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NexGen School of Financial Market One Hundred Frequently Asked Questions on Basic Finance What is a Monthly Average Balance (MAB) and how does it affect your account?

What is a Monthly Average Balance (MAB) and how does it affect your account?

by Dr. Gaurav Sinha , Mr. Vinay Kohli  ·  Unit 20 of 100
Monthly Average Balance (MAB) refers to the average amount of money maintained in a bank account during a calendar month. Some banks require customers to maintain a specified MAB as part of the account conditions. If the average balance falls below the required level, the bank may apply service charges or penalties, depending on the account type and its terms and conditions.