The Quarterly Average Balance (QAB) is the minimum average balance that a bank account holder needs to maintain in their savings account over a period of three months. If the account holder fails to maintain the minimum QAB, the bank may impose a penalty. The minimum QAB varies across banks and locations, and banks keep changing the limits, so it is important to keep track of the MQB limit. Bank of Baroda (BoB) is one such bank that has increased its minimum QAB that has to be maintained in its Advantage Savings Account. The minimum QAB for Advantage Savings Account for urban and metro branches is being increased from Rs 1,000 to Rs 2,000 and for semi-urban branches, the minimum QAB is being increased from Rs 500 to Rs 1,000. However, there is no change for accounts in its rural branches.

It is important to note that some banks offer zero-balance accounts called Basic Savings Bank Deposit accounts, which come with basic features and do not require maintaining a minimum balance. However, such accounts have limited transactions.

In summary, QAB balance in Bank of Baroda refers to the minimum average balance that an account holder needs to maintain in their savings account over a period of three months. The minimum QAB varies across banks and locations, and banks keep changing the limits, so it is important to keep track of the MQB limit.