Monthly Average Balance definition

Monthly Average Balance means the average balance to be maintained for Current Accounts as notified by ICICI Bank Ltd. from time to time.
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Monthly Average Balance means, in relation to a draw Based savings account and eligibility for a prize, the average monthly balance of the account for the period relevant to any prize as determined by the Bank.
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Monthly Average Balance or “MAB” means the sum of each day-end balance in the Account for each calendar month divided by the number of calendar days for that month.
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Examples of Monthly Average Balance in a sentence

  • Current Accounts1.1 Currency and Minimum BalanceA current account can only be opened in such currency and with such minimum balance as we may stipulate from time to time.1.2 Monthly Average Balance Charge1.2.1 We will apply a monthly average balance charge on your current account, based on the average balance maintained in all your accounts with us, such as HomeVantage Current Account, SuperSaver Savings Account, SuperSaver Bond, Fixed Deposit or HiSAVE Accounts, for the respective month.

  • SAVINGS PROFIT CALCULATIONIn savings (LCY) , profit is calculated on customer’s monthly average balance.Profit rate is always quoted on per annum basis.The formula for calculating profit is:Profit = (Monthly Average Balance * Applicable Profit Rate ) / 365 * (Number of days)In Mehfooz Sarmaya FCY savings Profit calculation is on a monthly minimum balance and in FCY Savings Plus Profit calculation is on daily balance.Cash Management Services 1.

  • The Customer shall be responsible for maintaining a minimum Monthly Average Balance (“MAB”) during a month, as applicable to the account variant and prescribed by FPBL from time to time.

  • In case of Non Maintenance of desired MAB (Monthly Average Balance), the bank shall have discretion to downgrade the account to appropriate product variant in line with the MAB maintained hitherto.

  • Faysal Sahulat Current Account / Faysal Asaan Current AccountAll customers maintaining Monthly Average Balance of Rs.50,000/- or more in Faysal Sahulat Current Account and Faysal Asaan Current Account, will be eligible for:vFree Cheque BooksvFree Pay Orders/ Demand DraftsvFree Duplicate Bank Account Statements2.

  • We may charge you a fall below fee if the amount in your Account falls below the stipulated Monthly Average Balance (“MAB”).

  • If your Monthly Average Balance falls below $1,500 you will earn .50% in cash back for the month.

  • Eligible Customer: Existing CustomersDescriptionAmount of FeeRemarks Monthly account keeping feeAUD5.00 USD5.00 HKD30.00 CNY30.00 Per monthThis fee is waived if your Monthly Average Balance is equal to or above the Minimum Balance set out below*.Account closure within 6 months from the account opening dateAUD30.00 USD20.00 HKD100.00 CNY100.00 Per account This fee will be applied if there is no additional account with the Bank.

  • Monthly Average Balance is calculated based on the aggregate of the total end-day outstanding balance over the total number of days in the month.

  • We undertake to keep MAB ( Monthly Average Balance) in the account as prescribed under the respective account scheme and agree to pay the penalty if MAB is not maintained.


More Definitions of Monthly Average Balance

Monthly Average Balance. (“MAB”) means the average of available balance in the Account for each particular calendar month based on the Bank’s record.
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Monthly Average Balance or “MAB” means the sum of each Day-end balance in an Account for every day in the month divided by the number of days in that month as stipulated in Clause 3.4.
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Related to Monthly Average Balance

  • Monthly Average means the highest allowable 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 that month. For Fecal Coliform Bacteria (FCB) or E-Coli, report the monthly average.

  • Average Monthly Limit means the maximum allowable "Average Monthly Concentration" as defined in Section 22a-430-3(a) of the RCSA when expressed as a concentration (e.g. mg/l); otherwise, it means "Average Monthly Discharge Limitation" as defined in Section 22a-430-3(a) of the RCSA.

  • Monthly Average Subscriber Level means the average number of Subscribers of the Licensee in a particular month, as set forth in the applicable month’s Subscriber Report (refer Schedule D).

  • Average monthly discharge limitation means the highest allowable 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 that month. Compliance with fecal coliform bacteria or E coli bacteria limitations shall be determined using the geometric mean.

  • Average Contract Value means the higher of (inclusive of carbon tax but exclusive of goods and services tax) the (i) average of the total amount payable by the Consumer to the Retailer based on the average electricity consumption of three (3) months (before the date of termination) or (ii) the total amount payable by the Consumer to the Retailer based on the Declared Monthly Consumption.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • Accumulation Period Factor means, for any Collection Period, a fraction with:

  • Adjusted Pool Balance means, on the Closing Date, an amount equal to:

  • Highest Average Compensation means the average Compensation for the three (3) consecutive years of Service with the Employer that produces the highest average. A Year of Service with the Employer is the twelve (12) consecutive month period identical to the Plan Year.

  • Total Monthly Excess Spread As to any Distribution Date, an amount equal to the excess if any, of (i) the interest on the Mortgage Loans received by the Servicer on or prior to the related Determination Date or advanced by the Servicer for the related Remittance Date (net of Expense Fees) over (ii) the sum of the amounts payable to the Certificates pursuant to Section 4.02(a)(i) on such Distribution Date.

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • Basic Monthly Earnings means your monthly rate of earnings from the Sponsor in effect immediately prior to the date Disability or Partial Disability begins. However, such earnings will not include bonuses, commissions, overtime pay and extra compensation.

  • Accumulation Period Amount means $41,666,666.67; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in the definition of “Accumulation Period Amount” in the Indenture Supplement.

  • Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of the Collateral Loans as of such date is less than or equal to seven (7.0) years.

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such date is equal to or greater than 5.00%.

  • Monthly Salary Rate means the amount agreed to by Owner that can be used on Applications for Payment throughout the Construction Phase to account for the monthly salary costs of Contractor’s salaried personnel assigned to the Project. A Monthly Salary Rate must be established for each salaried person and must be approved in writing by Owner in advance of any Application for Payment for that person. The Monthly Salary Rate is for convenience only and any payments made for Contractor’s personnel are subject to audit to determine the actual cost of the wages and allowable employer contributions incurred by Contractor for services performed. The initial Monthly Salary Rate is included in Exhibit “G” attached to this Agreement.

  • Planning Period Balance means the entire period of time remaining in the Planning Period following the month that a monthly auction is conducted.

  • Monthly Earnings means your gross monthly income from your Employer, not including shift differential, in effect just prior to your date of disability. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Volume Weighted Average Price means, for any security as of any date, the daily dollar volume-weighted average price for such security on the Primary Market as reported by Bloomberg through its “Historical Prices – Px Table with Average Daily Volume” functions, or, if no dollar volume-weighted average price is reported for such security by Bloomberg, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported in the "pink sheets" by Pink Sheets LLC.

  • Weighted Average Floating Spread means, as of any date of determination, the number, expressed as a percentage, obtained by summing the products obtained by multiplying, in the case of each Floating Rate Portfolio Investment included in the Borrowing Base, on an annualized basis, the Spread of such Floating Rate Portfolio Investments, by the outstanding principal balance of such Floating Rate Portfolio Investments as of such date and dividing such sum by the aggregate outstanding principal balance of all such Floating Rate Portfolio Investments and rounding the result up to the nearest 0.01%.

  • Maximum Contract Value means the amount specified in the "Limitation of Expenditure" clause set out in the Contract; and

  • Remaining Weighted Average Life of an Equipment Note, at the redemption date of such Equipment Note, means the number of days equal to the quotient obtained by dividing: (i) the sum of the products obtained by multiplying (A) the amount of each then remaining installment of principal, including the payment due on the maturity date of such Equipment Note, by (B) the number of days from and including the redemption date to but excluding the scheduled Payment Date of such principal installment by (ii) the then unpaid principal amount of such Equipment Note.

  • Valuation Percentage means, for any item of Eligible Collateral, the percentage specified in Paragraph 13.

  • Calculation Period means the period from and including the seventh scheduled Index Business Day prior to the Stated Maturity to and including the second scheduled Index Business Day prior to the Stated Maturity.

  • Average Contribution Percentage means the average of the Contribution Percentages of the Eligible Participants in a group.

  • Monthly Distribution Date means the "Distribution Dates" set forth under "Summary of Essential Financial Information--Estimated Distributions" in the Prospectus Part I for a Trust.