Simple Rate definition

Simple Rate is a variable rate comprised of two parts (1) a Personal Rate of 20.09% and (2) the prevailing Base Rate (for these purposes this is assumed to be 0.10%). • “Base Rate” means the Bank of England Rate that is regularly published by the Bank of England and may change from time to time (or, if the Bank of England Base Rate is no longer published, any replacement rate that we reasonably select as the nearest equivalent rate to apply). • Section 5 “Changes to the Base Rate” below provides more information on what happens if the Base Rate changes. • The Base Rate element of your Simple Rate will never be less than 0%. We’ll charge the same rate on any fee or other charge that applies to a particular type of transaction. For example: • If you take a cash advance of £100, a £3 fee will apply and we’ll charge interest on £103 at the cash advance rate. • If you make a transaction in US$ which (after we’ve converted it into sterling) equals £100, a fee of £2.99 will apply and we’ll charge interest on £102.99 at the same rate as for all other transactions. We won't charge interest on late payment fees or returned payment fees.
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Simple Rate means the actual rate we use to calculate how much interest we charge you. Simple annual rates are based on a 365-day year. Effective rate shows the effect of compounding the simple rate over one year. Compounding is when we add interest to your balance and then charge interest on the increased balance, including any interest already applied. Personal rate is a rate we add to Bank of England Base Rate to calculate your effective rate if your rate is linked to Base Rate. We call it a personal rate because it is based on what we know about you, including your credit status. What kinds of interest rate does your account have? Your standard interest rates (see table above) are not currently linked to the Bank of England Base Rate but may be linked to it in future. If your standard interest rates are linked to the Bank of England Base Rate, we work out the effective rate you pay by adding your personal rate to the Base Rate. For more about this, see B3. ! We may change whether your rate is linked to Bank of England Base Rate. We may also change your standard interest rates or, if your standard interest rates are linked to Base Rate, your personal interest rates. If we make such changes, we will write to you. Section A8 says more about this. If you are in persistent debt and your rates are linked to Bank of England Base Rate, your rates will automatically change from a Base Rate linked rate to a standard variable rate that is not linked to the Base Rate. For more about this, see B7.8.
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Simple Rate means the actual rate we use to calculate how much interest we charge you. Simple annual rates are based on a 365-day year. Effective rate shows the effect of compounding the simple rate over one year. Compounding is when we charge interest on your balance, including any interest we charged before. What kinds of interest rate does your account have? Your standard simple interest rates (see table above) will automatically move up and down in line with changes to the Bank of England Base Rate. If your simple rates change, your effective rates will change too. For more about this, see B3. We may also change your standard interest rates for other reasons. For more about this, see A8. ! Your standard simple interest rates are linked to the Bank of England Base Rate, so they change when the Base Rate changes. We may change whether or not your standard simple rates are linked to the Base Rate in future. We may also change your standard interest rates for other reasons. If we make such changes, we will write to you. Section A8 says more about this. ! If you are in persistent debt for 36 months (two back-to-back 18-month periods) your rates will automatically stop being linked to the Bank of England Base Rate. This means your rates will stop moving up and down in line with the Base Rate, although we may change them for other reasons. For more about this, see B7.8. If we decide to link your rates to the Base Rate once you’re no longer in persistent debt, we will write to let you know about that, and your options, at the time.
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Examples of Simple Rate in a sentence

  • This means that whenever the Base Rate changes or there is a change to your Personal Rate, the change in the Compound Rate will be a little bigger than the change in the Simple Rate.

  • Because this rate includes the payment of interest on interest, it will be greater than your Simple Rate.

  • Cllr Mulligan confirmed he’d contacted NYCC Highways regarding the ongoing flooding issue on Woodside Lane.

  • Note: To maintain the account for the customer, the remaining lines will be placed onto Frontier One or Simple Rate calling plan depending on the associated LEC.

  • Because this rate includ es the payment of interest on interest, it will be greater than your Simple Rate.

  • Residential Simple Rate Plan is available to residential customers who subscribe to this plan or who default to this plan.

  • This means that when ever the Base Rate changes or there is a change to your Personal Rate, the change in the Compound Rate will be a little bigger than the change in the Simple Rate.

  • The Simple Rate will also change in line with changes in the Base Rate.If we're changing your interest rate because the Base Rate has changed, we will tell you of this on the monthly statement before the change takes effect.

  • This means that whenever th e Base Rate changes or there is a change to your Personal Rate, the change in the Compound Rate will be a little bigger than the change in the Simple Rate.

  • UPS Simple Rate is available only for domestic Packages shipped within theU.S. 50 states with an actual weight of 50 pounds or less and a size of 1,728cubic inches or less.


More Definitions of Simple Rate

Simple Rate is a variable rate comprised of tw o parts (1) a Personal Rate of XX.XX% and (2) the prevailing Base Rate (for these purposes this is assumed to be X.XX%). • “Base Rate” means the Bank of England Rate that is regularly published by the Bank of England and may change from time to time (or, if the Bank of England Base Rate is no longer published, any replacement rate that w e reasonably select as the nearest equivalent rate to apply). • Section 5 “Changes to the Base Rate” below provides more information on w hat happens if the Base Rate changes. • The Base Rate element of your Simple Rate w ill never be less than 0% We’ll charge the same rate on any fee or other charge that applies to a particular type of transaction. For example: • If you take a cash advance of £100, a £3 fee w ill apply and w e’ll charge interest on £103 at the cash advance rate. • If you make a transaction in US$ w hich (after w e’ve converted it into sterling) equals £100, a fee of £2.99 w ill apply and w e’ll charge interest on £102.99 at the same rate as for all other transactions. We w on't charge interest on late payment fees or returned payment fees.
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Related to Simple Rate

  • Applicable Rate means a percentage per annum equal to:

  • Hurdle Rate means the minimum annual rate of return over the Net Asset Value at launch, or the beginning of the relevant Performance Period, as applicable, that must be achieved before an Equalisation Performance Fee is applied (details of which are set out in the section headed “Unit Class Information” in the Supplement for the relevant Fund where applicable). This rate is accrued at each Valuation Point.

  • Reference Rate means the rate specified as such hereon.

  • Maximum Applicable Rate with respect to APS, has the meaning set forth in Section 11.10(a)(vii) of these Bylaws.

  • Applicable Fee Rate means, at any time, the percentage rate per annum at which Commitment Fees are accruing on the unused portion of the Aggregate Commitment at such time as set forth in the Pricing Schedule.

  • Fee Rate means initially 0.25% per annum, which shall be subject to increase by 0.25% per annum for each Week in respect of which any Failure has occurred and is continuing.

  • SONIA Reference Rate means, in respect of any London Banking Day, a reference rate equal to the daily Sterling Overnight Index Average ("SONIA") rate for such London Banking Day as provided by the administrator of SONIA to authorised distributors and as then published on the Relevant Screen Page (or if the Relevant Screen Page is unavailable, as otherwise is published by such authorised distributors) on the London Banking Day immediately following such London Banking Day; and

  • Applicable Margin means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule.

  • Base Rate means, for any day, the rate per annum equal to the higher of (a) the Federal Funds Rate for such day plus one-half of one percent (0.5%) and (b) the Prime Rate for such day. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Rate shall be effective on the effective date of such change in the Prime Rate or Federal Funds Rate.

  • LIBOR Base Rate means, for each Interest Period, the London interbank offered rate for six-month deposits in Dollars for value the first day of such Interest Period (or, in the case of the initial Interest Period, for value the Interest Payment Date occurring on or next preceding the first day of such Interest Period), as reasonably determined by the Bank and expressed as a percentage per annum.

  • Unused Fee Rate means a rate equal to 0.50% per annum.

  • Expense Rate As to each Mortgage Loan, the sum of the Master Servicing Fee Rate and the Trustee Fee Rate.

  • One Month LIBOR Rate means, with respect to any interest rate calculation for a Loan or other Obligation bearing interest at the Alternate Base Rate, a rate per annum equal to the quotient (rounded upward if necessary to the nearest 1/16th of one percent (0.0625%)) of (i) the rate per annum referred to as the BBA (British Bankers Association) LIBOR RATE as reported on Reuters LIBOR page 1, or if not reported by Reuters, as reported by any service selected by Administrative Agent on the applicable day (provided that if such day is not a Eurodollar Banking Day for which a Eurodollar Rate is quoted, the next preceding Eurodollar Banking Day for which a Eurodollar Rate is quoted) at or about 11:00 a.m., London time (or as soon thereafter as practicable), for Dollar deposits being delivered in the London interbank eurodollar currency market for a term of one month commencing on such date of determination, divided by (ii) one minus the Reserve Requirement in effect on such day. If for any reason rates are not available as provided in clause (i) of the preceding sentence, the rate to be used in clause (i) shall be, at Administrative Agent’s discretion (in each case, rounded upward if necessary to the nearest one-sixteenth (1/16) of one percent (0.0625%)), (1) the rate per annum at which Dollar deposits are offered to the Administrative Agent in the London interbank eurodollar currency market or (2) the rate at which Dollar deposits are offered to the Administrative Agent in, or by Xxxxx Fargo to major banks in, any offshore interbank eurodollar market selected by Administrative Agent, in each case on the applicable day (provided that if such day is not a Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market, the next preceding Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market) at or about 11:00 a.m., London time (or as soon thereafter as practicable) (for delivery on such date of determination) for a one month term. Each determination by Administrative Agent pursuant to this definition shall be conclusive absent manifest error.

  • LIBO Base Rate means with respect to each day an Advance is outstanding (or if such day is not a Business Day, the next succeeding Business Day), the rate per annum equal to the rate published by Bloomberg or if such rate is not available, the rate appearing at page 3750 of the Telerate Screen as one-month LIBOR on such date, and if such rate shall not be so quoted, the rate per annum at which the Lender is offered Dollar deposits at or about 11:00 A.M., eastern time, on such date by prime banks in the interbank eurodollar market where the eurodollar and foreign currency and exchange operations in respect of its Advances are then being conducted for delivery on such day for a period of one month and in an amount comparable to the amount of the Advances to be outstanding on such day.

  • U.S. Base Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by a commercial Canadian bank selected by the Lender and in effect as its base rate at its principal office in Toronto, Ontario on such day for determining interest rates on Dollar demand commercial loans in Canada, and (b) the sum of the Federal Funds (Effective) Rate plus 0.50% per annum.

  • L/C Fee Rate with respect to each Letter of Credit at any date, the applicable percentage per annum set forth below based upon the Status on such date: Level I Level II Level III Level IV Level V Level VI Status Status Status Status Status Status ------ ------ ------ ------ ------ ------ 0.45% 0.50% 0.60% 0.70% 0.90% 1.20%

  • Taxable Rate means, with respect to a Taxable Period, the product of (i) the average interest rate on the Loan during such period and (ii) 1.54.

  • Daily LIBOR Rate means, for any day, the rate per annum determined by the Administrative Agent by dividing (x) the Published Rate by (y) a number equal to 1.00 minus the LIBOR Reserve Percentage on such day.

  • Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate (as indicated in the relevant Final Terms and further provided for below) as the reference rate for the calculation of interest) and will be calculated by the Calculation Agent on the Interest Determination Date, as follows, and the resulting percentage will be rounded, if necessary, to the fifth decimal place, with 0.000005 being rounded upwards:

  • Three-Month LIBOR Rate means the rate determined in accordance with the following provisions:

  • Daily Adjusting LIBOR Rate means, for any day, a per annum interest rate which is equal to the quotient of the following:

  • Facility Fee Rate means a rate per annum determined in accordance with the Pricing Schedule.

  • Per Annum means for a year deemed to be comprised of 360 days.

  • LIBOR Applicable Margin means, as of any date with respect to any LIBOR Interest Period, the Applicable Margin in effect for such LIBOR Interest Period as determined in accordance with Section 2.4 hereof.

  • Adjusted Base Rate means the Base Rate plus the Applicable Percentage.