• A short term deposit (STD) account is a running account with amounts being paid into and drawn out of the account continuously. 

• These accounts are called Demand Deposits or Demand Liabilities since the banker is under obligation to pay the money in such deposits on demand.

• These accounts are generally opened by Business Organization, Public Institution, Corporate Bodies. 

• An STD account may be opened by an individual person.

• It is an interest bearing deposit. Interest is calculated on daily basis as per Banks Prescribed Rate and is credited to account on half yearly basis.

         Current interest rate on STD account  is presented in the following table: