VARIABLE RATE INFORMATION definition

VARIABLE RATE INFORMATION. The Annual Percentage Rate will vary with the market based on the Prime Rate (Index), and may increase or decrease as the Prime Rate increases or decreases. We calculate your variable rate by adding a percentage (Margin) to the U.S. Prime Rate published in The Wall Street Journal on the last business day of each month. For Credit Tier 1 applicants we add 4.00% to the Prime Rate, for Credit Tier 2 applicants we add 6.00% to the Prime Rate, and for Credit Tier 3 applicants we add 8.00% to the Prime Rate.
View Source
VARIABLE RATE INFORMATION. If any Annual Percentage Rate is variable, your rate is determined by adding the applicable Margin to the applicable Index (in some cases, the applicable Margin may be subtracted from the applicable Index). The daily periodic rate is 1/365th (1/366th during leap years) of the Annual Percentage Rate. The Schedule will show if you have a variable rate and will describe your Index and Margin. An increase in the Index will increase the applicable Annual Percentage Rate and daily periodic rate, which may increase the minimum payment due on your account.
View Source
VARIABLE RATE INFORMATION. If any Annual Percentage Rate is variable, your rate is determined by adding the applicable Margin to the applicable Index (in some cases, the applicable Margin may be subtracted from the applicable Index). The daily periodic rate is 1/365th (1/366th during leap years) of the Annual Percentage Rate. The Schedule will show if you have a variable rate and will describe your Index and Margin. An increase in the Index will increase the applicable Annual Percentage Rate and daily periodic rate, which may increase the minimum payment due on your account. The Margin used for Purchases and Balance Transfers will not increase during the life of your account unless the applicable Index becomes unavailable and we are permitted by applicable law to use a replacement Index and Margin. The Margin for Cash Advances and Special Offers may increase.
View Source

Examples of VARIABLE RATE INFORMATION in a sentence

  • HEALTH SAVINGS ACCOUNT TRUTH-IN-SAVINGS DISCLOSURE: VARIABLE RATE INFORMATION – The interest rate of your account will be determined by the rate in effect when funds are deposited to the account, however the interest rate and annual percentage yield may change.

  • SPECIFIC TERMS APPLICABLE TO YOUR SAVINGS ACCOUNT TIERED VARIABLE RATE INFORMATION.

Related to VARIABLE RATE INFORMATION

  • Variable Rate means a per annum rate of interest, equal to LIBOR plus 1.68%, as determined on the LIBOR Determination Date preceding each Interest Payment Date, reset quarterly, commencing upon expiration of the Fixed Rate Period.

  • Variable Rate Bonds means Current Interest Bonds, which may be either Serial Bonds or Term Bonds, issued with a variable, adjustable, convertible or other similar interest rate which is not fixed in percentage for the entire term thereof at the date of issue, which Bonds may also be Option Bonds.

  • Variable Rate Indebtedness means any portion of indebtedness or other payment obligations, the interest rate on which is not established at the time of incurrence and has not at some subsequent date been established at a single numerical rate for the entire term thereof.

  • Variable Rate Transaction shall have the meaning ascribed to such term in Section 4.12(b).

  • Comparable Rates means rates payable by the Comparison Group for Comparable Services so as to be fair comparable rate with the Framework Prices;