Exact interest

Exact interest

Interest paid based on the basis of a 365-day/year schedule by a bank or other financial_institution as opposed to a 360-day basis (ordinary interest). Difference can be material when large principal sums of money are involved.

Exact Interest

Interest that is calculated and therefore repaid on the basis of a 365-day year (that is, an actual year), as opposed to a 360-day year, which is used in some calculations. While this is only a small difference in calculation, the difference in amount can be large, especially with large debt transactions. See also: Ordinary interest.
References in periodicals archive ?
It is not only an issue of deposits and loans as we don't know exact interest rates banks are charging.
The exact interest rates Greece would face depend on how much money it chooses to take up, and how it is paid out - all at once, or in instalments.
Draw up a list of everything you owe on plastic, overdrafts and loans - plus the exact interest rates.
Notwithstanding these express concerns, the IRS failed to develop any netting rules and even argued in court (in the Northern States Power case) that the Code's interest differential permits the government to exact interest payments from a taxpayer who at all times is a net creditor of the government.
Indeed, even though Congress has twice formally reiterated its intention that netting procedures be developed (in 1990 and 1994), the IRS has argued in court (in the Northern States Power case) both that netting is not required and that the Code's interest differential even permits the government to exact interest payments from a taxpayer who at all times is a net creditor of the government.
Using Eloqua's analytical capabilities, Inner Circle was able to generate meaningful reports that highlighted prospective clients and their exact interest in the property for sales follow-up, while the Lodge at Lincoln Peak sales team received weekly reports detailing the online activity of past reservation holders.
Since a portion of this acquisition is subject to a preferential purchase right held by another major oil and gas company, it is uncertain at this time as to the exact interest that the Company will acquire in this transaction.
To meet users' exact interests, several different versions are in development, including the basic TobyRich.
Traikov stated that one must find out who is to benefit and who is to lose, but declined offering names and details when asked to say what exact interests have been behind the protests.
Serving those exact interests have been too many House and Senate Democrats in name only.
A Tour by Type section allows a user to search tours based on their exact interests, whether it be going on a cruise, bus, eco-friendly, or adventure tour.
Targeting ads to consumers based upon their exact interests represents the greatest potential of the Internet as an advertising medium," Day said.