average monthly balance vs average daily balance
average daily balance. The average amount that exists in an account over a period of time. The number is calculated by adding the daily balances over a period of time and dividing by the total number of days in that period. Used in the average daily balance method for determining interest. â You should try and come up with a good average daily balance and figure out how to achieve it when you can.
AVERAGE MONTHLY BALANCE CALCULATOR. Our calculator enables you to calculate the Average Monthly Balance (AMB) required to be maintained in your account based on inputs provided by you. 1  Step 1: Kindly select the type of account, your required product balance, and the month & year.  then click on Submit.