How do the demond deposits offer facilities
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Deposits which can be withdrawn by the borrower on demand at any time they like are called Demand deposits. They provide a lot of facilities. They also charge a small rate of interest to the deposit and this way people can ensure that their money is safe with the banks.
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- Demand deposits provide the money consumers need for purchasing daily expenses, where funds can be withdrawn at any time from the depository institution. Demand deposit accounts can have joint owners, where both owners must sign to open the account, but only one account holder has to sign to close the account.
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