Q. What is an Average Monthly Balance (AMB)?
A. Average Monthly Balance refers to the average closing balance maintained in a Bank Account over the course of a month.
Q. How is the Average Monthly Balance (AMB) calculated?
A. The Average Monthly Balance (AMB) is calculated by adding the closing balance for each day of a given month and dividing it by the number of days in that month.
Example:
April 1-April 10
10
15,000
150,000
April 11-April 18
8
10,000
80,000
April 19-April 25
7
5,000
35,000
April 26-April 30
5
25,000
125,000
Total Number of Days
30
390,000
The Average Monthly Balance for April will be 390000 / 30 = Rs. 13,000.
Q. What is the Minimum Balance requirement for Shivalik Bank Current Account?
A. Shivalik Bank offers different variants of Current accounts with varying minimum balance requirements. To know the specific minimum balance requirement for the type of account you are interested in, click here.
Q. What are the features of Shivalik Bank Current Accounts?
A. Shivalik Bank Current accounts are uniquely designed to provide a hassle-free banking experience with a host of benefits. Through digital services, you can instantly and securely pay bills, check your balance, transfer funds, or review your bank account statement anytime and anywhere. To know the unique features of each variant of the Current account, click here.
Q. From where can I check the applicable charges for various services offered in Current Account?
A. The applicable charges for various services offered in different variants of Current Account can be viewed on the Bank’s website and are also displayed in our branches. To check the Schedule of charges, click here.
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