The money that is in the form of currency and checkable deposits in commercial banks is called demand deposits.
A type of non-confidential money or fund held in commercial banks in demand accounts. These deposits are easily available for withdrawal. There is no need for prior notice for its withdrawal.
Demand deposits can be defined or explained simply as deposits that can be withdrawn at any time without the need for any application. These deposits can be made in saving accounts. Savings accounts can have joint owners. The easy part about demand deposits is that any of the account holders can withdraw funds from them.
Thus, demand deposits are the money in the commercial banks in the form of currency and checkable deposits.
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