How is the Average Monthly Balance (AMB) requirement calculated for savings account?
Average Monthly Balance is calculated by dividing the sume of all ‘End of Day’ balances in a month by the number of days in that month.
Please refer the following illustration for the calculation of AMB.
Sample Bank Statement:
Sr. no.
|
Date
|
Narration
|
Withdrawal
|
Deposit
|
Closing balance
|
1
|
January 1st, 2012
|
Opening Balance
|
|
|
Rs. 10,000/-
|
2
|
January 10th, 2012
|
ECS Credit-VD
|
|
Rs. 10,000/-
|
Rs. 20,000/-
|
3
|
January 16th, 2012
|
Cash Withdrawal
|
Rs. 5,000/-
|
|
Rs. 15,000/-
|
4
|
January 25th, 2012
|
Cheque Deposit- MICR Clearing
|
|
Rs. 20,000/-
|
Rs. 35,000/-
|
5
|
January 28th, 2012
|
HPCL Petrol Pump POS 43860000000012
|
Rs. 1,000/-
|
|
Rs. 34,000/-
|
6
|
January 30th, 2012
|
Cash Deposit Mumbai
|
|
Rs. 9,000/-
|
Rs. 43,000/-
|
7
|
January 31st , 2012
|
Funds Transfer
|
Rs. 25,000/-
|
|
Rs. 18,000/-
|
AMB Calculation:
Sr. No.
|
Time Period
|
Calculation
|
Amount (Rs.)
|
1
|
EOD Balance from January 1st, 2012 to January 9th, 2012
|
Rs. 10,000/- x 9
|
Rs. 90,000/-
|
2
|
EOD Balance from January 10th, 2012 to January 15th, 2012
|
Rs. 20,000/- x 6
|
Rs. 1,20,000/-
|
3
|
EOD Balance from January 16th, 2012 to January 24th, 2012
|
Rs. 15,000/- x 9
|
Rs. 1,35,000/-
|
4
|
EOD Balance from January 25th, 2012 to January 27th, 2012
|
Rs. 35,000/- x 3
|
Rs. 1,05,000/-
|
5
|
EOD Balance from January 28th, 2012 to January 29th, 2012
|
Rs. 34,000/- x 2
|
Rs. 68,000/-
|
6
|
EOD Balance for January 30th, 2012
|
Rs. 43,000/- x 1
|
Rs. 43,000/-
|
7
|
EOD Balance for January 31st , 2012
|
Rs. 18,000/- x 1
|
Rs. 18,000/-
|
|
Total EOD balances for the month January 2012
|
|
Rs. 5,79,000/-
|
|
Divide by the no. of days in the month
|
|
31
|
|
Average Monthly Balance (AMB)
|
|
Rs. 18677.42/- |
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In what ways can I track my savings account?
You have access to a number of channels to track the transactions in your savings account:
- Physical account statements are sent quarterly for Edge/Pro/Ace savings accounts
- Mini statements through the ATM
- Email and Mobile alerts
- Savings Account balance enquiry through SMS
- View savings account details & transactions through Net Banking
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