Explanation regarding interest
Hi got the following updated from td regarding my aeroplane. What does this mean? please also give an example
Current
The total of the above calculation is the amount of interest we charge on the last day of each statement period.
New
Before July 2, 2026: The total of the above calculation is the amount of interest we charge on the last day of each statement period. Effective July 2, 2026: The total of the above calculation is the amount of interest we charge on the last day of each statement period. We add the unpaid interest charge to your Balance at the end of the statement period. As a result, we charge interest on unpaid interest.