Daily Periodic Rate definition

Daily Periodic Rate means the APR divided by the number of days in the year (365 days, or 366 days in the case of a leap year). • Finance Charge is the cost of credit as a dollar amount. It includes the Interest Charge plus disclosed Transaction Fees. • Interest Charge is the periodic rate charge based on the applicable APR. It is a component of the Finance Charge and is defined in more detail in Section 6. Your Total Interest is a summary of the Interest Charges for each balance and associated APR.

Daily Periodic Rate or “DPR” means the applicable APR divided by 365.

Daily Periodic Rate or “DPR” means the applicable APR divided by 365 (by 366 during leap years). The DPR for Purchases and Cash Advances is 0.032876712329% (0.032786885246% in a leap year).

Examples of Daily Periodic Rate in a sentence

• The Daily Periodic Rate (DPR) is 1/365th of the APR, rounded to the nearest one ten-thousandth of a percentage point.

• The interest charged for a balance in a billing period, except for variations caused by rounding, equals: ● Average Daily Balance (ADB) multiplied by ● Daily Periodic Rate (DPR) multiplied by ● number of days the DPR was in effect.

• We will reinstate your Daily Periodic Rate and ANNUAL PERCENTAGE RATE to the rate set forth in this Agreement once you have made six consecutive Minimum Payments on or before the due date, starting with the first billing cycle after the Penalty APR is imposed.

• Your payments under this Agreement, including the amount of the FINANCE CHARGE, will increase as a result of the increase in your Daily Periodic Rate and ANNUAL PERCENTAGE RATE, and any such increase in your Daily Periodic Rate and ANNUAL PERCENTAGE RATE will be shown on your periodic statement.

• The Daily Periodic Rate and the corresponding ANNUAL PERCENTAGE RATE may change (by increasing or decreasing) on the first day of each of your billing cycles that begin in March, June, September, and December.

More Definitions of Daily Periodic Rate

Daily Periodic Rate or “DPR” means the applicable APR divided by 365 and “Monthly Periodic Rate” or “MPR” means applicable APR divided by 12. MPRs are used to calculate your interest charges if you are a resident of Iowa when your Account is opened. For all other persons, DPRs are used to calculate your interest.

Daily Periodic Rate. The Daily Periodic Rate will be 0.0436% with a corresponding APR of 15.90%.

Daily Periodic Rate. The corresponding daily periodic rate is: 0.03808 % - 0.04904 %. Minimum Payment Requirement: 2% of the outstanding balance.

Daily Periodic Rate or “DPR” means the applicable APR divided by 365 and “Monthly Periodic Rate” or “MPR” means applicable APR divided by 12.

Daily Periodic Rate. The Daily Periodic Rate will be 0.0192% with a corresponding APR of 7.00%. Application of Penalty APR: Your APR may be increased to the disclosed Penalty APR if You terminate employment with Us for any reason, voluntary or otherwise, unless You have accumulated 10 years of employment with the Credit Union at the time of termination. Phone Transfer: $3.00 for each transaction. Late Payment Fee: 20.00% of the interest due will be charged to Your Account if You are 10 or more day(s) late in making a payment. Returned Payment Fee: $19.50 will be charged to Your Account if Your payment is returned for any reason. Minimum Payment: $93.00. Your minimum payment is determined by Your Credit Limit. However, Your minimum payment will never exceed Your outstanding balance. If Your credit limit increases, Your minimum payment will be adjusted accordingly.

Daily Periodic Rate. The Daily Periodic Rate for all APRs equals the APR divided by 365.

Daily Periodic Rate. The Daily Periodic Rate will be 0.0436% with a corresponding APR of 15.90%. Phone Transfer: $3.00 for each transaction. Late Payment Fee: 20.00% of the interest due will be charged to Your Account if You are 10 or more day(s) late in making a payment. Returned Payment Fee: $29.50 will be charged to Your Account if Your payment is returned for any reason. Minimum Payment: Your minimum payment is determined by Your monthly outstanding balance, as shown below. However, Your minimum payment will never exceed Your outstanding balance. Draw Period: You may obtain advances each year beginning November 1st through January 31st of the next year. You will be required to make payments during the draw and repayment periods. Advances: Advances will be given in increments of $100.00.