Monthly Average Balance (MAB) is being charged by each of the banks for non maintenance of minimum balance in the account.The Monthly Average Balance (MAB) is calculated on a simple average of day-end balances for a calendar month. The MAB is calculated by adding the closing ledger balance of the account of each day from the start of the month to the end of the month. Then the total sum amount is divided by the number of days in that month.
Askbanking MAB calculator enables you to calculate the Monthly Average Balance (MAB) required to be maintained in your account based on inputs provided by you.
Step 1: Enter the MAB required to be maintained, month and the year
Step 2: Select the number of days and enter your average end of day balance for the selected days and then click on Calculate
Step 3: Enter sum of closing balance of the each day balance. i.e. the closing balance of 1st day, 2nd day, 3rd day so on and add the balance of each day. This is to remember that only credit balance to be considered.
Step 4: Check the Balance amount required for number of days to maintain the MAB and avoid the penalty.Housing Loan Calculator