What are demand deposit?What are the 3 advantages?
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1) Banks accept deposited and also pay an amount as interest on the deposits. In this way, people's money is safe and also earn an amount of interest. 2)People have the provision to withdraw money as and when they require. 3)Demand deposit also supports cheque facilities making big money transactions easier
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Answer:
1) Banks accept deposited and also pay an amount as interest on the deposits. In this way, people's money is safe and also earn an amount of interest. 2)People have the provision to withdraw money as and when they require. 3)Demand deposit also supports cheque facilities making big money transactions easier.
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