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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
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 They can be withdrawn as and when required.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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