Interest Rates and Charges. The current Interest Rates are set out on each Billing Statement. They are expressed as annual percentage rates. The standard Interest Rates are shown in the chart outlined in the “Standard Annual Fees, Grace Periods and Interest Rates” section of these Commercial Card Program Service Materials. The Interest Rates may change from time to time. If Corporate Billing has been selected for a Customer Account, whether combined with Finance Office Billing or not, the Customer can avoid interest on both Purchases and Fees on a Customer Account or a Finance Office Account by always paying the Customer Account’s and/or Finance Office Account’s New Balance in full on or before the Payment Due Date, every month. The New Balance is shown on each Billing Statement and is made up of the sum of all Purchases, Cash Advances, interest and Fees incurred on all Cardholder Accounts under a Customer Account or Finance Office Account, up to the Statement Date. If Individual Billing has been selected for a Customer Account, whether combined with Finance Office Billing or not, the Customer can avoid interest on both Purchases and Fees on a Cardholder Account or a Finance Office Account by always paying the New Balance in full on or before the Payment Due Date, every month. The New Balance is shown on each Billing Statement and is made up of all Purchases, Cash Advances, interest and Fees incurred on a Cardholder Account, or the sum of all Purchases, Cash Advances, interest and Fees incurred on all Cardholder Accounts under a Finance Office Account, up to the Statement Date. If the Customer does not pay an Account’s New Balance in full on or before the Payment Due Date, the Customer will lose the interest-free status for Purchases and Fees. If this happens, the Customer must pay interest on all Purchases and Fees shown on that month’s Billing Statement as well as interest on all new Purchases and new Fees. Interest is calculated from the transaction date, until the day Royal Bank posts a payment for the total amount owing. To regain the interest-free status on Purchases and Fees, the Customer must pay the Account’s New Balance by the Payment Due Date. Interest on previously billed Purchases and Fees that has accrued since the end of the last Account Statement period to the date the payment in full of the New Balance is received will appear on the next month’s Billing Statement. Cash Advances never benefit from an interest-free Grace Period. This means that interest is charged from...
Interest Rates and Charges. No interest shall be changed by Company to the funds transferred to Company.
Interest Rates and Charges. The current Interest Rates are set out on each Account Statement. They are expressed as annual percentage rates. The standard Interest Rates are shown in the chart outlined in the “Standard Annual Fees, Grace Period and Interest Rates” Section of this Agreement. If you are taking advantage of any special offers, the Interest Rates may be different than those on the chart. The Interest Rates may change from time to time.
Interest Rates and Charges. The current Interest Rates are set out on each Billing Statement. They are expressed as annual percentage rates. The standard Interest Rates are shown in the chart outlined in the “Standard Annual Fees, Grace Periods and Interest Rates” section of this Agreement. The Interest Rates may change from time to time. The Employer can avoid interest on both Purchases and Fees on the Account by always paying the New Balance in full on or before the Payment Due Date, every month. Cash Advances never benefit from an interest-free Grace Period; this means that interest is always charged from the transaction date. Royal Bank does not charge interest on interest.
Interest Rates and Charges. (…) If the Customer does not pay an Account’s New Balance in full on or before the Payment Due Date, the Customer will lose the interest- free status for Purchases and Fees. If this happens, the Customer must pay interest on all Purchases and Fees indicated on that month’s Billing Statement, as well as interest on all new Purchases and new Fees. Interest is calculated from the transaction date until the day Royal Bank posts a payment for the total amount owing. To regain the interest-free status on Purchases and Fees, the Customer must pay the Account’s New Balance by the Payment Due Date. Interest on previously billed Purchases and Fees that has accrued since the end of the last Account Statement period to the date the payment in full of the New Balance is received will appear on the next month’s Billing Statement. Cash Advances never benefit from an interest-free Grace Period. This means that interest is charged from the transaction date. Royal Bank calculates interest daily; however it only adds it to the Account monthly. The amount of interest Royal Bank charges on an Account is calculated as follows: (a) Royal Bank adds the amount the Customer owes each day, and divides that total by the number of days in the Billing Statement period. This is the average daily balance; and (b) Royal Bank multiplies the average daily balance by the applicable daily Interest Rate(s) (obtained by taking the annual Interest Rate(s) and dividing it by the number of days in the year). Royal Bank then multiplies this value by the total number of days in the Billing Statement period to determine the interest Royal Bank charges. If there is more than one applicable Interest Rate, Royal Bank calculates the amount of interest the Customer owes based on the average daily balances that apply to each Interest Rate. Each Billing Statement will indicate the Minimum Payment, Payment Due Date, transaction and posting dates, and Interest Rates. (…) Current wording in the HSBC Commercial Agreement Revised wording in the RBC CCSM
