Monthly Periodic Rate definition

Monthly Periodic Rate is the APR divided by 12. The APR on the date of determination is (a) the Index Rate plus (b) the Margin for the applicable category of Transactions.

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Monthly Periodic Rate. As defined in Paragraph 8.1.

Monthly Periodic Rate means the percentage rate of interest charge imposed against the outstanding balance on a monthly basis.

Examples of Monthly Periodic Rate in a sentence

The Finance Charge for a billing cycle is computed by multiplying the average daily balance subject to a Finance Charge by the Monthly Periodic Rate.
Finance charges on your Account are calculated by applying the applicable Monthly Periodic Rate to the average daily balances for purchases and cash advances.
The applicable Monthly Periodic Rate and ANNUAL PERCENTAGE RATE for any promotion and any promotion terms and conditions will be disclosed to before or at the time you make use of such promotion.
We will impose Finance Charges (a fee representing the cost of credit and the cost of borrowing on your Account) by applying the Monthly Periodic Rate as described below.
The applicable Monthly Periodic Rate and ANNUAL PERCENTAGE RATE for any promotion and any promo- tion terms and conditions will be disclosed to before or at the time you make use of such promotion.

More Definitions of Monthly Periodic Rate

Monthly Periodic Rate or “MPR” means the applicable APR divided by 12.

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.

Monthly Periodic Rate. The Monthly Periodic Rate is determined by dividing the Annual Percentage Rate by twelve (12 months in a year).

Monthly Periodic Rate means your Annual Percentage Rate divided by 12.

Monthly Periodic Rate means the APR divided by 12. --------------------- "Monthly Servicing Fee" shall have, with respect to each Series, the --------------------- meaning specified in Section 3.02.

Monthly Periodic Rate. The Monthly Periodic Rate of interest used in determining the amount of periodic interest due is a variable rate which may change from Billing Cycle to Billing Cycle. The Monthly Periodic Rate for each Billing Cycle will be 1/12 of the sum of an index ("Index") plus a margin ("Margin"). We can tell you the current Index, Margin and interest rate upon request. The applicable Monthly Periodic Rate and corresponding Annual Percentage Rate for each type of balance are shown on the statement. If the Index is no longer published, then we may select an alternate published index which to calculate interest rate adjustments, and that alternate Index will become the Index. The Index will be reviewed on the due date of every month. If a change has occurred, the change to the interest rate will take effect on the first day of the following Billing Cycle (or business day closest to but not before).

Monthly Periodic Rate. The periodic rate that applies to certain Transactions calculated on a monthly basis. New Balance: The new balance on your Account shown on the front of your Account Statement. Payment Address: The remittance address indicated on the front of your Account Statement. Payment Due Date: The date shown on the front of your Account Statement by which we must receive payment for the Billing Cycle. PIN: Personal identification number. POS: Point of sale.