Why are the deposits in the …

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Why are the deposits in the bank called demand deposits. What are the benefits of deposits with the bank

Posted by ?? Ｓ??Ιδ ?? ?? 7 years, 1 month ago

CBSE > Class 10 > Social Science

2 answers

Junaid Mansoori 7 years, 1 month ago

Because the person needs some money whose deposits in bank then he go to bank and get his money. Means. When a person needs money that he go to bank get his deposit from his account, its called demand deposit. Benefits of demand deposit with banks are the account holder earn interest something 1.5 percent on thier deposit and in demand deposit banks are sell a loan to another person and earn interest somrthing 9.5 or more percent.
I think you are not satify with the answer....

2Thank You

Shan? .Va 7 years, 1 month ago

They are called demand deposits ss they can b withdrawn with respect to demand & the benefits r ...like u get a intrest on ur amount & ..also ur money is safe then....u get debitcards so that u van withdraw ur money whenever u need by ATMs.....etc

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Posted by Shristi Pandey 1 month, 1 week ago

CBSE > Class 10 > Social Science