Get premium membership and access questions with answers, video lessons as well as revision papers.

What is a demand deposit?

      

What is a demand deposit?

  

Answers


Kavungya
Is an account held at a bank/other financial institution, the funds deposited in which are payable on demand. The primary purpose of demand deposit is to facilitate cashless payments by means to cheques/ Electronic Fund transfer (EFT).
Kavungya answered the question on March 26, 2019 at 05:22


Next: An iron rod XY is placed inside a coil of wire. What type of magnetic pole is induced at the end x when the current...
Previous: An un-insulated copper wire XY lies over the fixed wire A and B connected to a battery when the key in the circuit is closed,...

View More Monetary Theory and Policy Questions and Answers | Return to Questions Index


Learn High School English on YouTube

Related Questions