Calculating Interest Charges Sample Clauses

Calculating Interest Charges. We calculate interest charges for a Billing Cycle by multiplying the Balance Subject to Interest Rate for each category of transactions by its applicable monthly periodic rate. The total interest charged for a Billing Cycle is the sum of the interest charged for each Balance Subject to Interest Rate.
View SourceView Similar (11)
Calculating Interest Charges. 6.1 Where interest is payable, we calculate interest daily on each account by multiplying the relevant parts of the daily balance by the daily percentage rates appropriate to the transaction at the end of each day and debited on the last day of the statement period. The relevant parts of the daily balance may vary depending on whether an interest free period applies. Interest is calculated from the posting date on all debits to the account, otherwise it is the effective date. If a transaction occurs in a prior statement period but is not posted to the account until the next period, the effective date of the transaction will not be backdated further than the commencement of the statement period in which it is posted. 6.2 The interest free period for purchases starts on the date the purchase first appeared on your statement and ends on the due date for payment on that statement. The maximum length of the interest free period for a statement is 55 days. If you do not pay the closing balance for each statement by the due date on the statement, the interest free period ceases from that date on all unpaid purchases until the balance of all purchases is paid. 6.3 The interest free period is on purchases is only available if you pay the closing balance of each statement by the due date. 6.4 We will debit interest on the closing balance of each statement period. We will also debit interest on the day we close your credit card account.
View SourceView Similar (2)
Calculating Interest Charges. 6.1 We will calculate interest daily by: (a) first subtracting any interest free purchases from the unpaid daily balance of the account at the end of the day (b) then multiplying that amount by the daily percentage rate.
View Source
Calculating Interest Charges. 5.1 We will calculate interest daily by multiplying the unpaid daily balance of the account at the end of the day by the daily percentage rate. The daily percentage rate is the Annual Percentage Rate divided by 365. 5.2 Subject to clause 5.3, we will debit interest on or about the same day every month. This day will not necessarily be the same day that your repayments are due. We will also debit interest on the day you pay the balance of your loan. 5.3 If your loan is an interest only in advance loan we will debit your annual interest charges in advance on the day that your loan is first drawn and on each anniversary of this date.
View Source
Calculating Interest Charges 
View SourceView Similar (9)

Related to Calculating Interest Charges

  • Interest Charges You agree to pay interest at the rate(s) disclosed to you at the time you open your account and as may be changed from time to time in accordance with applicable law. Average Daily Balance including new transactions: Interest Charges will accrue on your average daily balance outstanding during the month. To get the average daily balance, we take the beginning balance each day, add any new purchases, cash advances, balance transfers or other advances, and subtract any payments, unpaid interest charges, and unpaid late charges. This gives us the daily balance. Then, we add up all the daily balances for the billing cycle and divide that by the number of days in the billing cycle. We then multiply that by the periodic rate corresponding to the Annual Percentage Rate on your account. If you have different rates for purchases, cash advances or balance transfers, separate average daily balances for each will be calculated and the appropriate periodic rate is then applied to each.

  • Calculating Interest Assume that you have a single interest rate of 15.99%, your ADB is $2,250 and there are 30 days in the billing period.

  • Interest Expense For any period, without duplication, (a) total interest expense incurred (both expensed and capitalized) of the Borrower, the Guarantors and their respective Subsidiaries on funded debt, including the portion of rents payable under a Capitalized Lease allocable to interest expense in accordance with GAAP (but excluding capitalized interest funded under a construction loan interest reserve account), determined on a consolidated basis in accordance with GAAP for such period, plus (b) the Borrower’s, the Guarantors’ and their respective Subsidiaries’ Equity Percentage of Interest Expense of their Unconsolidated Affiliates for such period. Interest Expense shall not include Preferred Distributions or interest on Trust Preferred Equity.

  • Minimum Interest Charge If the interest charge for all balances on your Credit Card account is less than $1.00, we will charge you the Minimum Interest Charge shown on page 1. This charge is in lieu of any interest charge.

  • Interest Expense Coverage Ratio The Borrower will not permit the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense, in each case for any period of four consecutive fiscal quarters ending after the Effective Date, to be less than 4.0 to 1.0.