What is Monthly Average Balance

Monthly Average Balance, State Bank of India has implemented the mandatory rule of maintaining minimum monthly average balance (MAB) on the savings account, if the customer is not able to keep this balance in his account, then the bank charges a penalty from them, as a fine, the bank charges your account. Some amount is deducted from, most of the people are not aware of it, on the basis of which bank rules the penalty is imposed on the customer’s account, on this page you will get the details of Monthly Average Balance. Giving from

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What is the Monthly Average Balance?

The minimum amount that is deposited in your account per day as per the rules of the bank, for non-deposit of which a penalty is imposed by the bank, is called Monthly Average Balance.

Monthly Average Balance

Monthly Average Balance	Area
1000 RS.	Rural Area
2000 RS.	Semi-Rural Area
3000 RS.	Urban Area
5000 RS.	Metro City

Monthly Average Balance Rule

First Position

We try to understand this rule in such a way, as on July 1, you deposited 5000 rupees in your savings account of your bank, for the whole month you neither withdraw money from your account nor deposited any extra money in it. In this way, you have fulfilled the minimum average balance requirement of the bank.

Second Position

Whether you withdraw or deposit money from your account, your monthly average balance should not be less than Rs 5000, it can be understood as follows-

Suppose you deposited 5000 rupees in your account on 1st July and you withdraw 3000 rupees on 10th July, after that you deposited 10000 rupees again on 20th July, in this way 12000 rupees remain in your account at the end of the month. In such a situation, the monthly average balance will be calculated as follows.

From 1st July to 10th July ie 9 days your balance 5000×9= Rs 45000.

10th July to 20th July ie 10 In this way your balance 2000×10=20000 rupees.

From July 20 to July 31, ie 11, in this way your balance is 12000 × 11 = Rs 1,32000.

Total balance from 1st July to 31st July = Rs 1,97,000.

To get 1 day’s balance, it will be divided by 31, then the amount received = Rs 6354.

This means that no matter how many transactions and deposits you have done, but your one-day balance remains more than Rs 5000, otherwise the bank can collect a fine from you.

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