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Bank Deposits

Demand deposits

Deposit refers to the money that a bank receives from a customer, which can be withdrawn at any time by the customer. In banking terms, this is known as a demand deposit, as it can be accessed at the depositor's discretion. These types of deposits are typically found in savings and current accounts. This means that the depositor has the flexibility to use the funds whenever needed, making it a convenient option for managing day-to-day expenses.
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