What is the money deposited in the bank account which can be withdrawn on demand called?

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Fixed deposit

Recurring deposits

Demand deposits

Cheque

answer is C.

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Detailed Solution

The money deposited in the bank account can be withdrawn on demand, called demand deposits.
Demand deposits are ones the bank will pay back upon request or demand, as the name suggests. Business people typically hold these deposits to conduct transactions using cash deposits. Cheques can be written against them without any additional instructions. The bank does not pay any interest on these accounts, which the bank's information service charges for running discounts. Joint owners are permitted to demand deposit accounts. When starting the account, both owners must sign it. However, just one owner must sign when terminating the account. Neither owner needs the consent of the other to deposit or withdraw money or sign checks.

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