Answer:
Demand deposit: Deposits in the bank account which are payable on demand are called demand deposits. Features of demand deposits are;
(i) People have the provision to withdraw the money as and when they require. (ii) Interest is paid by the bank on these deposits (If they come under saving account deposits - i.e. personal accounts and not business account/ current account). (iii) Bank allows the owner of demand deposits to make out a cheque for a specific amount.
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