The QAB is calculated by adding the Closing Day Balances and dividing the sum by the number of days in the quarter. For a simple understanding, if the QAB of your account is Rs. 500, you need to have at least Rs. 500 in the account at the end of the day for the entire quarter.
What is quarterly average?
Quarterly Average means the average of "daily discharges" over a three month period, calculated as the sum of all "daily discharges" measured during the quarter divided by the number of "daily discharges" measured during the quarter.
How do you calculate quarterly averages?
Smart things to know about Quarterly Average Balance
- QAB is the average of the all the closing day balance of a bank account in a given quarter.
- It can be calculated by adding up all the closing day balance in a given quarter and then dividing it by the number of days in the quarter.
