Common use of Interest on Accounts Clause in Contracts

Interest on Accounts. 12.1 We will pay interest (or charge negative interest, where applicable) at our prevailing interest rate for any interest bearing Account and where interest is payable to you, such interest shall be calculated in such manner as prescribed by us from time to time. (a) Where interest is payable to you, such interest will be credited to your Account on a monthly basis or at such other intervals as we may determine from time to time. For the avoidance of doubt, no interest will accrue or be paid by us on any balances in a dormant Account. (b) Where negative interest is chargeable on your Account, such interest will be debited from your Account at such intervals as we may determine from time to time. 12.2 Notwithstanding any provision to the contrary in this Agreement and/or any Applicable Agreement, we reserve the right to do any of the following from time to time and under any circumstances as we may reasonably deem fit (including but not limited to, where market rates (based on the currency in which your deposit is denominated) fall below zero: (a) reduce, suspend or stop the payment of interest on any credit balance in your Account; (b) impose zero or negative interest rates on your Account, and you shall pay us the relevant fees and charges and any amount owing to us (including negative interest, service fees, if any); DBS Bank Ltd., Singapore 17 Co. Reg. No. 196800306E (c) impose and debit such fees or charges from your Account; and/or (d) in the case of Deposits, revise the Deposit Period.

Interest on Accounts. 12.1 We will pay interest (or charge negative interest, where applicable) at our prevailing interest rate for any interest bearing Account and where interest is payable to you, such interest shall be calculated in such manner as prescribed by us from time to time. (a) Where interest is payable to you, such interest will be credited to your Account on a monthly basis or at such other intervals as we may determine from time to time. For the avoidance of doubt, no interest will accrue or be paid by us on any balances in a dormant Account. (b) Where negative interest is chargeable on your Account, such interest will be debited from your Account at such intervals as we may determine from time to time. 12.2 Notwithstanding any provision to the contrary in this Agreement and/or any Applicable Agreement, we reserve the right to do any of the following from time to time and under any circumstances as we may reasonably deem fit (including but not limited to, where market rates (based on the currency in which your deposit is denominated) fall below zero: (a) reduce, suspend or stop the payment of interest on any credit balance in your Account; (b) impose zero or negative interest rates on your Account, and you shall pay us the relevant fees and charges and any amount owing to us (including negative interest, service fees, if any); DBS Bank Ltd., Singapore 17 Co. Reg. No. 196800306E; (c) impose and debit such fees or charges from your Account; and/or (d) in the case of Deposits, revise the Deposit Period.