Question

Differentiate between demand deposits and fixed deposits.

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 Demand deposits can be withdrawn at any time whereas fixed deposits can be withdrawn only after the expiry of a specific period.

Answer 2

Answer:

Intrest rate on demand deposite is very low.

Demand deposite are chiquable means they can be withdrawn through any cheques.

Demand deposite can be withdrawn at any time.

Fixed deposite carry a higher interest rate.

Fixed deposite can be withdrawn only after the expiry of a specific period.

Fixed deposite are not chequable.

Explanation:

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