Glossary:


Term - A : Average Monthly Balance/ Average Quarterly Balance

Average Monthly Balance/ Average Quarterly Balance


Average Monthly Balance/ Quarterly Balance

The sum of the daily balance in an account during a given period, usually a month or a quarter, divided by the number of days in that period gives the Average Monthly (AMB) or Average Quarterly (AQB) Balance. Banks normally specify a certain minimum AMB or AQB to be maintained in current and savings accounts
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