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CBSE Class 12-commerce Answered

What is the difference between demand and term deposits?
Asked by Topperlearning User | 18 Apr, 2016, 10:57: AM
answered-by-expert Expert Answer

Demand deposits are not for any specific period of time. They can be withdrawn as and when required.  Demand deposits are chequeable deposits.

Term deposits are always for a specific period of time. They cannot withdraw money as when required. They are not chequeable deposits as we cannot sign a cheque against these deposits.

Answered by | 18 Apr, 2016, 12:57: PM

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