Example of forms like withdrawal banks , deposit banks, order of purcgase
Answers
Explanation:
The Certificate of Deposit (CD) is an agreement between the depositor and the bank where a predetermined amount of money is fixed for a specific time period
Issued by the Federal Deposit Insurance Corporation (FDIC) and regulated by the Reserve Bank of India, the CD is a promissory note, the interest on which is paid by the bank
The Certificate of Deposit is issued in dematerialised form i.e. issued electronically and may automatically be renewed if the depositor fails to decide what to do with the matured amount during the grace period of 7 days
It also restricts the holder from withdrawing the amount on demand or paying a penalty, otherwise. When the Certificate of Deposit matures, the principal amount along with the interest earned is available for withdrawal
hope it helps you
Answer:
Examples of demand deposit accounts include regular checking accounts, savings accounts, or money market accounts. [Important: Demand deposits and term deposits differ in terms of accessibility or liquidity, and in the amount of interest that can be earned on the deposited funds.]