Demand Deposit
An account from which deposited funds can be withdrawn at any time without any notice to the depository institution.

Investopedia Says:
This account allows you to "demand" your money at any time, unlike a term deposit, which cannot be accessed for a predetermined period (the loan's term).

Most checking and savings accounts are demand deposits, accessible by the account holder at any time.

Related Terms:
Account
Checking Account
Savings Account
Sweep Account
Term Deposit

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