Average Balance

Average Balance

The balance still owed on a loan or line of credit over a period of time. One calculates the average balance by adding the balance at the beginning of an accounting period to the balance at the end and dividing by two. It is also called the average daily balance.
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To become eligible customers need to maintain a minimum monthly average balance of OMR 100 for the daily general, children's, and women draws; the monthly children and branch draws; as well as the Children's Draw at year's end.
The average balance of loans increased 24% to $1.6 billion for the third quarter of 2018, as compared to the third quarter of 2017.
The eligibility for the weekly and monthly prize draw is RO100 minimum weekly/monthly average balance in the Hibati savings account.
The government-owned SBI, which re-introduced the penalty on deposits going below monthly average balance basis from April 2017, collected nearly half the amount raised by the 24 banks put together (Rs49.89 billion).
So keep saving with Commercial Bank you could become our first Save & Win millionaire!" All Commercial Bank customers with a minimum average balance of QR 10,000 each month in their basic 'Current' or 'Savings' account are automatically entered into the monthly electronic draw.
Keep on saving with Commercial Bank and you could be our first Save & Win millionaire." Hussain stated that "life teaches us all kinds of lessons and we never know what is coming next." His advice to everyone, especially the younger generation, was "to learn how to balance between being objective and subjective, to think rationally before spending money, and to invest in the right place." All Commercial Bank customers with a minimum average balance of QR10,000 each month in their basic current or saving account are automatically entered into the monthly draw.
The youngest savers-20 through 24-had an average balance of $4,200.
Interest income increased by USD109,000 due to a USD13.7 million increase in the average balance of loans, and an increase in the average rate earned on investment securities to 2.15 percent in the current year quarter from 2.01 percent in the prior year quarter, partially offset by a decrease in the average rate earned on loans to 4.34 percent in the current year quarter from 4.43 percent in the prior year quarter, and a USD10.8 million decrease in the average balance of investments.
New customers must ensure they have a monthly average balance of at least AED35,000 in their account at all times, it said.
Approximately 10 000 accounts per annum second placement debts with an average balance per debt of GBP 640 00,
Research from Scottish Friendly shows 6.3million children have CTFs with an average balance of PS1,409, but more than half of parents don't know about the changes that come into effect from April.
Average balance statements for 401(k) plans are among Carrington's least favorite statistics.

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