Method and system for managing interest rate calculations
First Claim
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1. A computer system for determining an interest rate for application in an investment account, comprising:
- a data storage device storing;
a value of an investment account;
a current value of an adjustable interest rate, the value of the adjustable interest rate being variable, for crediting interest to the investment account; and
a value of a fixed guaranteed minimum interest rate, for crediting interest to the investment account; and
a computer in communication with the data storage device, the computer being configured to calculate an interest rate applicable to the value of the investment account for a current period, by;
accessing, on a periodic basis, the current value of the adjustable interest rate;
accessing the value of the fixed guaranteed minimum interest rate;
determining, by comparing the accessed current value of the adjustable interest rate to the accessed value of the fixed guaranteed minimum interest rate,which of the current value of the adjustable interest rate and the value of the fixed guaranteed minimum interest rate is greater; and
in response to determining that the current value of the adjustable interest rate is less than the fixed guaranteed minimum interest rate, providing an output indicative of applying the fixed guaranteed minimum rate interest in crediting interest for the current period.
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Abstract
A data processing method and system for managing interest rate calculations includes a data storage device storing data indicative of an account value of an investment product and a computer configured to determine a current value of an adjustable interest rate, compare the adjustable interest rate to a fixed guaranteed minimum interest rate, and determine whether to apply the adjustable interest rate or the fixed guaranteed minimum interest rate to the investment product account value to determine a value to credit to the account.
76 Citations
20 Claims
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1. A computer system for determining an interest rate for application in an investment account, comprising:
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a data storage device storing;
a value of an investment account;
a current value of an adjustable interest rate, the value of the adjustable interest rate being variable, for crediting interest to the investment account; and
a value of a fixed guaranteed minimum interest rate, for crediting interest to the investment account; anda computer in communication with the data storage device, the computer being configured to calculate an interest rate applicable to the value of the investment account for a current period, by; accessing, on a periodic basis, the current value of the adjustable interest rate; accessing the value of the fixed guaranteed minimum interest rate; determining, by comparing the accessed current value of the adjustable interest rate to the accessed value of the fixed guaranteed minimum interest rate, which of the current value of the adjustable interest rate and the value of the fixed guaranteed minimum interest rate is greater; and in response to determining that the current value of the adjustable interest rate is less than the fixed guaranteed minimum interest rate, providing an output indicative of applying the fixed guaranteed minimum rate interest in crediting interest for the current period. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A computer-implemented method for determining an interest rate for application in an investment account, comprising:
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accessing by a computer a data storage device, the data storage device storing; a value of an investment account;
a current value of an adjustable interest rate, the value of the adjustable interest rate being variable, for crediting interest to the investment account; and
a value of a fixed guaranteed minimum interest rate, for crediting interest to the investment account; andcalculating by the computer an interest rate applicable to the value of the investment account for a current period, the calculating comprising; accessing, on a periodic basis, the current value of the adjustable interest rate; accessing the value of the fixed guaranteed minimum interest rate; determining, by comparing the accessed current value of the adjustable interest rate to the accessed value of the fixed guaranteed minimum interest rate which of the current value of the adjustable interest rate and the value of the fixed guaranteed minimum interest rate is greater; and in response to the determining of which of the current value of the adjustable interest rate and the value of the fixed guaranteed minimum interest rate is greater comparing, determining which one of the current value of the adjustable interest rate or the fixed guaranteed minimum interest rate is to be applied in crediting interest for the current period. - View Dependent Claims (12, 13, 14, 15, 16, 17)
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18. A computer system for managing interest rate calculations, comprising:
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a data receiving device configured to receive data relating to an investment account, including data indicative of a current account value, data indicative of a value of an adjustable interest rate, and data indicative of a fixed guaranteed minimum interest rate; a processor in communication with the data receiving device, the processor configured to access data received from the data receiving device; and a data storage device in communication with the processor and the data receiving device; wherein the processor is configured to; access, on a periodic basis, a current value of the adjustable interest rate; access the value of the fixed guaranteed minimum interest rate; determine, by comparing the accessed current value of the adjustable interest rate to the accessed value of the fixed guaranteed minimum interest rate, which of the current value of the adjustable interest rate and the value of the fixed guaranteed minimum interest rate is greater; and in response to determining that the current value of the adjustable interest rate is less than the fixed guaranteed minimum interest rate, provide as an output and store in the data storage device data indicative of applying the fixed guaranteed minimum interest rate in crediting interest to the investment account for a current period. - View Dependent Claims (19, 20)
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Specification