A report on producer for opening various types of account
Answers
The aim for opening any type of bank account is to keep the money in safe hands for a later use. Basically, there are three types of bank accounts.
They are (i) Savings Account, (ii) Current Account, and (iii) Demat Account.
A Savings Account is usually used by individuals to keep their money in a bank and is a most primary type of bank account. It can easily be opened in India by providing an ID card and a valid address proof.
A Current Account is usually kept by a business and opening it may require some proofs of the business like it's registration number, PAN Card details of the business and the owner's credentials.
A Demat account can be opened by anyone who wants to trade in shares. It is basically a tool for efficient share trading. It can be opened by providing details of a person or a private company and the transaction of shares can be done through the account.