Which type of deposits with the banks are called demand deposits?

cbse10

#1

Which type of deposits with the banks are called demand deposits? State some important features of demand deposits.


#2

Those deposits in the bank accounts that can be withdrawn on demand, are called demand deposits.
Some importantfeatures of demand deposits are
(i) Demand deposits are accepted widely as a means of payment by way of a cheque along with currency.
(ii) They are closely linked to the working of the modern banking system. Such deposits earn an amount as interest.