Question

what are the features of demand deposit​

Answer 1

Demand deposits have the following characteristics:

【▄】 Funds are payable on demand.

【▄】 Funds can be interest bearing.

【▄】 No eligibility requirements.

【▄】 No limit on the number of withdrawals or transfers.

【▄】 No maturity period.

Answer 2

Features of demand deposits:

Interest is paid by the bank on these deposits provided they are saving account deposits and not current accounts. Bank allows the owner of demand deposits to make out a cheque for a specific amount. Demand deposit owners may have joint accounts. Either owner may deposit or withdraw funds.