What is the average monthly balance in Indian Bank?
Minimum balance to be maintained:
500 for non cheque book accounts. For cheque book operated accounts, the minimum monthly average balance shall be Rs. 1000. Savings Accounts are also opened for Pensioners and Bonafide students with lesser minimum balance.
How can I know my minimum balance in Indian Bank?
Customers have to register their number with Indian Bank to use the service. Once that is done, the customer has to give a missed call to 09289592895 to know their balance. Upon receiving a missed call from the customer, the bank will send the customer an SMS of the balance in their account.
How is average bank account balance calculated?
To find your average daily credit card balance, add the total balance due at the end of each day in a given period of time, and then divide the sum by the number of calendar days in that period. The interest rate on the credit card is then multiplied by your average daily balance.
How is monthly average balance calculated in bank?
Monthly Average Balance = Sum of closing balance for all days in a month (Day 1 + Day 2 + Day 3 +…… + Day 30) Divided by Number of Days in a month (30).
What is Indian Bank Minimum balance 2020?
To maintain an Indian Bank Savings account, you require a minimum balance of Rs. 250 for non cheque operation and Rs. 500 for cheque operation. Indian Bank personalized account number and cheque book enhances security and ensures your money is safe.
What is minimum balance?
For bank accounts, the minimum balance is the minimum dollar amount that a customer must have in an account to receive some service benefit, such as keeping the account open or receiving interest.
Which bank has zero balance?
Latest Interest Rate for Zero Balance Savings Account
| Bank | Name of zero-balance savings account | Interest rate |
|---|---|---|
| Kotak Mahindra Bank | 811 | 4% to 6% |
| Standard Chartered Bank | Basic Banking Account | 0.5% to 4.90% |
| HDFC Bank | Basic Savings Bank Deposit Account | 3.50% to 4% |
| Axis Bank | Basic Savings Account | 3.50% to 4% |
How can I check my Indian Bank statement?
You can get your Indian Bank mini statement by giving a missed call on or sending an SMS LATRAN from your registered mobile number on the Indian Bank 94443-94443 . Indian Bank Mini Statement can also be availed on Indian Bank Mobile Application.
How can I get Indian Bank statement?
Step 1: After login to the net banking portal, navigate to “My Accounts”. Step 2: Choose “Statement of Accounts”. Step 3: Select the transaction date range, format type, download type, account number and click on “Download”. Step 4: One can choose to download Indian Bank account statement PDF as well.
How do you find average balance?
How Does Average Balance Work? A simple average balance is calculated by adding up the beginning balance and the ending balance and dividing the sum by 2.
How do I get a 6 month average balance?
How to Calculate a Monthly Average Balance
- Record the account’s balance at the beginning of the period in question. …
- Record the balance at the end of the period.
- Add the values from steps 1 and 2 and divide by 2. …
- Record your account balance each day of the month.
- Add up the daily balances recorded in step 1.
What is a monthly average?
Monthly average means the arithmetic mean of all measurements taken during the month. … Monthly average means the average of “daily discharges” over a calendar month, calculated as the sum of all “daily discharges” measured during a calendar month divided by the number of “daily discharges” measured during the month.