Guide: Finding Out the Monthly Average Balance of Your Bank Account

Pop quiz: if you deposit S$100,000 on 25th April 2025 followed by another S$20,000 on 29th April 2025 in a bank account offering 4% p.a. interest, how much interest would you expect to receive?

Many banks (maybe all?) use your Monthly Average Balance (MAB) to calculate the interest accrued within a calendar month, so knowing how to calculate this is a useful thing for you to know how much interest a particular bank account would give you.

Calculating the MAB

As the name suggests, Monthly Average Balance is the average balance in your account for the month. You can derive the MAB with this formula:

MAB = Sum of Daily Balance ÷ No. of Days in Month

So to answer the question at the start of this article, we first need to add up the sum of the balance every single day:

Date	No. of Days	Balance
1st to 24th April 2025	24	S$0
25th to 28th April 2025	4	S$100,000
29th to 30th April 2025	2	S$120,000
Total	30 days	4 × S$100,000 + 2 × S$120,000 = S$640,000

The MAB is therefore:

MAB = S$640,000 ÷ 30 days = S$21,333.33

Depending on how your bank accrues and calculate interest, your interest at 4% p.a. should be around S$70.13 (4% ÷ 365 × 30 × S$21,333.33)

Some banks show you the MAB

Here are the ways I know on how to get the MAB for various banks. Do let me know if you have other methods.

UOB One

Go to your UOB app → Accounts → Tap on your UOB One account → Interest tracker → Select month

Unfortunately, this is retrospective and I’m not sure how to get the current month’s MAB aside from manually calculating.

OCBC 360

Log in to OCBC’s online banking website and go to your account. You will see the MAB for the current month and this is usually delayed by one day:

Standard Chartered

Log in to StanChart’s online banking website → eStatements & eAdvices (top right corner drop-down menu next to your name) → View PDF

The MAB for the month will be shown, though this is retrospective.

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Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.

He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.

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