Demand Deposit (Noun)
Meaning
A bank deposit from which withdrawals can be made without notice.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The bank offered a demand deposit account with a competitive interest rate and no monthly maintenance fees.
- She kept her emergency fund in a demand deposit account, where she could access the money at any time.
- The company's treasurer managed the firm's demand deposit account, making sure there was always enough cash on hand to meet payroll.
- The demand deposit account was linked to his debit card, allowing him to make purchases and withdraw cash as needed.
- The bank's demand deposit accounts were insured by the government, protecting depositors' funds up to a certain amount.