Common use of Minimum Balance Requirement Clause in Contracts

Minimum Balance Requirement. There is no minimum balance requirement for this Account. Average Daily 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. The period we use is the monthly statement cycle. Dividends will begin to accrue on the business day you deposit noncash items (for example, checks) to your Account..