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what are demand deposits? what are …

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what are demand deposits? what are their advantages?

    • Posted by Muruga Doss 5 years, 11 months ago

    CBSE > Class 10 > Social Science
    • 1 answers

    Gaurav Seth 5 years, 11 months ago

    A demand deposit account is a bank account where you can withdraw any time you want, without paying any additional charges for it.

    The advantages of demand deposits are:

    Flexibility of Withdrawals: As the name suggests, you can ‘demand’ money for withdrawal any time you want, so you have liquidity of funds.

    No Extra Fees: Withdrawal from a demand deposit account does not have any encashment charges.

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