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Bank Account v/s Demat Account | Detailed Explanation | Banking Awareness
In this highly informative and engaging video, Afreen Azmat explains the Bank and Demat Accounts and provides a comprehensive overview of this complex financial concept.
A bank account is a financial account provided by a bank or a financial institution where you can deposit and withdraw money. It serves as a safe place to store your funds, earn interest on deposits, and conduct various financial transactions such as paying bills, transferring money, and receiving payments. Bank accounts come in different types, including savings accounts, current accounts, and fixed deposit accounts, each with its own features and benefits.
On the other hand, a Demat account, short for "dematerialized account," is a type of account used to hold securities such as stocks, bonds, mutual funds, and exchange-traded funds (ETFs) in electronic form. In essence, it's like a digital locker for your investments. When you buy or sell stocks or other securities in the stock market, the transactions are settled through your Demat account. It eliminates the need for physical share certificates and facilitates faster and more efficient trading.
Join Afreen Azmat in this compelling video as she simplifies the complexities, providing valuable insights and empowering viewers.
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