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.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
demand deposit — see deposit 2a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
demand deposit — ☆ demand deposit n. Banking a deposit that may be withdrawn on demand, without advance notice … English World dictionary
demand deposit — A deposit account that permits the depositor to withdraw funds on demand. Usually, but not always, a checking account. Sometimes called demand deposit account ( DDA). American Banker Glossary * * * demand deposit demand deposit ➔ deposit1 * * *… … Financial and business terms
Demand deposit — Banking A series on Financial services … Wikipedia
demand deposit — demand′ depos it n. bus a bank deposit subject to withdrawal at the demand of the depositor without prior notice • Etymology: 1925–30 … From formal English to slang
demand deposit — A bank deposit payable on demand or within a specified number of days after demand. 10 Am J2d Banks § 356 … Ballentine's law dictionary
demand deposit — Banking. a deposit subject to withdrawal at the demand of the depositor without prior notice. [1925 30] * * * … Universalium
demand deposit — noun a bank deposit from which withdrawals can be made without notice • Hypernyms: ↑deposit, ↑bank deposit … Useful english dictionary
demand deposit — noun Date: 1923 a bank deposit that can be withdrawn without advance notice … New Collegiate Dictionary
demand deposit — /dɪ mɑ:nd dɪˌpɒzɪt/ noun US money in a deposit account which can be taken out when you want it by writing a cheque … Marketing dictionary in english