QAB charges stand for Quarterly Average Balance charges, which are a requirement for certain savings accounts. If you fail to maintain the minimum balance, the bank may charge you a maintenance fee. The QAB charges depend on the type of savings account you hold with the bank and the location or branch of the bank. The QAB is subject to change, and you can check it with your local bank branch or the banks official website.

For example, Punjab National Bank (PNB) has decided to increase the penalty for current account holders who don’t keep up with their quarterly average balance (QAB) . The non-maintenance QAB charges will be charged to current general and PNB Smart Banking accounts, per the new tariff. The charges for non-maintenance of QAB in Current and PNB Smart Banking Current Account and QAB in Current Account were revised in 2016.

QAB charges are calculated by computing the average balance on a quarterly basis, i.e., once every three months. The QAB requirement is not to maintain a balance every single day, but on average. Under QAB, the bank computes the average balance on a quarterly basis.

In summary, QAB charges are a fee charged by banks for not maintaining the minimum balance required for certain savings accounts. The charges depend on the type of savings account and the location or branch of the bank. The QAB is calculated by computing the average balance on a quarterly basis.