How We Calculate and Charge Interest Clause Samples

How We Calculate and Charge Interest. Interest Rate The annual interest rate that applies to your Visa Account is shown on the Disclosure Statement and will appear on your statements. From time to time, we may offer you promotional interest rates on certain Transactions, such as Balance Transfers, Cash Advances or new purchases. We will tell you about promotional interest rates as explained in Section 4(F) of this Agreement – “Promotional Offers”. We may change the interest rate at any time. If we increase your interest rate, we will let you know (in writing) at least 30 days ahead of time. Your current interest rate will always appear on your statements. When we charge interest, we calculate it on the basis of your average daily balance using a daily interest rate. To get the daily interest rate we take the applicable yearly interest rate, divide it by 365 (or 366 for a leap year) and round down to 5 digits after the decimal point. Interest on Cash Advances and Balance Transfers For Cash Advances and Balance Transfers, we will always charge you interest at the applicable daily rate (which varies depending on your card type) every day from the date of the Transaction. There is no interest-free grace period on these types of Transactions. Even if you re-pay the amount of a Cash Advance or Balance Transfer on the same day that you completed the Transaction (and you have no other Balance outstanding), we will charge you interest for that one day. Interest on Purchases and Fees No interest will be payable on Purchases and fees if your Balance is paid in full every statement period by the Payment Due Date. Your Payment Due Date will always appear on your statements. • When we say “your Balance is paid in full”, this includes any outstanding Balances from previous statements, from any type of Transaction (not just Purchases) and includes all unpaid interest and fees. • When we say “paid in full by the Payment Due Date”, we mean that we have received your payment by the Payment Due Date. The day we receive your payment will depend on the payment method you choose. If you send a payment through the mail for example, it may take us several days to receive it. You are responsible for making sure that we receive your payments on time. Your Payment Due Date will be 21 days after the last day of the statement period. This 21 days is known as a “grace period” because for any Purchases or fees appearing on your statement for the first time, we will not charge you interest on those Purchases or fees for this ...
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How We Calculate and Charge Interest. Interest Rate
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Related to How We Calculate and Charge Interest

  • Interest Rates Payments and Calculations (a) Interest Rates. From the Effective Date, all Obligations charged to the Loan Account with respect to the Loans shall, subject to Section 2.5(c)(ii), bear interest payable in cash on the Outstanding Amount at a rate per annum equal to ABR plus the Applicable Margin and shall be payable in accordance with Section 2.5(c).

  • Interest Calculation Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year by (c) the outstanding principal balance.

  • Additional Voting Terms; Calculation of Principal Amount All Notes issued under this Indenture shall vote and consent together on all matters (as to which any of such Notes may vote) as one class and no Notes will have the right to vote or consent as a separate class on any matter. Determinations as to whether holders of the requisite aggregate principal amount of Notes have concurred in any direction, waiver or consent shall be made in accordance with this Article IX and Section 2.13.

  • INTEREST CALCULATION COSTS 10.1 As set forth in 31 CFR 205.27, interest calculation costs are defined as those costs necessary for the actual calculation of interest, including the cost of developing and maintaining clearance patterns in support of the interest calculations. Interest calculation costs do not include expenses for normal disbursing services, such as processing of checks or maintaining records for accounting and reconciliation of cash balances, or expenses for upgrading or modernizing accounting systems. Interest calculation costs in excess of $50,000 in any year are not eligible for reimbursement, unless the State provides justification with the annual report. 10.2 The State expects to incur the following types of interest calculation costs: Costs of calculating interest, including the cost of developing and maintaining clearance patterns in support of interest calculations. 10.3 The State shall submit all claims for reimbursement of interest calculation costs with its Annual Report in accordance with 31 CFR 205.

  • CHANGES TO THE CALCULATION OF INTEREST 10.1 Absence of quotations