Instruction for using Average Balance Calculator :-

1. Allowed date formats are DD/MM/YY, DD/MM/YYYY, DD-MM-YY, DD-MM-YYYY.
2. Allowed amount format are 50,000.56 and 500000.56
3. Copy-paste date and amount in the respective boxes. You can copy-paste data directly from your bank statement which is in Excel or CSV format.
4. Make sure the number of entries in the date and amount boxes are equal.
5. You can enter required average balance to find the additional funding required for completing the shortage of funds as on current date. Also, if any excess funds that you can withdrawn on different dates are shown.
6. You can also enter the opening balance of the month if the system is considering it 0.
7. Use Value date (Not transaction date) as banks considers value date for calculation Average Monthly/Quarterly balances.

Average Monthly Balance/Average Quarterly Balance

Most of the banks required their customers to maintain minimum balances in their accounts. The balance is calculated as average of the balance standing in the account at end of the day. The average is generally taken on monthly basis for savings accounts and quarterly basis for current accounts.

Bank charges are generally levied on the basis of the average balance actually maintained in proportion to the average balance required. The bank charges are very high for not maintaining average balance so use this calculator and keep the balance maintained.

This calculator also show the amount which is required to be deposited on a particular date so that balance will be maintained.

While calculating average balances, holidays are also considered.

Some banks also termed it as Monthly Average Balance (MAB) or Quarterly Average Balance (QAB).

In overdraft accounts and cash credit accounts, there may be a condition of using minimum of a pre-defined percentage of amount on average basis for every month or quarter. You can also use this calculator to calculate that average amount.