A person can deposit their money by

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Opening a bank account

Opening a demat account

Opening a mutual fund account

None of the above

answer is A.

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Detailed Solution

A person can deposit their money by opening a bank account.
A person can deposit an amount by opening an account at any bank. The bank will ask you for basic proofs like PAN number, Aadhar card number, water or electricity bill, or voter's card. After all this documentation, the bank will provide you with an account number. You can open any account in savings, current, or a fixed deposit. After the allocation of the account number, you can periodically deposit your money in the account of that particular bank and earn interest on it. Hence, this is the complete procedure of how an individual can deposit his money in the bank.

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