Question

Why are the deposits of bank called demand deposits??

Answer 1

bcoz.....when we have more money we put it into back.... but when we needed.....we get it on demand......so......the deposits of bank are called demand deposit...........hope helps❤️❤️❤️

Answer 2

Hello mate
Demand deposits. The sum of money that is given to a bank but can be withdrawn as per the requirement of the depositor. Amounts that are lying in the savings and current accounts are known as demand depositsbecause they can be used at any point of time.