2. (Botany) any of the main branches of a tree. 3. a branching or projecting section or member; extension. 4. a person or thing considered to be a member, part, or agent of a larger group or thing. 5. chiefly Brit a mischievous child (esp in limb of Satan or limb of the devil) 6. out on a limb. a. in a precarious or questionable position.
Minimum daily balance. In banking, a minimum daily balance is the minimum balance that a banking institution requires account holders to have in their accounts each day in order to waive maintenance fees[disambiguation needed].
To calculate your monthly interest charge, the bank takes the 18% APR and divides it by 12 months for the year. That comes to 1.5% of the average daily balance for the month. The average daily balance is a method of leveling out the amount you owe, which may fluctuate from day to day because of payment and purchases. The calculations to determine average daily balance sound complicated, but they're really rather simple.