Different types of demand deposit accounts
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60 Seconds To: Demand Deposits Related Articles. It's an interest-bearing account at a bank or credit union, not to be confused with a money market mutual fund. Different types of demand deposit accounts deposits can also place additional restrictions on withdrawals, such as limiting the number of withdrawals that can be made in a statement period. At the end of the period, the depositor has the choice of withdrawing deposited funds plus earned interest, or rolling over the funds into a new term deposit. Key Takeaways Demand deposits and term deposits refer to two different types of deposit accounts at a financial institution.
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