Question

Difference between fixed deposit and demand deposit

Answer 1

Answer:

Differences between demand deposits and fixed deposits are as follows:

Interest rate on demand deposits is very low whereas fixed deposits carry a higher interest rate.

Demand deposits can be withdrawn at any time whereas fixed deposits can be withdrawn only after the expiry of a specific period.

Demand deposits are chequable, i.e. they can be withdrawn through cheques, whereas fixed deposits are not chequable

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Answer 2

Explanation:

Differences between demand deposits and fixed deposits are as follows: Interest rate on demand deposits is very low whereas fixed deposits carry a higher interest rate. Demand deposits can be withdrawn at any time whereas fixed deposits can be withdrawn only after the expiry of a specific period.