Daily Balance Computation Method Sample Clauses
The Daily Balance Computation Method is a clause that defines how interest is calculated on an account by determining the balance at the end of each day. Under this method, the financial institution reviews the account's balance daily and applies the applicable interest rate to that day's ending balance, rather than averaging balances over a longer period. This approach ensures that interest calculations accurately reflect daily fluctuations in the account, providing a fair and transparent method for both the account holder and the institution.
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Daily Balance Computation Method. Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day. Accrual of Dividends. Dividends will begin to accrue no later than the business day that we receive credit with the exception of IMMA and IMMA Gold accounts.
Daily 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.
Daily 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.
Daily Balance Computation Method. Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Daily 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. If the balance falls below $5.00 for the day your account will not earn a dividend.
Daily Balance Computation Method. Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day Accrual of Interest on Non-Cash Deposits: Interest will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account. Transaction Limitations: After the certificate is purchased, no additional monies can be added until the stated maturity date. Partial withdrawals may be made throughout the term of the account; however, early withdrawal penalties will apply. This account may not be used for any electronic withdrawals or automatic transfers out of this account and into any other Alpena Alcona Area Credit Union account. Early Withdrawal Penalty: An early withdrawal penalty will be imposed for withdrawals before maturity. Withdrawal of Interest Prior to Maturity: The annual percentage yield is based on the assumption that interest will remain in the account until maturity; any withdrawal of interest will reduce earnings.
Daily Balance Computation Method. Interest is calculated by the daily balance method that appliesa daily periodic rate to the balance in the account each day. There isno minimum opening deposit required to open thisaccount. There isno minimum daily balance required to receive the lowest disclosed interest. See the Rate Schedule for the remaining balance re q u ire me nts and their corresponding interest rates/APYs. To avoid a Low Balance Fee, the minimum daily balance requirement must be met on e a ch d a y o f th e month. If the minimum daily balance requirement is not met each day of the month, you will be charged a Low Balance Fee. See the Fee Sch ed ul e for detailsand fees. See the Fee Schedule for information on service fees, including Low Balance Fee.
Daily Balance Computation Method. Dividends are calculated by the daily balance method that applies a daily periodic rate to the balance in the account each day. Minimum Opening Deposit: The minimum opening deposit is $2,500. Minimum Balance Requirements: A monthly service fee of $10.00 is charged on this account unless a $2,500 minimum balance is maintained during the entire month. Transaction Limitations: Keys Money Market accounts are limited to six (6) withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized, automatic transfer, online transfer, telephonic order or similar order to a third party per calendar month. A fee will be assessed should you exceed the above transaction limits. If you exceed the transfer limits herein, your account may be assessed additional fees and/or will be subject to closure. See the Fee Schedule for fee amounts. Rate Information: The tiered dividend rate and annual percentage yield may change weekly, as determined by the credit union board of directors. Compounding and Crediting: Dividends will be compounded daily and will be credited to your account monthly. Dividend Period: For this account type, the dividend period is monthly, for example the beginning date of the first dividend period of the calendar year is January 1 through January 31. All other dividend periods follow this same pattern of dates. The dividend rates and annual percentage yields are the rates and yield as of the last dividend declaration date, which for this example is January 31.
Daily 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. You may not make any withdrawals or transfers to another credit union account of yours or to a third party by means of a pre-authorized or automatic transfer, telephonic order or instruction, or similar order to a third party.
Daily Balance Computation Method. Dividends are calculated by using the daily balance method. This method applies a daily periodic rate to the principal in the account each day. Dividends are credited to accounts monthly. Accrual of Dividends on Noncash Deposits: Dividends begin to accrue on the first business day you place noncash items (i.e.: checks) in your account. Regular Share Account $ 1.00 $ 1.00 Special Share Account None $ 1.00 Holiday Club Account None $ 1.00 Basic Checking Account None None Premier Checking Account None $ 500.00 Money Market Account None $ 1,000.00 Share Certificate (Certificate of Deposit) None $ 500.00 IRA Savings Account None None IRA Share Certificate (CD) None $ 500.00 The following information applies to specific Share Accounts. Money Market Account — the minimum deposit is $25.00 and the minimum withdrawal is $200.00. Holiday Club Account — balances are paid to you by check or trans- ferred to another account of yours on or after October 1 of each year and the account will remain open. Share Draft Account Transaction Limitation — You may make complete unlimited transactions for this account. Share Certificate Transaction Limitation — After you open a certificate, you may not add to the balance in the account until the certificate matures. Automatic Renewal — Your certificate will automatically renew at maturity, at the same term. The dividend rate will be a new rate. You can prevent an automatic renewal by withdrawing the funds within ten (10) calender days after maturity. Compounding and Crediting — Dividends will be not compounded and credited monthly. ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ Publish Date 1/16 • Truth In Savings Disclosures • Terms and Conditions • Funds Availability