Account Interest definition
Examples of Account Interest in a sentence
The Minimum Fixed Account Interest Rate is the rate shown on Page 3, compounded annually.
The Corporation shall pay to the Holder, by depositing to the Payment Account, Interest on the Principal Sum at a rate equal to the Interest Rate.
At Our discretion, We may credit interest rates greater than the Minimum Fixed Account Interest Rate.
All interest earned on the Replacement Reserve Deposits shall be added to and become part of the Replacement Reserve Account; provided, however, if applicable law requires, and so long as no Event of Default exists under any of the Loan Documents, Lender shall pay to Borrower the interest earned on the Replacement Reserve Account not less frequently than the Replacement Reserve Account Interest Disbursement Frequency.
All interest, if any, earned on the Replacement Reserve Deposits shall be added to and become part of the Replacement Reserve Account; provided, however, if applicable law requires, and so long as no Event of Default has occurred and is continuing under any of the Loan Documents, Lender shall pay to Borrower the interest earned on the Replacement Reserve Account not less frequently than the Replacement Reserve Account Interest Disbursement Frequency.
From the date such new DiscoverSeries Collections Account, Interest Funding Account, Principal Funding Account, Accumulation Reserve Account, Class C Reserve Account or Class D Reserve Account is established, it will be the “DiscoverSeries Collections Account,” the “Interest Funding Account,” the “Principal Funding Account,” the “Accumulation Reserve Account,” the “Class C Reserve Account” or the “Class D Reserve Account,” as the case may be.
In addition, no later than 12:00 noon Eastern Time on the Servicer Remittance Date, the Servicer shall cause to be withdrawn from the Collection Account Interest Funds and the Principal Funds, to the extent on deposit, and such amount shall be deposited in the Certificate Account.
The General Account net investment factor is guaranteed to be equal to the Minimum Fixed Account Interest Rate shown on Page 3.
Type of Account Interest Crediting Interest Compounding BALANCE COMPUTATION METHOD – We use the daily balance method to calculate the interest on your account.
We calculate interest charges as follows: • on Purchases, Cash Advances and fees: from the date of the Transaction • on Cheques, Balance Transfers and other transfers of funds: from the date the amount is posted to your Account Interest is charged until the date we receive payment in full.