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what are demand deposits? what are their advantages? |
| Answer» A demand deposit account is a bank account where you can withdraw any time you want, without paying any additional charges for it.The advantages of demand deposits are: Flexibility of Withdrawals: As the name suggests, you can ‘demand’ money for withdrawal any time you want, so you have liquidity of funds.No Extra Fees: Withdrawal from a demand deposit account does not have any encashment charges. | |