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.

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This question "In context with banking, the Average daily balance is a term related to" was published on GKToday on May 18, 2015 at 1:21 pm. For Current Affairs Questions Archive Click Here. For General Knowledge Questions Archive Click Here.

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  • babitha
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    plz send
    current affairs to the mail