demand deposit

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Demand Deposit

Funds in a bank account that may be withdrawn on demand of the customer. Most demand deposits are in checking accounts and savings accounts, because funds in these accounts are available to the customer at any time (unless they are under a check hold). Under the Expedited Funds Availability Act of 1987, banks in the United States must grant availability to demand deposits within a certain number of days.

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.

demand deposit

see BANK DEPOSIT, COMMERCIAL BANK.
References in periodicals archive ?
During the session, which was presided over by Speaker Raheela Hameed Khan Durrani, Mr Bizenjo presented for approval 47 demand drafts of non-development and nine of development budgets.
Demand drafts of Rs264bn for non-development and Rs88.2bn for development budgets for the next financial year were approved.
He gave his name as Naresh Sharma and opted to pay by demand draft.
The Bid Fee/Bid security in the form of demand draft or as specified in bid document shall bein favourof Executive Engineer Water Resources Division Bundi & an additional demand draft of Rs.