Common use of Balance Calculation Method Clause in Contracts

Balance Calculation Method. We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the balance in your account each day. Certain accounts have tiered rates. This means that the interest rate you earn will depend on the daily balance in your account. For purposes of determining the principal balance on which interest is calculated, we include deposits on the business day the deposit is considered to have been made (see the Ability to Withdraw Funds Disclosure for the definition of the term “business day” and an explanation of when a deposit is not considered made on the day you deliver checks to us).

Balance Calculation Method. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the balance principal in your the account each day. Certain accounts have tiered rates. This means that the interest rate you earn will depend on the daily balance in your account. For purposes of determining the principal balance on which interest is calculated, we include deposits on the business day the deposit is considered to have been made (see the Ability to Withdraw Funds Disclosure for the definition of the term “business day” and an explanation of when a deposit is not considered made on the day you deliver checks to us).

Balance Calculation Method. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the balance principal in your the account each day. Certain accounts have tiered rates. This means that the interest rate you earn will depend on the daily balance in your account. For purposes of determining the principal balance on which interest is calculated, we include deposits on the business day the deposit is considered to have been made (see the Ability to Withdraw Funds Disclosure Availability Policy for the definition of the term “business day” and an explanation of when a deposit is not considered made on the day you deliver checks to us).