2007-02-16 03:24:47 · 5 answers · asked by megha 1 in Business & Finance ➔ Personal Finance
Saving account : Money saved
Demat account : Money Invested
2007-02-16 06:31:08 · answer #1 · answered by Jai 3 · 1⤊ 0⤋
Hey,a Saving Account is that account in a Bank where people deposit and withdraw their money.Normally,if you or your parents or any relative or known has a account in the bank through which they deposit and withdraw their money normally by Cheque or ATM then it's an Saving Account.
A Demat account is related with the Share-Market Accounts.See,if there is an individual who wants to spend money in the share-market then he must have to open a saving-account then he will be able to open a Demat account to invest in the share market.The Agents of different Banks are related to open these kinds of accounts.
Now,dont' laugh but the agents related to open the Demat Accounts always try to grab the agents related with Saving,Salary and Current Accounts so that they can know the address of those persons and Conveince them to have a Demat Account.
So,now you know?
Saving Account-An account requires to deposit and withdraw money in the Bank.
Demat Account-An account requires to invest money in the Share-Market.
I am Swaraj Singh Dhillon,Branch Manager of ICICI Bank in Amritsar.
2007-02-16 03:54:00 · answer #2 · answered by ROBIN HOOD 1 · 1⤊ 0⤋
a savings account is where you can keep all your money as compared to a demat account where you can hold all you shares and bonds in a dematerialised form.
A savings account can be operated singly but for a demat account you need to have a savings account
2007-02-16 03:35:50 · answer #3 · answered by aquarianabhi 2 · 0⤊ 0⤋
As the previous answer suggests, the demat, or the DP account helps you hold the securities, while the trading account helps you to buy and sell shares. If you want to buy/sell shares, you will need both of them: a trading account and a DP account. You will place a buy/sell order on the online trading website. If you are buying shares, the money will be deducted from your bank account (which you have "attached" with the trading account), and the shares will be deposited in your DP account. Similarly, if you are selling shares, shares will be debited from your DP account and the money will be deposited in your bank account.
2016-05-24 06:52:05 · answer #4 · answered by Anonymous · 0⤊ 0⤋
To my little understanding, Saving account is the account you can open with a small amount of money and you can withdraw money from it anytime you wish to withdraw. and you will be going to put money all the time. why, dormant account is when you leave your account for 1year without going to put money non withdrawing from it, it be come dormant, you have to re-open it before you can start to use it again. that is , it you are talking about dormant account.
2007-02-16 03:47:42 · answer #5 · answered by Anonymous · 0⤊ 0⤋