What is qab charges

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On the contrary when the calculation is on quarterly basis, even if the customer maintains balance of Rs , just for 1 day assuming 90 days in the quarter , theoretically Nil balance can be maintained for rest of 89 days and still meet the minimum balance requirement. Banks gain when accountholders maintain balances on more consistent basis as opposed to when the balance fluctuates widely. Balances maintained on consistent basis enables banks to deploy the same for longer at higher margins.

On the contrary when balance fluctuates widely, banks would deploy the same for shorter tenor where margins would be lower. Clearly the move is not customer friendly and would impact the small savings accountholders the most. While the banks are well within their rights to tweak the balance requirement, however given the likely adverse impact on small savings account holders due to steep charges for non-maintenance of MAB which varies from Rs to Rs per month , RBI should mandate the banks to stick to QAB methodology in consumer interest.

Well explained. Keep in touch. Is it okay? Can you suggest few MF? Do check with other brokers for rates before finalising your broker. While 3 to 5 years timeframe for equity mutual funds seems okay, ideal investment horizon for equity MF in my opinion is 10 years. One might get stuck in a bad economic cycle when the investment redemption is required. In any case would suggest you to invest in good large cap fund. Refer my post in the link below to understand more:. Customers are being looted by these foreign banks.

They charge penalties on top of it service taxes. What is the full form of QAB? QAB is the average of the all the closing day balance of a bank account in a given quarter. Translate Quarterly Average Balance to other language.

Do you want to know What does QAB mean? What is the full form of QAB?. Are you looking for What does QAB mean? What is QAB stand for? On this page, We talk about the various possible acronym, abbreviation, full form or slang term of QAB. Still can't find the acronym definition for QAB? Please use our site search to look for more acronyms.