Demand deposits and accounts are for those, who wish to save money by observing no maturity terms. The demand deposit is suitable for providing your child with funds, when he/she becomes to an age or on another occasion (e.g. becoming a school or university student). They are also appropriate for saving money for your retirement.
A distinguishing feature of the demand deposits is that they are bound to no maturity, unlike the term deposits. Certainly, the interest they bear is lower than the one accrued on term deposits, but this is mainly due to their special purpose - accumulating funds.
General terms for opening, maintenance and closing og individual accounts (available in Bulgarian)