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Distinguish between :Demand deposit and Time depos...
1.
Distinguish between :Demand deposit and Time deposit.
Answer»
Demand Deposits
Time Deposits
(a) Deposits that are withdrawable on demand are known as demand deposits.
(a) Deposits that are repayable after a certain period of time are known as time deposits.
(b) Example :
1. Current Account
2. Saving Account
(b) Example :
1. Recurring Deposits
2. Fixed Deposits
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