Interest Calculation. If a daily balance on your Account is subject to an APR, we will charge interest on that daily balance. We use the average daily balance method (which includes new Transactions) to calculate the interest charge on your Account. If interest applies to a balance, it will start applying on the day a charge is added to that balance and continue until that balance is paid in full. We multiply each daily balance by its applicable daily periodic rates (each applicable APR divided by 365). We do this for each day in the Billing Period. This gives us the daily interest amounts. Then we add up all the daily interest amounts for all the daily balances. This gives us the total interest for the Billing Period. Your balances, and their corresponding APRs, are shown on your periodic statement. GRACE PERIOD: You will not pay any interest on Purchases if you pay the Account Balance, including any Balance Transfers, in full by the Payment Due Date shown on your periodic statement each Billing Period. We call this a grace period on Purchases. Generally you will have at least a 25-day grace period from the close of each Billing Period to pay the Account Balance without incurring additional interest. The Payment Due Date disclosed on each periodic statement provided to you is the last day of your grace period for that statement’s billing cycle. If you do not pay the Account Balance, including any Balance Transfers, in full by the Payment Due Date in a Billing Period, you will pay interest on your Purchases from the date they are posted to your Account. You also will not have a grace period on Purchases again until you pay the Account Balance in full by the Payment Due Date two
Interest Calculation has the meaning set forth in Section 8.4.
Interest Calculation. The Time Deposit Account will earn simple interest based on an Interest Rate and Annual Percentage Yield (APY) calculated using the Daily Balance Method. Interest will be paid at maturity of the Time Deposit Account. Nevertheless, we reserve the right, at our sole discretion and from time to time, to change the interest rate and Annual Percentage Yield (APY).
Examples of Interest Calculation in a sentence
The Interest Calculation Agent will, as soon as practicable after the Relevant Time on each Interest Determination Date, determine the Interest Rate and calculate the Interest Amounts for the relevant Interest Period.
The Interest Calculation Agent may not resign its duties without a successor having been appointed as aforesaid.
The Issuer will procure that, so long as any Note remains outstanding, there shall at all times be at least four Reference Banks with offices in the Relevant Financial Centre and an Interest Calculation Agent if provision is made for them in the Constituting Instrument.
The determination of the Interest Rate and the calculation of the Interest Amounts by the Interest Calculation Agent shall (in the absence of manifest error) be final and binding upon all parties.
If the Interest Calculation Agent is unable or unwilling to act as such, the Issuer will, with the prior written consent of the Trustee, appoint the London office of a leading bank engaged in the London interbank market to act as such in its place and its determination shall be final and binding on the parties.
More Definitions of Interest Calculation
Interest Calculation. Interest payable on each payment date = ∑ (principal amount of daily loan× / %/360), the computing interval of “∑” is from the latest interest settlement date (including) to this interest settlement date of interest (excluding). The last computing interval is the neighboring latest interest settlement date (including) to this interest settlement date of interest (excluding).
Interest Calculation has the meanings set forth in Section 4.1(e).
Interest Calculation has meaning set forth in Section 11.2(c).
Interest Calculation. We Use a method called “Average Daily Balance” (excluding new Purchases). The Interest Charge Calculation Method applicable to Your Account for credit Purchases of goods and services that You obtain through the use of Your Card is specified and explained below: Purchases: Average Daily Balance (excluding new Purchases). The interest charges for a billing cycle are computed by dividing the Annual Percentage Rate (APR) by 365 or 366 (leap year) and applying to the Average Daily Balance. To get the Average Daily Balance, We take the beginning balance of Your Account each day, subtract any payments, credits, non-accruing fees, and unpaid interest charges. We do not add in any new Purchases. This give Us the daily balance. Grace Period on Purchases: You will not pay interest on Purchases if You pay the Outstanding balance by the Payment Due Date. If Your payment is not received by the Payment Due Date, interest will be calculated for existing and new Purchases using the Average Daily Balance method. Partial Payments: Your Account will be considered in default if a partial payment is received by the Payment Due Date. The Outstanding Balance is due no later than the Payment Due Date to maintain Your Account in good standing.
Interest Calculation. The balance of the Black Account will earn simple interest on collected funds at such rate as Bank deems appropriate from time to time at its sole discretion, during any calendar month when the average daily balance of such Account is higher than the required minimum. The Bank will credit your Black Account monthly with the interest due.
Interest Calculation. The Time Deposit Account will earn simple interest at such rate as is set by Bank at its sole discretion from time to time. The interest will be paid as per the agreement between Bank and the Custo- mer.
Interest Calculation. The interest of the loan of Party B is calculated on the 20th day of each quarter on a quarterly base from the day that the loan is transferred into Party B’s account. Daily interest is calculated based on rules and regulations from People’s Bank of China.