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demand deposit

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Demand Deposit
An account from which deposited funds can be withdrawn at any time without any notice to the depository institution.

Notes:
This account allows you to "demand" your money at any time, unlike a term deposit, which cannot be accessed for a predetermined period (the loan's term).

Most checking and savings accounts are demand deposits, accessible by the account holder at any time.

demand deposit
A checking account balance held at a financial institution. Because demand deposits constitute one of the most important segments of the nation's money supply, the financial community closely monitors their size. Compare time deposit. See also M1.
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