Question

Difference between fixed deposit and demand deposit

Answer 1

Answer:

demand deposit can be withdrawn at any time whereas fixed can not be taken,interest rate on demand is very less but fixed carry high interest rate,demand deposit are chequable but fixed are not chequable.

Answer 2

Answer:

Fixed deposite -

• Higher interest rate.
• fixed deposite can withdrawn only after the expiry of a specific period.
• Fixed deposite are not chequable

Dimand deposite -

• Low and fixed interest rate.
• Dimand diposite can be withdrawn at any time.
• Dimand deposite are chequable.