Average Daily Balance Method definition

Average Daily Balance Method. Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal balance in the account each day. Accrual of Dividends. Dividends will begin to accrue on the business day we receive provisional credit for the deposit of noncash items (e.g. checks) to your account. Dividends will begin to accrue on cash deposits on the business day you make the deposit to your account. Once dividends are credited to a certificate account, it becomes principal. If you close your Certificate account before any dividend is credited, you will not receive accrued but uncredited or unpaid dividends.
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Average Daily Balance Method means that the interest will be calculated each day by applying a daily interest rate (based on the annual interest rate specified in the Offer) to the average balance in the CD or MMDA each day (which is determined by adding the full amount of the principal balance in the CD or MMDA on each day during the month and dividing that total by the number of days in the month).
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Average Daily Balance Method for Share, IRA Share, Holiday Share, Money Market, and Checking Accounts. Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in your account
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Examples of Average Daily Balance Method in a sentence

  • The Average Daily Balance Method applies a periodic rate to the average daily balance in the account for the period.

  • For accounts using the Average Daily Balance Method, dividends are calculated by applying a periodic rate to the Average Daily Balance in the account for the dividend period.

  • The Average Daily Balance Method is the application of a periodic rate to the average daily balance in the account for the period.

  • We use the Average Daily Balance Method to calculate the dividends on Your account.

  • We use the Daily Balance Method and the Average Daily Balance Method to calculate Dividends on your account, as indicated on your Rate Schedule.

  • For all other Accounts: The Average Daily Balance Method applies a periodic rate to the average daily balance in the account for the period.

  • We use the Average Daily Balance Method to calculate Dividends on your account, as indicated on your Rate Schedule.

  • We use the Average Daily Balance Method (including new Cash Advances).

  • We use the Average Daily Balance Method (including new Purchases).

  • Dividends are calculated by the Average Daily Balance Method which applies a periodic rate to the average daily balance in your account for the period.


More Definitions of Average Daily Balance Method

Average Daily Balance Method. Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in your account for the Period. The average daily balance is calculated by adding the balance in your account for each day of the Period and dividing that figure by the number of days in the Period.
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Average Daily Balance Method means the application of a periodic rate to the average daily balance in the Account for the period, determined by adding the available balance in the Account for each day of the period and dividing that figure by the number of days in the period.
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Related to Average Daily Balance Method

  • Average Daily Balance means the balance sum computed by dividing the sum of the balance outstanding on each day from the first day of the next Billing Period by the number of days in that Billing Period. For the purpose of computation, each day’s balance is determined by adjusting the Total New Balance with payments, credit, cash withdrawal, purchases of goods and/or services obtained on the Sales Drafts and/or Cash Withdrawal Drafts received by Maybank before the Closing Date of each Billing Period;

  • Average Daily Flow means the cumulative total sewage flow to the sewage works during a calendar year divided by the number of days during which sewage was flowing to the sewage works that year;

  • Applicable Multiplier means, with respect to any Rate Period for any Series of RVMTP Shares, the percentage set forth opposite the applicable credit rating most recently assigned to such Series by the Rating Agency in the table below on the Rate Determination Date for such Rate Period: *And/or the equivalent ratings of any other Rating Agency then rating the RVMTP Shares utilizing the highest of the ratings of the Rating Agencies then rating the RVMTP Shares.

  • Average Monthly Limit means the maximum allowable "Average Monthly Concentration" as defined in Section 22a-430-3(a) of the RCSA when expressed as a concentration (e.g. mg/l); otherwise, it means "Average Monthly Discharge Limitation" as defined in Section 22a-430-3(a) of the RCSA.

  • Daily Balance means the amount of the Obligations owed at the end of a given day.