Ordinary interest

Ordinary interest

Interest based on a 360-day year instead of a 365-day year, resulting in what can be a significant difference.

Ordinary Interest

Interest that is calculated and therefore repaid on the basis of a 360-day year as opposed to a full 365-day year. While this is only a small difference in calculation, the difference in amount can be large, especially with large debt transactions. See also: Exact interest.
References in classic literature ?
I had long since learnt to understand, composedly and as a matter of course, that my situation in life was considered a guarantee against any of my female pupils feeling more than the most ordinary interest in me, and that I was admitted among beautiful and captivating women much as a harmless domestic animal is admitted among them.
Fentolin read it, at first with ordinary interest. Then a change came.
Nothing in her face betrayed any more than the most ordinary interest in what he was saying.
It was, therefore, with more than ordinary pleasure that he rose to greet them when they again entered; and with more than ordinary interest that he inquired what had occurred to detain them from his society.
To a question, he said the entire edition of the PSL 5 being staged in different venues in Pakistan will take the charm of the event to the maximum and add festivity and extra ordinary interest of the fans in every match.
Talking about the course, Shri Bhupendra Kainthola, Director, FTII, said that it meets a long-standing demand of cinema critics, film reviewers, film bloggers, research scholars, film academics and just about anyone who has more than ordinary interest in cinema.
Expo Organizer Kamran Abbasi told that over 18,000 business people developed extra ordinary interest in local and foreign technology-led products displayed at 200 stalls.
Such SMEs have extra ordinary interest to be stationed in Pakistan to expand their business operations.
Net Investment Income includes ordinary interest, dividends, capital gains and passive income.
In addition to ordinary interest, beginning on 1 June 2022, contingent interest will accrue in certain circumstances relating to the trading price of the debentures and under certain other circumstances.
If, on conversion of a market discount bond issued after July 18, 1984, or issued on or before July 18, 1984 and purchased after April 30, 1993, a taxpayer receives stock in the issuer of the bond, the amount of market discount accrued to the date of exchange must be treated as ordinary interest income upon sale or disposition of the stock, unless the taxpayer had elected to include in income market discount on the bond as it accrued.
Accordingly, the ETN allows the taxpayer to defer the recognition of income until the disposition of the contract and eliminates the ordinary interest income factor associated with normal debt and notional principal contracts.