How to calculate Monthly Average Balance in Saving Bank Account, How to maintain Monthly Average Balance. Read Latest updates, news on monthly average balance maintenance. Calculate your average monthly balance to know the amount to be maintained in your saving bank account.
Monthly Average Balance or MAB is defined as the sum of all the end of the day closing balance of your bank’s savings account divided by the number of days in that particular month. Bank charge penalty or fine if monthly average balance in your saving bank account falls below minimum average balance as specified by your bank.
To avoid monthly average balance penalty or charges, a regular review of your account is required to ensure the average monthly balance is maintained.