Question
Distinguish between demand deposits and fixed deposits.
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Answer
(i) Demand deposits are payable on demand either through cheque or otherwise. Fixed deposits are payable only after the expiry of the specified period.
(ii) Demand deposits do not carry interest whereas fixed deposits carry high rate of interest depending upon the time period.
(ii) Demand deposits do not carry interest whereas fixed deposits carry high rate of interest depending upon the time period.
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