Minimum Amount Due or “MAD” means the amount stated as such in the Statement.
Minimum Amount Due is a % of the Current Balance subject to a minimum amount and the Over-limit Amount (if any), which if paid by the Payment Due Date to avoid any late payment charges. Any Overdue Amounts will be included in the Minimum Amount Due.
Minimum Amount Due means such percentage of the Total Outstanding balance in the Card Account, as may be determined by the Bank from time to time, that a Cardmember is required to pay at each instance of the Billing Cycle and carry forward the balance amount for payment in the next Billing Cycle. For the purpose herein, it is clarified that the Cardmember must pay at least the amount indicated as Minimum Amount Due for each Billing Cycle and the balance amount carried forward will attract Finance Charges and the same will have to be paid by the Cardmember.
Examples of Minimum Amount Due in a sentence
If we do not receive payment of the minimum payment due shown on the monthly statement by the Payment Due Date, the unpaid Minimum Amount Due will be subject to Late Payment charge of5% of the Outstanding Minimum Payment Due.
The Cardholder may choose to pay only the Minimum Amount Due printed on the statement and such payment should be sent before the Payment Due Date, which is also printed on your statement.
The Cardholder can also choose to pay the Total Amount Due or any part of the amount above the Minimum Amount Due.
Any unpaid MAD of the previous statements, if any, shall also be included in the Minimum Amount Due.
Minimum Amount Due shall also include unpaid Minimum Amount Due of the previous statements, if any.
More Definitions of Minimum Amount Due
Minimum Amount Due. Each month you must pay a minimum amount that is calculated as follows: The new balance on the billing statement if it is less than $15.00, or two (2) percent of that portion of the new balance which does not exceed your credit limit, plus any amount past due, or $15.00 whichever is greater.
Minimum Amount Due or “MAD” means the amount mentioned in the OneCard credit card statement, which is the minimum payment a Cardmember must make by the payment due date to keep the card account in good standing;
Minimum Amount Due or “MAD” means the amount mentioned in the SBM Rupicard Credit Card statement, which is the minimum payment a Cardmember must make by the payment due date to keep the card account in good standing.
Minimum Amount Due means:
Minimum Amount Due is 5% of the Current Balance subject to a minimum of Tk.500/or such other amount as determined by the Bank from time to time, which if paid by the Payment Due Date will avoid any late payment charges.
Minimum Amount Due means the least amount I have to pay on or before the Payment Due Date to keep my account current. Minimum Amount Due computation:
Minimum Amount Due in relation to the Overdraft Facility shall mean the minimum amount payable by the Borrower which shall be calculated and payable as per clause 2.6A hereto.