Sign In
Ask Question
History
Adelyn Jones
27 March, 19:59
What is a demand deposit why is it called that
+3
Answers (
1
)
Brenden Whitehead
27 March, 20:49
0
The demand deposit is an account with any commercial bank or financial institute which allows a user or a depositor to withdraw and use the funds without informing or asking permission from bank.
Explanation:
As the word only suggest that the deposits to a bank that can be used at any time which is normally referred as the demand deposit. It is very necessary for the consumers to meet daily needs and expenses.
The benefits involve zero per cent interest, there is no barrier on number of transactions, no eligibility is required, and funds can be paid and withdrawen on demand. Checking account is a very good example of it that allows one to withdraw at any time.
Comment
Complaint
Link
Know the Answer?
Answer
Not Sure About the Answer?
Get an answer to your question ✅
“What is a demand deposit why is it called that ...”
in 📙 History if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Boreal forests in Siberia Russia are most similar to what area in North America? A. The Sierra Nevada region B. The region stretching from Alaska to Newfoundland C. The Southern Appalachian region D. Neurospora habitats of western North America
Answers (1)
During the 1800s, supporters of Manifest Destiny would have been most in favor of? A. closing the frontier to settlement. B. ceding the Oregon territory to Russia. C. ending the American system. D. acquiring land west of the Mississippi River.
Answers (2)
What are the Three L's of power in the 1500
Answers (2)
The vertical axis of a demand curve shows the price of a product. the supply of a produci. the interest in a product. the production cost of a product.
Answers (1)
How did the spanish make money in the new world
Answers (2)
New Questions in History
Which statement would be best fit into this historical narrative
Answers (1)
How did the Industrial Revolution impact imperialism? a. The European population dropped drastically and they needed workers in the colonies. B. industry improved Europe's economy so much that imperialism greatly decreased c.
Answers (1)
Describe how president jackson reacted to the supreme court decision supporting the cherokees' rights
Answers (1)
How did the civil rights movement begin?
Answers (1)
In three decisions in the early 1800s whose power were backed by the supreme court?
Answers (1)
Home
»
History
» What is a demand deposit why is it called that
Sign In
Sign Up
Forgot Password?