- Nov 7, 2016
can anyone tell if calculation shown above is correct ?
If MAB is Rs 10,000 so can I just keep Rs 10,000 for 30 days so my daily closing balance would be Day 1- 10k, Day 2- 10k till Day 30. So total closing balance for 30 days would be 3,00,000 . Avg monthly bal = 3,00,000/30 = Rs 10,000.
OR do I have to deposit Rs 10,000 everyday for 30 days without withdrawing anything ?
What is Monthly Average Balance or MAB of Savings Account? - BasuNivesh - the author of this post claims to be a sebi registered advisor so his calculation should be correct but I am confused.