Q/ what is meant by time deposit and demand deposit?
ROHIT CHATURVEDI
(CA Final Student )
(2298 Points)
Replied 13 August 2011
Time deposit is a type of deposit which can not be withdrawn before the maturity of certain 'term' or period of time
Whereas Demand Deposit can be withdrawn at any time......
sanju
(Accountant)
(348 Points)
Replied 13 August 2011
demand deposit is deposite can withdrawn at your demand. time deposite is deposite that you should keep your amount with bank for purticulat time ( may be according to interest scheeme)
CAclubindia
