BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A demand deposit account (DDA) is a bank account from which deposited funds can be withdrawn at any time, without advance notice. DDA accounts can pay interest on the deposited funds but aren’t required to. Checking accounts and savings accounts are common types of DDAs.

Detailed explanation-2: -Demand deposit account definition A demand deposit account is another term for a checking, savings or money market account. Money in these accounts is highly liquid, and you’ll be able to withdraw funds at any time without paying the bank a penalty.

Detailed explanation-3: -An interest checking account is a checking account that pays interest on its funds. Most accounts generate their interest monthly and the bank pays it by adding that amount to the account automatically.

Detailed explanation-4: -Many traditional checking accounts don’t earn interest. And most checking accounts that do pay interest pay at very low rates, with strings attached, such as a higher minimum balance requirement.