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Funds in a bank account that may be withdrawn on demand of the customer.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 ?
In other such cases reported from the NCR, the police have found that the fake demand drafts issued were made in the name of Bank of India's Faridabad branch.
After the selection, candidate will have to submit original Demand Draft alongwith five percent of total prescribed fee as Government Tax, he said and informed that all admissions on Self Finance, that is, UEAP and UDP shall be provided purely / strictly on merit basis, according to allocation of districtwise seats as mentioned in Prospectus for
In case the Bidder submits a bid based on the downloaded document, it should be accompanied with a Demand Draft of INR 50,000/- (Rupees Fifty Thousand only) or US $850 in the form of demand draft in favour of Executive Engineer, Bahya Vitta Poshit Pariyojanayen, Water Resources Department payable at any Scheduled Bank in Bhopal, Madhya Pradesh, India.
The interested bidders shall deposit the EMD by way of Demand Draft favouring The Authorised Officer Punjab National Bank or through NEFTRTGS by 09092016 to the following Account AUTHORIZED OFFICER PUNJAB NATIONAL BANK TOWER CHOWK DARBHANGA Account No 0108002500000024 IFSC Code PUNB0010800The draft should not be of a CooperativeBank
He added that the funds are being accepted through cheques and demand drafts, while they are not accepting funds from the government employees or crooks.