What r demand deposits?explain its features
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A demand deposit consists of funds held in an account from which deposited funds can be withdrawn at any time from the depository institution, such as a checking or savings account, accessible by a teller, ATM or online banking.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 of Demand Deposit are÷Demand deposit accounts offer greater liquidity and ease of access as compared to term deposits but pay lower interest rates, and they may also include various fees for handling the account.
Depositors can withdraw any or all of the funds in a demand depositaccount at any time without penalty or prior notice required.
I hope that it will help you lot.
Features of Demand Deposit are÷Demand deposit accounts offer greater liquidity and ease of access as compared to term deposits but pay lower interest rates, and they may also include various fees for handling the account.
Depositors can withdraw any or all of the funds in a demand depositaccount at any time without penalty or prior notice required.
I hope that it will help you lot.
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