what are demand deposit ? explain any three features of it ? (5 marks )
.... no scamming .....
....its important .....
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hey!!
________
☆MEANING :-
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☆ peoples with extra money deposit it in the banks by opening a bank account in their name.
▪ Banks accept the deposits and also pay an interest rate on the deposits.
▪In this way people’s money is safe with the banks and it earns an interest.
▪People also have the provision to withdraw the money as and when they require.
☆ In short term meaning:-
__________________
Since, the deposits in the bank accounts can be withdrawn on demand, these deposits are called demand deposits.
☆ FEATURES:-
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1. They have the essential characteristics of money that is of a medium of exchange.
▪They eliminate the Double Coincidence of wants are a store of value make transactions easier and are a standard for deferred payments.
2. They are closely linked to the working of the modern banking systems.
3.People's money remains safe when they are placed in the bank in the form of deposits.
▪Peoples also earn rate of interest through demand deposits.
hope help u!!
____________________
________
☆MEANING :-
____________________
☆ peoples with extra money deposit it in the banks by opening a bank account in their name.
▪ Banks accept the deposits and also pay an interest rate on the deposits.
▪In this way people’s money is safe with the banks and it earns an interest.
▪People also have the provision to withdraw the money as and when they require.
☆ In short term meaning:-
__________________
Since, the deposits in the bank accounts can be withdrawn on demand, these deposits are called demand deposits.
☆ FEATURES:-
____________________
1. They have the essential characteristics of money that is of a medium of exchange.
▪They eliminate the Double Coincidence of wants are a store of value make transactions easier and are a standard for deferred payments.
2. They are closely linked to the working of the modern banking systems.
3.People's money remains safe when they are placed in the bank in the form of deposits.
▪Peoples also earn rate of interest through demand deposits.
hope help u!!
____________________
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