In context with banking, the Average daily balance is a term related to
In context with banking, the Average daily balance is a term related to__:
[A]Fixed Deposits
[B]Loans
[C]Credit Cards
[D]Current and Saving Accounts
Current and Saving Accounts
The average balance in a deposit account, equals the sum of the daily account balances during an accounting period, usually a monthly or a quarterly cycle, divided by the number of days in the accounting period. Banks normally specify certain minimum average daily balance to be maintained in current and savings accounts.
Originally written on
May 18, 2015
and last modified on
May 18, 2015.
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babitha
July 9, 2015 at 2:11 pmplz send
current affairs to the mail