Demand draft is one of the payment instruments used in India. Popularly known as DD, it is a pre-paid negotiable instrument where the drawee bank takes the responsibility of making the payment when the DD is presented by the payee.
In order to receive the payment, you need to present the DD to the concerned bank branch or have the instrument collected through the clearing mechanism.
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How to get Demand Draft
In order to get a DD, you need to fill a form and submit it to the bank authorities.
Methods available for filling the DD Form
There are two available methods when it comes to filling a DD form. They are:
Process involved in making a Demand Draft
- Fill the DD form
- Pay the DD charges in cash or cheque.
- Quote your PAN number if the DD amount exceeds Rs.50,000.
What are details that need to be provided in the DD Form?
- Name of the applicant
- Name of the recipient in whose favour the DD is to be issued
- City name where the DD is payable
- Bank Branch name where the DD is made
- DD amount
- Service fee of the bank
- Signature of the applicant
- Particulars of the money deposited
Contents of a Demand Draft
A Demand Draft contains the following contents:
- Date of Issue of the instrument
- Name of the drawee bank and branch
- MICR code of the bank branch
- Name of the drawee
- Payable amount in words and figures
- A unique six-digit demand draft number
- Signature of the authorised signatory of the branch where the DD is prepared
- If you are looking to make a DD in order to pay someone, the aforementioned details will come in handy. If you have any other queries regarding DD forms, you can contact the bank authorities for the same.
Check about Demand Draft
|Demand Draft Charges||Difference Between Demand Draft and Cheque||Demand Draft|
|Demand Draft Cancellation||Demand Draft Number||Demand Draft Clearance Time|
Check IFSC Code for Top Banks:
|State Bank of India IFSC Code||HDFC Bank IFSC Code||Indian Bank IFSC Code|
|Axis bank IFSC Code||Canara bank IFSC Code||ICICI Bank IFSC Code|
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