| Limit Charges | Up to Rs. 5,000 Rs. 25 | From Rs. 5,000 to Rs, 10,000 Rs. 50 | From Rs. 10,000 to Rs. 1 lakh Rs.5 per Rs.1000 or part thereof, with a minimum of Rs.60 | Above Rs.1 lakh Rs.4 per thousand or part thereof, with a minimum of Rs.600 and Maximum of Rs.2,000 |
|---|
How much is the Commission for DD?
| Limit Charges | Up to Rs. 5,000 Rs. 25 | From Rs. 5,000 to Rs, 10,000 Rs. 50 | From Rs. 10,000 to Rs. 1 lakh Rs.5 per Rs.1000 or part thereof, with a minimum of Rs.60 | Above Rs.1 lakh Rs.4 per thousand or part thereof, with a minimum of Rs.600 and Maximum of Rs.2,000 |
|---|
How are DD charges calculated?
For example, if the Demand draft is of the amount RS. 12,000, the Demand Draft charges will be 12,000
* 0.005 =
Rs. 60. Similarly, if the Demand Draft is of the amount Rs.
How is DD paid?
When a bank prepares a demand draft, the amount of the draft is
taken from the account of the customer requesting the draft
and is transferred to an account at another bank. … After the draft matures, the owner of the other company brings the demand draft to his bank and collects his payment, making him the payee.
How will you take DD to pay your college fee?
Fill the form up. The form usually asks for details like- cheque number, in whose favor the DD is to be made (dean of your college in this case),your bank account number, the place (branch of bank) where your DD can be used(the place of your college) and your signature etc.
What is maximum DD limit?
| Demand Draft Amount Demand Draft Charges | Up to Rs. 5,000 Rs. 25 | Rs. 5,000 to Rs. 10,000 Rs. 50 | Rs. 10,000 to Rs. 1 lakh Rs. 5 per thousand or part thereof. (Minimum Rs. 60) | Above Rs. 1 lakh Rs. 4 per thousand or part thereof. (Minimum Rs. 600 and maximum Rs. 2,000 ) |
|---|
How long does DD clearance take?
The time frame or the clearing time of a DD varies between banks. They are usually cleared
within half an hour, or by the end of the working day
. Some banks can take up to three working days. Also, if the DD is for a large amount, it will only be credited to a bank account and not provided as cash.
How does DD work in bank?
When a bank prepares a demand draft, the amount of the draft
is taken from the account of the customer requesting the draft and is transferred to an account at another bank
. … After the draft matures, the owner of the other company brings the demand draft to his bank and collects his payment, making him the payee.
Can we make a DD online?
The demand draft can also be prepared online
. The details need to be accurately filled online and the physical demand draft can either be collected from the nearest branch of the issuing bank or can also be mailed to the registered address.
How do I write a demand draft?
- Payment mode – cheque or cash,
- Make the demand draft under whose name,
- The total amount,
- Cheque number,
- Your bank account number,
- Encashment details and.
- Your signature.
What details are required for demand draft?
You need to provide details such as
your bank account information, the full name of the payee, and the address of the payee’s bank
. You also need to provide the amount of money, the currency of the money, the reason for payment, and instructions about whether the bank should send it to you or directly to the payee.
What happens if DD is lost?
If you lost your Demand Draft, you
need to sign an Indemnity Bond in stamp paper for the issuing bank
. A copy (photo or Xerox copy) can be helpful to present when you visit the bank. The bank will take some time to process the payment.
Can DD be Cancelled?
Once you have received the completed demand draft, the money is deducted from your account. If, due to any reason, you have to cancel the demand draft,
it can only be done at the bank
. … You will be refunded the money in cash after a small deduction of 50 rupees or so.
Can DD be Cancelled if lost?
However, if the draft has been lost, stolen or destroyed,
the buyer may be able to cancel the draft by returning to his bank
, explaining that the draft is irretrievable by either himself or the seller, and presenting to the bank the reference number or a printed copy of the draft.
