Monthly Average Balance (MAB) Rules

[The Lone Crusader]

Since the minimum bank balance for any bank in India (varying from bank to bank and based on the location (urban, semi-urban, rural) is taken into account on the basis of the Monthly Average Balance (MAB), if on a particular day if that day's balance is slightly less than the minimum balance, will a penalty be charged even if the MAB is above the minimum?

 

[Abhi7hek]

No.. the overall monthly balance is calculated.
If the MAB is ₹1,000 then ₹1,000 × 30 is the total balance that should be maintained. It refreshes every month.