Average Quarterly balance

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Average Quarterly balance ( AQB ) is calculated as mentioned below :

AQB = ( The sum of the end of the day balances in the quarter ) / ( Total number of days in the quarter ). must be equal to Rs.10,000.

Can anyone explain this ?
The sum of the end of the day balances in the quarter
 
it means they calculate the balance of the days in the three months what it is at the end of the day.supposedly u have 1 lakh rupees in the morning. you take out 99000 rupees during the day time.your day balance would be 1000. not 1 lakh.
 
it means
they calculate the balance of the days in the three months what it is at the end of the day.

supposedly u have 1 lakh rupees in the morning.
you take out 99000 rupees during the day time.
your day balance would be 1000. not 1 lakh.


I lost Rs. 800 due to my ignorance. 😢
I used to think that the required average quarterly balance should be the closing balance at the end of quarter.
 
icici bank?its a major major way banks loot their customers...if you want to use a particular bank's services... just forget that you have the money which is required for maintaining the minimum balance. that is the best way to deal with it. calculations are complicated and you would find it hard to manage the account details if you go below that for a period. small or big.
 
icici bank?


yessssss

hdfc is one step ahead. It declined the check even though I had more than Rs.10,000

icici bank?

its a major major way banks loot their customers...

if you want to use a particular bank's services... just forget that you have the money which is required for maintaining the minimum balance.

yeah, that's the conclusion I have reached at.
shouldn't touch 10,000.
 
I too once lost Rs.750 to Standard Chartered bank due to this min balance crap..was dealing thru the SBI a/c and forgot about SCB :ashamed:
 

two bank accounts here. i check the balance in both of them regularly. ICICI has a habit of making charges at the most inconvinient times. with 10K limit in ICICI now, it has become a hassle for me. i cannot close it because it is more widely accepted compared to standard chartered. standard chartered is my primary account now. so i usually know how much i have in it at any given time.
 
Average Quarterly Balance (AQB) is the average balance to be maintained in the account over a period of a quarter. Add the balance each day of the quarter and divide the sum by the number of days in that quarter.
 
My friend had opened an saving a/c in AXIS BANK before 1 year,now his account is not activated because of not maintaining Average Quarterly Balance by 6 months.I think his account had canceled.But he wants to open an another a/c in that bank.Is it possible to open an another a/c in same bank.
 

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