How to transfer Money from Savings to Demat Account?

Many people are so new to the stock market that they even don’t know How to transfer Money from Savings to Demat Account?

In this Article, I will show you that how you can transfer money from your Savings to Demat account. Well, first of all let me tell you that Savings account and Demat account both are different things. Before buying stocks or Mutual Funds, you have to transfer your money into Demat Account.

There are broadly 2 ways by which you can transfer money from Savings to Demat Account.

01) By writing a Cheque in favour of your Demat Account -

This is the simple and age old technique. In this, you have to write a cheque in favour of your Demat account & hand it over to your broker. Your Broker will deposit a cheque in your Demat account and than you can start trading in the stock market. But for this you have to wait 24 hours. It takes 24 hours to transfer your money from your savings to Demat account.

02) Online Transfer -

This is more simpler and easier way to transfer money from your Savings to Demat account. I personally use this method of transferring my money from savings to Demat account. For this, you must have online trading account. I personally use ICICIDirect.com Demat account & ICICI Bank Savings account. So all I need to do is, login into my ICICIDirect.com account and within few clicks I can transfer my funds between my savings & Demat account.

If you have Online trading account with any of Sharekhan.com, IndiaBulls.com, Religar.com or any other Brokers than you can transfer funds easily.