such taxes that are attributable to this policy. Transfers During the accumulation period, you may transfer the accumulation value among variable sub-accounts of the separate account and the interest rate guarantee periods of the guaranteed interest account. However, there may be restrictions on transfers from the interest rate guaranteed periods, see your schedule page for any limitations. During the annuity period, if you have chosen a variable annuity payment option, you may transfer the separate account value among the various variable sub-accounts, or to a fixed payment option. However, values are not permitted to be transferred from a fixed payment option. There are no limits on the number of transfers allowed. However, a transfer fee may be deducted from the accumulation value after you make 12 transfers in a policy year. The transfer fee may be applied to each transfer made. All transfers are subject to minimum amounts. Transfers from the guaranteed interest account may be subject to a MVA. Cash Surrender Value The cash surrender value before annuity payments begin equals:
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Guaranteed Minimum Interest Rate. [1.00% for the calendar year of issue] Minimum DCA Transfer Amounts: Monthly [$25] Quarterly [$75] Semi-Annual [$100] Annual [$300] Maximum Transfer Limit: [12 per Contract Year, from any account] GIA Transfer Limit: [12 transfers per Contract Year]
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Related to Guaranteed Minimum Interest Rate

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.

  • Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • LIBOR Interest Rate means the rate per year (rounded upward to the next one-sixteenth (1/16th) of one percent (0.0625%), if necessary) determined by CNB to be the quotient of (a) the LIBOR Base Rate divided by (b) one minus the Eurocurrency Reserve Requirement for the Interest Period; which is expressed by the following formula: LIBOR Base Rate

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • Daily Interest Rate means an amount calculated by dividing the interest rate payable to a Lender on a Loan (as set forth in subsection 2.2) as of each calendar day by three hundred sixty (360).

  • 5-year Mid-Swap Rate means, in relation to a Reset Interest Period and the Reset Rate of Interest Determination Date in relation to such Reset Interest Period:

  • Adjusted Interest Rate is defined in Section 1.2(e).

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 5.0%.

  • Floating Interest Rate means the variable annual interest rate calculated for each Interest Adjustment Period so as to equal the Index Rate for such Interest Adjustment Period (truncated at the 5th decimal place if necessary) plus the Margin. However, in no event will the Floating Interest Rate exceed the Capped Interest Rate.

  • Revolving Interest Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Minimum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased on any Adjustment Date.

  • Weighted Average Net Mortgage Interest Rate As to any Distribution Date, a rate per annum equal to the average, expressed as a percentage of the Net Mortgage Interest Rates of all Mortgage Loans that were Outstanding Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date, weighted on the basis of the respective Scheduled Principal Balances of such Mortgage Loans.

  • Reserve Interest Rate With respect to any Interest Determination Date, the rate per annum that the Trustee determines to be either (i) the arithmetic mean (rounded upwards if necessary to the nearest whole multiple of 1/16%) of the one-month U.S. dollar lending rates which New York City banks selected by the Trustee are quoting on the relevant Interest Determination Date to the principal London offices of leading banks in the London interbank market or (ii) in the event that the Trustee can determine no such arithmetic mean, the lowest one-month U.S. dollar lending rate which New York City banks selected by the Trustee are quoting on such Interest Determination Date to leading European banks.

  • Mid-Swap Rate means, in relation to a Reset Determination Date and subject to Condition 4(b)(ii), either:

  • PIK Interest Rate means (a) in respect of any Interest Period, the Additional Tax Payer Protection Rate plus (b) in respect of any Interest Period ending on or prior to the first anniversary of the date hereof, the Adjusted LIBO Rate plus the Applicable Rate.

  • Base Interest Rate means Bank's initial cost of funding the Fixed Obligations. The Prepayment Fee is calculated as follows: First, Bank determines a "Current Market Rate" based on what the Bank would receive if it loaned the remaining amount on the prepayment date in a wholesale funding market matching maturity, remaining principal and interest amounts and principal and interest payment dates (the aggregate payments received are the "Current Market Rate Amount"). Bank may select any wholesale funding market rate as the Current Market Rate. Second, Bank will take the prepayment amount and calculate the present value of each remaining principal and interest payment which, without prepayment, the Bank would have received during the term of the Fixed Obligations using the Base Interest Rate. The sum of the present value calculations is the "Xxxx to Market Amount." Third, the Bank will subtract the Current Market Rate Amount from the Xxxx to Market Amount. Any amount greater than zero is the Prepayment Fee.

  • Interest Rate Cap means any interest rate cap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Fixed Interest Rate means the annual interest rate of five and forty hundredths percent (5.40%).

  • Applicable Interest Rate means the rate of interest prescribed under the Act from time to time;

  • Minimum Mortgage Rate With respect to each Adjustable-Rate Mortgage Loan, the percentage set forth in the related Mortgage Note as the minimum Mortgage Rate thereunder.

  • Maximum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the maximum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be increased on any Adjustment Date.

  • Cash Interest Rate means the Federal Funds Effective Rate - the rate for that day opposite the caption “Federal Funds (Effective)” as set forth in the weekly statistical release designated as H.15 (519), or any successor publication, published by the Board of Governors of the Federal Reserve System.

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).