A Demand Loan is a type of loan that the lender can require to be repaid at any time, with often little to no advance warning to the borrower.
A Home Equity Line of Credit (HELOC) is a type of home equity loan that provides an account from which the borrower can draw funds as needed, similar to a credit card. It allows for flexible borrowing based on the home's equity with interest accruing on the actual borrowed amount.
