Periodic rate

Periodic rate

The monthly effective interest rate. For example, the periodic rate on a credit card with an 18% annual percentage rate is 1.5% per month.

Periodic Rate

The cost of funds or interest rate for a single month instead of an entire year. For example, if the APR on a credit card is 36%, the periodic rate is 3% because the card holder pays 3% in interest each month.
References in periodicals archive ?
Most of these borrowers are more likely to be looking forward to a reduction in payments, rather than an increase (though periodic rate floors may limit these decreases).
This measure allows insurers to continue to use for the next 2 years periodic rate changes on a file-and-use basis, as long as the rate falls within the 6 percent flex band.
For example, it bans misrepresentations about the annual percentage rate or periodic rate.
Periodic rate specials and discounts can be found on its Web site.
According to Regulation DD (Truth in Savings), which governs consumer-purpose deposit accounts, "interest means any payment to a consumer or to an account for the use of funds in an account, calculated by application of a periodic rate to the balance.
WHEN seeking periodic rate hikes, officials at the Los Angeles Department of Water and Power invariably claim they're desperate for the cash.
On the other hand, conventional loans typically "float" above a predetermined index and are subject to periodic rate adjustments throughout the life of the loan.
Lastly, he argued a periodic rate case requirement would deprive pipelines of these market tools and necessitate the reallocation of capacity turnback costs to the shippers.
MopacNet polls connected machines at a periodic rate.
The state maximum is the periodic rate that, in almost every case, would have been payable had periodic payments been made instead of a lump sum settlement.
The Rule of 78s method is not typically used in mortgages in which a periodic rate is applied to a declining balance and thus the issue may not be closely linked to the perception of consumer problems in refinancing home purchase loans.
The state has made periodic rate and distribution changes affecting pledged taxes and other departmental revenues, both to expand resources available to transportation and conversely to relieve state general fund stress.