why are demand deposits called so
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aadi55:
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Demand deposit :
Bank accept deposit and also pay an amount as interest on the deposits . In this way , people's money is safe with bank and also earn an interest . people have right to withdraw the money as and when they require .Since the deposits in the bank accounts can be withdrawn on demand , these deposits are called demand deposits
Bank accept deposit and also pay an amount as interest on the deposits . In this way , people's money is safe with bank and also earn an interest . people have right to withdraw the money as and when they require .Since the deposits in the bank accounts can be withdrawn on demand , these deposits are called demand deposits
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