Demand Deposits. Demand Deposit is a type of account where a maturity is not designated beforehand and where the balance of account can be paid by the Bank to the Customer upon his demand. The Bank is free to or not to accrue and pay interests on these accounts. If interest is accrued over Demand Deposits, such interests will be compounded to the principal sum as of the year-ends. If and when rates of interest applied on these accounts are changed by the Bank or as per the applicable laws and regulations, the interest amount will be calculated over the new rate of interest with effect from the date of change, without any further notice in relation therewith. The Customer will have the right to claim back the balance of his Demand Deposit Accounts without prejudice to the provisions of the applicable laws and regulations pertaining to pledge, lien, exchange and transfer and to his powers and obligations set forth in the other laws.
Demand Deposits. (a) This is a type of account in which the amounts in the account are paid, if the Demand Account is demanded by the Client without any due date specified in advance. The amounts in the account may be withdrawn by the Client directly or by any other person indirectly based on the instructions of the Client or may be transferred in the account of the Client or any other person with another bank established in Turkey or in abroad, provided that the provisions of Article 60 of the Banks Law are reserved. However, the parties shall be obliged to honor any notice period agreed by the parties. Terms related to electronic banking transactions with that respect shall be subject to Article 5 of the Agreement.
Demand Deposits. 2.4.1. Demand Deposit is a type of account where a maturity is not designated beforehand and where the balance of account may be paid by the Bank to the Customer upon his demand. The Bank is free to or not to accrue and pay interests on these accounts. If interest is accrued over Demand Deposits, such interests will be compounded to the principal sum as of the year-ends. If and when rates of interest applied on these accounts are changed by the Bank or as per the Applicable Laws and Regulations, the interest amount will be calculated over the new rate of interest with effect from the date of change, without any further notice in relation therewith. The Customer will have the right to claim back the balance of his Demand Deposit Accounts without prejudice to the provisions of the Applicable Laws and