A saving account is a simple, secure way to store money while earning interest and enjoying easy digital access. Below are the key benefits—short and to the point.
- Safe place for your money: Funds are protected by the bank and accessible when you need them.
- Earn interest: Savings grow over time with bank interest on your balance.
- Easy access: Withdraw or transfer via ATM, mobile banking, UPI and netbanking.
- Low or zero minimum balance: Many accounts offer zero-balance or low-balance options.
- Digital convenience: Debit card, UPI and online payments make everyday transactions simple.
- Builds financial discipline: Helps you save regularly and manage money better.
Compare interest rates, minimum balance rules and features in our saving account comparison table to choose the best account for you.
What is Monthly Average Balance (MAB) in a Savings Account — and How to Calculate it.
A simple guide + free calculator to check whether you meet your bank's minimum balance requirement.
Quick definition
Monthly Average Balance (MAB) is the average of your daily closing balances over a month. Banks often require you to maintain a minimum MAB in your savings account — otherwise they may charge a penalty.
Why it matters
- Affects whether you pay minimum-balance penalty charges.
- Some account benefits (cheque book, free debit cards) depend on MAB.
- Maintaining MAB can be necessary to qualify for certain interest slabs or offers.
Short example
If your daily closing balances for a 30-day month sum to ₹300,000, your MAB = ₹300,000 ÷ 30 = ₹10,000.
How to use this Monthly Average Balance calculator — Step by step
- Select Month and Year from the dropdown. By default the current month is selected.
- Click any date inside the calendar. A small browser prompt will open.
- Enter the closing balance for that date (numbers only or with ₹). Press OK — the amount appears below the date in orange.
- Repeat for other dates. Click a date again to edit or clear the value (clear by submitting an empty value).
- The summary box (below the calendar) updates automatically showing: Average Balance Required, Existing Average Balance, and Difference.
- To start over, click Reset.
Monthly Average Balance Calculator
Click any date to enter the day's closing balance — the calculator will show the average automatically.
FAQ
Q: How is the average calculated?
A: The calculator sums the entered daily closing balances and divides by the total days in that month (e.g., 30 or 31). Days with no entry are treated as zero.
Q: Can I edit an entered amount?
A: Yes — simply click that date again and enter a new value. Click cancel to leave it unchanged.
Best Saving Account in India 2025 – Compare & Apply Online
| Bank | Interest Rate | Minimum Balance | Open Account |
|---|---|---|---|
| SBI Savings Account | 2.5% p.a. | ₹0 | Open Now |
| HDFC Giga Savings Account | 2.75%–3.25% p.a. | ₹10,000 (AQB) | Open Now |
| Kotak 811 Zero Balance | 2.5% p.a. | ₹0 | Open Now |
| IDFC First Savings Account | 3%–7% p.a. | ₹10,000 (AMB) | Open Now |
| ICICI 3-in-1 Account | 2.50% p.a. | ₹15,000 (AMB) | Open Now |