1. Demand deposit refers to a kind of bank deposit that depositors can deposit, withdraw and transfer at any time without prior notice. Its forms include checking account, certified check, promissory note, traveler's check and letter of credit. Rmb demand deposit 1 yuan, and the initial deposit amount of foreign currency demand deposit is not less than 20 yuan equivalent to foreign exchange.

2. Time deposit refers to the currency or currency that the depositor temporarily transfers the right to use to the bank while retaining the ownership. Cash and current savings deposits can be directly applied for time savings deposits. The initial deposit for a fixed account is 50 yuan, and there is no deposit limit.

Second, interest rates are different.

1, the deposit interest rate is low.

2. The interest rate of time deposit is much higher than that of current deposit, and the annual interest rate of the shortest three-month deposit is also much higher than that of current deposit.

So generally speaking, the longer the deposit period, the higher the interest rate. If the remaining money is not used in the short term, it is recommended to deposit it regularly, so that you can get more interest.

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Time deposit is a kind of deposit in which the bank and the depositor agree on the term and interest rate in advance at the time of deposit and withdraw the principal and interest after maturity. It has the characteristics of minimum deposit period of 3 months, maximum deposit period of 5 years, wide choice and stable interest income.

Demand deposit refers to a kind of bank deposit that depositors can deposit and withdraw at any time without prior notice. Its forms include checking account, certified check, promissory note, travel payment and letter of credit.

To sum up, the demand is to carry it with you, and the interest is extremely low; Time deposits can only be withdrawn after maturity, and the interest is high. The older generation likes to save.