INTEREST RATE and INTEREST CHARGES definition

INTEREST RATE and INTEREST CHARGES. This section explains how we calculate rates applicable to your account. This VISA loan has a variable rate, which means that your APR may increase or decrease each billing cycle while you maintain your account with us. (A) The Index: The APR is subject to change each billing cycle based on an increase or decrease in the Prime Rate Index (hereafter, Prime). Prime is the highest Prime Rate Index published in The Wall Street Journal "Money Rates" section on the 13th day of each month. If the Wall Street Journal is not published on that day, then we will use the immediately preceding edition. If Prime is no longer available, we will choose a new index that is based upon comparable information. We will give you notice of this choice.
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Related to INTEREST RATE and INTEREST CHARGES

  • Reference Interest Rate means the following rate (expressed as a percentage rate per annum) for deposits in the currency of the Strike Price: the Reference Interest Rate specified in the Table which has been published on the screen page specified in the Table (the "Screen

  • Interest Rate Cap means a Cap.

  • Applicable Interest Rate means the rate of interest prescribed under the Act from time to time;

  • Cash Interest Rate means the Federal Funds Effective Rate - the rate for that day opposite the caption “Federal Funds (Effective)” as set forth in the weekly statistical release designated as H.15 (519), or any successor publication, published by the Board of Governors of the Federal Reserve System.

  • Note Interest Rate means a per annum rate equal to 0.08% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period.

  • Interest Rate Agreement means in respect of a Person any interest rate swap agreement, interest rate cap agreement or other financial agreement or arrangement designed to protect such Person against fluctuations in interest rates.