Minimum Balance to Earn Interest Sample Clauses

The "Minimum Balance to Earn Interest" clause defines the lowest account balance required for an account holder to qualify for interest payments. In practice, this means that if the account balance falls below the specified minimum at any time during the statement period, no interest will be credited for that period. This clause ensures that only customers who maintain a certain level of funds in their account benefit from interest accrual, thereby encouraging higher balances and helping the financial institution manage its interest expenses.
Minimum Balance to Earn Interest. For certain savings accounts, we require a minimum balance to earn interest. The amounts of these minimum balances are described on the Schedule of Interest. We use the daily balance method to determine if the minimum balance requirement has been met. This method applies a daily periodic rate to the balance in your account each day. For accounts with a minimum balance requirement, you will only earn interest on days when your balance is not below the required minimum. You must maintain at least that balance in the account each day to obtain the disclosed annual percentage yield.
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Minimum Balance to Earn Interest. For certain savings accounts, we require a minimum balance to earn interest. The amounts of these minimum balances are described in the Interest Rate Schedule. We use the daily balance method to determine if the minimum balance requirement has been met.
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Minimum Balance to Earn Interest. No interest is accrued for any day(s) the current balance in your Account is below the minimum balance to earn interest for your type of Account shown in the accompanying Business Fee Schedule or Rate Sheet.
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Related to Minimum Balance to Earn Interest

  • Minimum Balance ▇▇▇▇▇▇▇▇ agrees to maintain a minimum balance of funds in the Settlement Account as Processor may specify to Merchant in writing from time to time.

  • Minimum Cash Balance Licensee shall fund the Facility Checking Account --------------------- with an initial amount equal to $25,000.00 and thereafter Licensee shall provide the working capital required by Section I(H) of this Agreement

  • Minimum Interest Coverage Ratio The Borrowers shall not permit the Interest Coverage Ratio, calculated as of the end of each fiscal quarter for the four fiscal quarters then ended, to be less than 3.50 to 1.00.

  • Minimum Interest Coverage The Borrower will not permit the ratio of EBITDA to Consolidated Interest Expense as at any fiscal quarter end for the four fiscal quarters then ending to be less than 3.00 to 1.0.

  • Minimum Balance Requirements To be a member and maintain Accounts with Us You must purchase 1 share in the Credit Union. The par value of a share in this Credit Union is $5.00. If the balance in Your primary share Account drops below 1 share ($5.00), at any time, We may, at Our option, close Your Account. Nonsufficient Funds Returns. Any share draft or pre-authorized transfer, or transaction made through the use of a debit card, or other electronic means, as is applicable (including any in-person transaction), that is presented to Us for payment on Your Account when Your Account lacks sufficient collected funds to pay any such item may, at Our option, be returned for nonsufficient funds or We may honor any such item and charge You a fee for doing so. Overdraft Balance Calculation. When processing transactions that debit or credit Your Account, We start each Business Day with Your final Account balance from the preceding Business Day. The final balance takes into account all of the debit and credit transactions that were settled that Business Day pursuant to Our Funds Availability Policy, as well as any other debits or credits to Your Account that were finally settled that day, as described above in the "Deposit of Items" and "Collection and Processing of Items" sections of the Account Agreement. This starting balance at the beginning of a Business Day (the preceding Business Day's final balance) is sometimes referred to as Your "actual balance."