Average balance for last 6 months

[Abhii.7]

Hi guys,

Can anyone of you please tell what's meant by "average balance for the past 6 months":

a) balance at the end of (April+May+... September) divided by 6, or
b) average balance in April + average balance in May + ...... September.

Thanks very much.

 

[achan88]

Total over six months divided by six will be your average 6-month balance.

 

[Abhii.7]

Total over six months divided by six will be your average 6-month balance.

Thanks mate, another quick question as it might turn out to be critical for my application and I haven't found a reasonable answer for this as yet.

I have an education loan (in the range of 20 lakhs), which my Dad, who happens to be the co-borrower, pays every month and I transfer him money time to time.

Since I have to declare it, I'm kinda skeptical as to how it will affect my application? I received an ITA on August 8 and almost on the verge of submitting my final documents. Is it going to be a major concern? I'll provide statements from my Dad and declarations from the bank that he's been regularly paying it from his account. You reckon it's gonna be enough?

Thanks for your time.