Political Science, asked by vidya60, 1 year ago

what is meant by demand deposits?

Answers

Answered by JoyDubey

★ Answer:

→ Deposits with the bank against which customer can make several payments in a day and gets no interest income is called demand deposits.

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Answered by harsh95239

Explanation:

A demand deposit is an account with a bank or other financial institution that allows the depositor to withdraw his or her funds from the account without warning or with less than seven days' notice. Demand deposits are a key component of the M1 money supply calculated by the Federal Reserve

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