Make Demand Draft in SBI : State Bank of India is undoubtedly the largest and most trusted bank in India. When you open a bank account in SBI, you are provided with a lot of banking products and options. There might be a case when you may need to issue a demand draft in SBI. A lot of people are aware of the method to make a demand draft from SBI. However, a lot of people still are unaware about the process. You don’t need to worry as today we will tell you how to issue or apply for a demand draft in SBI. Both Offline and Online process to make a Demand Draft in SBI are easy and does not take much time of yours.
In this Article, we will tell you how to :
- What is a Demand Draft(DD) ?
- What are the Uses of Demand Draft ?
- Make a Demand Draft in SBI Online
- Make a Demand Draft in SBI by Branch Visit
How to make a Demand Draft in SBI ?
Before we tell you the process to issue a demand draft in SBI, let us tell you what a demand draft is.
What is a Demand Draft(DD) ?
Demand draft is a negotiable instrument which is issued by a bank that directs the other bank or one of its own branches to pay a sum of money to the payee (to whom the amount is to be transferred). In the case of a demand draft the two concerned parties are drawer (bank or any financial institution), and the payee (to whom the amount is to be transferred). Demand Draft is used to transfer money from one place to another which cannot be transferred just by a hand delivery.
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How to make a Demand Draft in SBI Online ?
In order to issue a Demand Draft in SBI Online, you need to follow the step by step procedure given below :
1) Login to Online SBI by using your Internet Banking Username & Password.
2) Click on Payments/Transfers tab in Top Menu.
3) Click on Issue Demand Draft option under Other Payments/Receipt.
4) Enter your Profile Password and Click on Submit.
5) Select the Account Number which you want to use to make a Demand Draft and enter the following :
Amount : Enter the Amount of which Demand Draft is to be made.
In Favour of : Enter the Name of the Account Holder in whose favour the Demand Draft is to be made.
Purpose : Enter the Purpose of making the Demand Draft.
Note : Demand Draft Limit can be changed by clicking on Change Limit button at the top of this page.
6) Enter the Following Details :
Branch Code : Enter the 5 Digit Branch Code for the branch at which the demand draft is payable.
Branch Name : Enter the Branch Name for the branch at which the demand draft is payable.
Delivery Mode : Select the Delivery Mode of the Demand Draft from the options given below :
- Collect in Person : Select this Option if you want to collect the Demand Draft from your Home Branch within working hours.
- Courier : Select this Option if you want to receive the Demand Draft at your registered address. Note : Rs 57.25 (Including Service Tax) will be added to the commission amount. Courier Charges for delivery of demand draft by courier – Rs.50/- + Service Tax.
7) Finally, Click on Submit & you’re done!
How to make a Demand Draft in SBI Offline by Branch Visit ?
In order to issue a Demand Draft in SBI by Branch Visit, you need to follow the step by step procedure given below :
1) Visit any SBI Branch in you city.
2) Ask for a Demand Draft Application Form from the Customer Help Desk Counter.
3) Read the below mentioned conditions and procedure to get a DD from SBI in case you have a Bank Account with SBI or you don’t.
(a) If you have a Bank Account in SBI : You just need to fill up the Demand Draft Application form and tick mark on Account Payee.
(b) If you do not have a Bank Account in SBI : You can carry the money in cash which can be used to make a demand draft. Fill up the Demand Draft Application form and mention all details including the denomination of cash used for making the Demand Draft
Important Note : If the amount is more than Rs.50,000/- then you need issue a cheque to the SBI (from whatever bank your account is). PAN should also be provided in such a case. Commission charges are extra. Do remember that you cannot make a DD in cash above Rs.49,999/-.
You can collect your DD within 5-10 minutes. If you are submitting a cheque, you may be asked to collect your Demand Draft after your Cheque gets encashed by SBI.
Final Words :
You might have noticed that making a demand draft in SBI is quite an easy task. Both offline and online process to issue a demand draft in SBI are equally simple. Depending upon the ease and convinience you are free to use any of the two processes to apply for demand draft in SBI.
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