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Difference between term deposit and demand …

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Difference between term deposit and demand deposit

    • Posted by Sandeep Sandhu 5 years, 11 months ago

    CBSE > Class 12 > Economics
    • 3 answers

    Nagasaki Ali 5 years, 11 months ago

    Demand deposit are the deposit which we can withdraw any time acc . to our need And time deposit which we cannot take or withdraw before the specific time period

    0Thank You

    Yogita Ingle 5 years, 11 months ago

    Demand deposits are the deposits which can be withdrawn on demand at any point of time. Also these are chequable deposits, i.e. cheques can be drawn against such deposits.
    On the other hand, time deposits are the deposits which cannot be withdrawn before a specified period of time. These deposits are non-chequable, i.e. one cannot draw cheques against such deposits.
    It includes:
    (i) Fixed deposits
    (ii) Recurring deposits

    0Thank You

    Ramesh Dhaka 5 years, 11 months ago

    Term deposit for a fix period of time and can notbe issued by ussing cheaque and demand deposite in which money can be withdrawn by issuing cheaque

    0Thank You

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