Question
The type of account which is opened by the investor
while registering with an investment broker (or sub-broker) is called __________.Solution
DeMat Account:Â This account is opened by the investor while registering with an investment broker (or sub-broker). Fixed deposit account or time deposit account:Â It is a financial instrument provided by banks which provides investors with a higher rate of interest than a regular savings account, until the given maturity date. NOSTRO Account:Â A bank account held by a UK bank with a foreign bank, usually in the currency of that country. Recurring Deposit Account:Â It is opened by those who want to save regularly for a certain period of time and earn a higher interest rate. Saving Account:Â A deposit account held at a bank or other financial institution that provides principal security and a modest interest rate.Â
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