Definition:
Demand Deposit
Back to Finance Glossary | Previous Page
The term demand deposit refers to checking account services that allow depositors to write checks to pay for goods and services.The depository institution offering this service must honor the check immediately upon presentation.
Demand deposits are not meant to earn interest or for savings, but for the convenience of a business or person to perform transactions. Therefore, demand deposits usually do not bear interest.
Latest Articles Related to Demand Deposit
Back to Finance Glossary | Previous Page
This web site is intended only to convey information. It is not to be construed as an investment guide or as an offer or solicitation of an offer to buy or sell any securities. The author has taken all usual and reasonable precautions to determine that the information contained in this website has been obtained from sources believed to be reliable.