What are demand deposits? What are its features.
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Answered by
8
Demand deposits are the deposits made banks, which can be withdrawn on our demand.
features:
1.) demand deposits can be withdrawn from bank whenever we want.
2.) they are widely accepted as the means of payment, similar to currency.
3.) they are closely linked in the working of the modern banking system. they earn an amount of interest.
features:
1.) demand deposits can be withdrawn from bank whenever we want.
2.) they are widely accepted as the means of payment, similar to currency.
3.) they are closely linked in the working of the modern banking system. they earn an amount of interest.
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Answered by
5
A demand deposit consists of funds held in an account from whichdeposited funds can be withdrawn at any time from the depository institution, such as a checking or savings account, accessible by a teller, ATM or online banking.
features:-Bank deposits consist of money placed into banking institutions for safekeeping. These deposits are made to deposit accounts such as savings accounts, checking accounts and money market accounts.
features:-Bank deposits consist of money placed into banking institutions for safekeeping. These deposits are made to deposit accounts such as savings accounts, checking accounts and money market accounts.
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