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Which of the following is classified as a demand deposit?

easy Q11 of 15
Banking Awareness - Types Of Bank Accounts
Which of the following is classified as a demand deposit?
ASavings Account
BFixed Deposit Account
CRecurring Deposit Account
DTerm Deposit Account
Step-by-Step Solution

  1. Step 1: Recall the meaning of demand deposit.

    Demand deposits allow withdrawal without prior notice.

  2. Step 2: Identify matching account type.

    Savings accounts allow money to be withdrawn on demand.

  3. Final Answer:

    Savings Account → Option A

  4. Quick Check:

    Anytime withdrawal = Demand Deposit ✅
Quick Trick: Anytime withdrawal points to demand deposit.
Common Mistakes:
MISTAKES
  • Confusing fixed deposits with demand deposits.
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