Average Daily Principal Balance means, for any Fiscal Quarter (or portion thereof), the average daily principal balance of the Revolving Loans outstanding during such Fiscal Quarter (or portion thereof).
Average Daily Principal Balance is calculated separately for purchases and cash advances and is determined as follows: For each day during the statement period (billing cycle) the principal balances of purchases and of cash advances from the previous day are increased by any purchases or cash advances posted to the Account that day and decreased by any payments or credits posted to the Account that day. Such daily principal balances are separately totaled and then divided by the number of days in the statement period (billing cycle), resulting in the “Average Daily Principal Balances” of purchases and cash advances shown on your statement. You can avoid FINANCE CHARGES on purchases by paying the full amount of the New Balance of Purchases each month within 25 days of your statement closing date. Otherwise, the New Balance of Purchases, and subsequent purchases from the date they are posted to your account, will be subject to FINANCE CHARGE. Cash Advances bear FINANCE CHARGE from the transaction date until paid. There is no free interest period for Cash Advances. However, you can always keep the FINANCE CHARGE to a minimum by making payments, whatever the amount, as promptly and as often as possible.
Average Daily Principal Balance is calculated separately for purchases, cash advances and balance transfers and is determined as follows: For each day during the statement period (billing cycle) the principal balances of purchases, cash advances and of balance transfers from the previous day are increased by any purchases, cash advances or balance transfers posted to the Account that day and decreased by any payments or credits posted to the Account that day. Such daily principal balances are separately totaled and then divided by the number of days in the statement period (billing cycle), resulting in the “Average Daily Principal Balances” of purchases, cash advances and balance transfers shown on your statement. You can avoid FINANCE CHARGES on purchases by paying the total New Balance each month on or before the payment due date shown on your monthly statement. Otherwise, the New Balance of Purchases, and subsequent purchases from the date they are posted to your account, will be subject to FINANCE CHARGE, except that if during the previous billing cycle you paid all amounts owing in full by the Payment Due Date, then in the current billing cycle you will have a free interest period on the amount of the New Balance of Purchases remaining from the previous billing cycle that is paid by the Payment Due Date based on our payment allocation method. Cash Advances and Balance Transfers bear FINANCE CHARGES from the transaction date until paid. There is no FREE INTEREST period for Cash Advances and Balance Transfers. However, you can always keep the FINANCE CHARGE to a minimum by making payments, whatever the amount, as promptly and as often as possible.
Examples of Average Daily Principal Balance in a sentence
Tab to the Adjustments for Difference in Average Daily Principal Balance column.
Average Daily Principal Balance for the three months ended December 31, 2020 and September 30, 2020 was $1.61 billion and $1.60 billion, respectively.
I think it can await publication of the FBI report and public reaction to it here and abroad.
Depending on Billing Code, input the difference in the Average Daily Principal Balance (whole dollars only, positive number) between what should have been reported and what was originally reported.
More Definitions of Average Daily Principal Balance
Average Daily Principal Balance is calculated separately for purchases and cash advances and is determined as follows: For each day during the statement period (billing cycle) the principal balances of purchases and of cash advances from the previous day are increased by any purchases or cash advances posted to the Account that day and decreased by any payments or credits posted to the Account that day. Such daily principal balances are separately totaled and then divided by the number of days in the statement period (billing cycle), resulting in the “Average Daily Principal Balances” of purchases and cash advances shown on your statement. You can avoid FINANCE CHARGES on purchases by paying the full amount of the New Balance of Purchases each month on or before the payment due date shown on your monthly statement. Otherwise, the New Balance of Purchases, and subsequent purchases from the date they are posted to your account, will be subject to FINANCE CHARGE, except that if during the previous billing cycle you paid all amounts owing in full by the Payment Due Date, then in the current billing cycle you will have a free interest period on the amount of the New Balance of Purchases remaining from the previous billing cycle that is paid by the Payment Due Date based on our payment allocation method.
Average Daily Principal Balance is calculated separately for purchases and cash advances and is determined as follows: For each day during the statement period (billing cycle) the principal balances of purchases and of cash advances from the previous day are increased by any purchases or cash advances posted to the Account that day and decreased by any payments or credits posted to the Account that day. Such daily principal balances are separately totaled and then divided by the number of days in the statement period (billing cycle), resulting in the “Average Daily Principal Balances” of purchases and cash advances shown on your statement. Variable Rate: Your account is subject to a variable rate. Your ANNUAL PERCENTAGE RATE (APR) may increase or decrease if the Index used by the Credit Union increases or decreases. The Index is the Prime Rate as published in the Wall Street Journal on the first day of each calendar month or, if no such rate is published on that day, the rate published on the last business day preceding such date. Each month, the new Index rate is added to the Margin disclosed in your Visa Account Opening Credit disclosure to determine the APR. Any change in the APR affects your entire balance and is effective at the beginning of the first billing cycle which follows the change in the Index. The Credit Union reserves the right to substitute a similar index if the Index described above becomes unavailable. You can avoid FINANCE CHARGES on purchases by paying the full amount of the New Balance of Purchases each month within 25 days of your statement closing date. Otherwise, the New Balance of Purchases, and subsequent purchases from the date they are posted to your account, will be subject to FINANCE CHARGE. Cash Advances bear FINANCE CHARGE from the transaction date until paid. There is no free interest period for Cash Advances. However, you can always keep the FINANCE CHARGE to a minimum by making payments, whatever the amount, as promptly and as often as possible.
Average Daily Principal Balance is calculated separately for purchases and cash advances and is determined as follows: For each day during the statement period (billing cycle) the principal balances of purchases and of cash advances from the previous day are increased by any purchases or cash advances posted to the Account that day and decreased by any payments or credits posted to the Account that day. Such daily principal balances are separately totaled and then divided by the number of days in the statement period (billing cycle), resulting in the “Average Daily Principal Balances” of purchases and cash advances shown on your statement. You can avoid FINANCE CHARGES on purchases by paying the full amount of the New Balance of Purchases each month on or before the payment due date shown on your monthly statement. Otherwise, the New Balance of Purchases, and subsequent purchases from the date they are posted to your account, will be subject to FINANCE CHARGE, except that if during the previous billing cycle you paid all amounts owing in full by the Payment Due Date, then in the current billing cycle you will have a free interest period on the amount of the New Balance of Purchases remaining from the previous billing cycle that is paid by the Payment Due Date based on our payment allocation method. Cash Advances bear FINANCE CHARGE from the transaction date until paid. There is no FREE INTEREST period for Cash Advances. However, you can always keep the FINANCE CHARGE to a minimum by making payments, whatever the amount, as promptly and as often as possible. Penalty Rate. At any time any minimum payment on your account is 60 days or more past due, Credit Union may send you 45 days advance notice that Credit Union will change the ANNUAL PERCENTAGE RATE to a Penalty Rate of 18.00%, corresponding to a Monthly Periodic Rate of 1.50%. The Penalty Rate will never exceed the maximum rate permitted by law. If Credit Union changes your rate to a Penalty Rate, the Penalty Rate will remain in effect until your account has been brought current and we have received six consecutive minimum payments on time. If you bring your account current and make six minimum monthly payments on time, the Annual Percentage Rate will revert back to the rate described in the first paragraph of this section.
Average Daily Principal Balance. (including current transactions), the Bank takes the beginning principal balance of your Account each day ,add any new advances and subtract any principal payments and credits. This gives the Bank the daily principal balance. Then the Bank adds up all the daily principal balances for the billing cycle and divide by the number of days in the billing cycle. This gives the Bank the "Average Daily Principal Balance". You can verify these calculations by multiplying the periodic interest rate times the average daily principal balance and multiplying that product by the number of days in the billing cycle. The "daily periodic interest rate" for the billing cycle will be based on Bank's Base Rate, as of the close of business on the fifteenth day (or the following business day if the fifteenth is not a business day) of the preceding month. Adjustments to the interest rate may occur as the Bank's Base Rate changes. The Bank's; Base Rate is subject to change at the discretion of the Bank. To the Bank's Base Rate, the Bank will add a margin of 0.500%. Then, the ANNUAL PERCENTAGE RATE for the billing cycle will be divided by 360 to get the "daily periodic interest rate" for the billing cycle.
Average Daily Principal Balance. You can verify these calculations by multiplying the periodic interest rate times the average daily principal balance and multiplying that product by the number of days in the billing cycle. The "daily periodic interest rate" for the billing cycle will be based on Bank's Base Rate, as of the close of business on the fifteenth day (or the following business day if the fifteenth is not a business day) of the preceding month. Adjustments to the interest rate may occur as the Bank's Base Rate changes. The Bank's; Base Rate is subject to change at the discretion of the Bank. To the Bank's Base Rate, the Bank will add a margin of 0.500%. Then, the ANNUAL PERCENTAGE RATE for the billing cycle will be divided by 360 to get the "daily periodic interest rate" for the billing cycle.
Average Daily Principal Balance is calculated separately for purchases and cash advances and is determined as follows: For each day during the statement period (billing cycle) the principal balances of purchases and of cash advances from the previous day are increased by any purchases or cash advances posted to the Account that day and decreased by any payments or credits posted to the Account that day. Such daily principal balances are separately totaled and then divided by the number of days in the statement period (billing cycle), resulting in the “Average Daily Principal Balances” of purchases and cash advances shown on your statement.