Balance Computation Method Sample Clauses
The Balance Computation Method clause defines how account balances are calculated for the purposes of the agreement. It typically specifies the timing, formula, and components included in the balance calculation, such as credits, debits, interest, and fees. For example, it may state that balances are determined at the close of business each day and include all posted transactions. This clause ensures consistency and transparency in financial calculations, reducing the risk of disputes over how balances are determined.
Balance Computation Method. For all accounts, dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day. Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account if deposited before the close of business. If you close any of your dividend earning accounts before dividends are credited you may not receive the accrued dividends up to the date of account closure.
Balance Computation Method. Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Balance Computation Method. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Balance Computation Method. The Bank uses the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal and accrued (but not yet credited) interest in the account at the end of each day.
Balance Computation Method. For all dividend-bearing Accounts, dividends are calculated by the average daily balance method which applies a daily periodic rate to the average daily balance for the average daily balance calculation period. The average daily balance is determined by adding the full amount of the principal in Your Account for each day of the period and dividing that figure by the number of days in the period.
Balance Computation Method. Interest is calculated using the average daily balance method, which totals the ending balances for each day of the interest period, divides the results by the total number of days in the interest period and uses the resulting average balance to calculate interest based on the balances and tiered rates.
Balance Computation Method. Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. Dividends are paid on average daily balances above $500.
Balance Computation Method. We use the Daily Balance Method to calculate dividends on your account. The Daily Balance Method applies a daily periodic rate to the balance in the account each day.
Balance Computation Method. For all dividend-bearing Accounts (except term Accounts), dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the Account each day. For term Accounts, dividends are calculated by the average daily balance method which applies a daily periodic rate to the average daily balance for the average daily balance calculation period. The average daily balance is determined by adding the full amount of the principal in Your Account for each day of the period and dividing that figure by the number of days in the period. Accrual on Noncash Deposits. For dividend-bearing Accounts, dividends will begin to accrue on the business day that You deposit noncash items (e.g. checks) into Your Account.
Balance Computation Method. We use the average daily balance method to calculate interest on your Account. This average daily balance method applies a periodic rate to the average daily balance in your Account for the Period. The average daily balance is calculated by adding the principal in your Account for each day of the Period and dividing that figure by the number of days in the Period. For purposes of this Truth-in- Savings Disclosure, the term“Period”refers to a calendar quarter (or portion thereof if the Account is opened or closed during the Period).