How can I get DD from Indian bank?

How can I get DD from Indian bank?

There are two ways of issuing a demand draft in Indian Bank just like other banks. One is to visit the bank and do it in person. The other is to use the online banking services and fill the form online. Most customers prefer the manual method of issuing a demand draft and collecting it.

What is DD number in Indian bank?

What is Demand Draft Number? The DD number is a 6-digit numeric code, or a serial number found at the bottom of the instrument and next to it is the Magnetic Ink Character Recognition (MICR) code. The DD number is just like a cheque number, a unique code is used to complete each transaction.

Where is DD number in demand draft of Indian bank?

The DD number is right there in your demand draft, at the bottom of the check. At the bottom left hand side you will see a long number, however you don’t need to enter the entire number when asked for the DD number. This is only a small part of that big number.

What is the charge for DD?


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)

Is Cheque required for DD?

The Demand Draft can be made by paying the Bank in Cash as well, but for Demand Drafts exceeding Rs. 50,000 the payment should be by cheque only. Quoting your PAN No. is also necessary in case the value of the DD is more than Rs. 50,000.

Can I take 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 you fill a DD?

The left counterfoil is much easier to fill, the details of which are as follows:

  1. Mention the branch name where you are applying for demand draft.
  2. Tick the draft option.
  3. Mention the date on which you are applying for demand draft.
  4. Mention your name under “Applicant Name”.
  5. Mention the amount of DD under “Amount” space.

How can you tell a fake DD?

You should always request for a photocopy of the Demand Draft and verify it with the issuing bank. The Bank will confirm if it is genuine or fake. Regardless the sale is null and void if the DD is fake and more importantly you can file a cheating case (Though it probably wont go further than a police negotiation).

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 do I deposit DD?

How to Encash Demand Draft

  1. The person who receives the demand draft has to present the draft to his/her bank branch.
  2. The bank asks for specific documents to initiate the payment procedure.
  3. Once the documents are verified, the amount is transferred to the bank account of the individual.

Is cheque required for DD?

What are DD charges for issuing a demand draft in Indian Bank?

There is a certain charge which needs to be paid for issuing a demand draft. Let us check out Indian Bank DD charges which a customer is required to pay: For individuals: Up to Rs 1 lakh, Rs. 3.50 per Rs. 1000/- (Min. Rs 20/- Max.

What is a DD in banking?

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.

What is a direct deposit (DD)?

It is issued by a bank and is drawn by a “Drawer” who makes the payment. The drawer instructs the bank to make a payment to a specific person or an organisation called “Payee” (the one who receives the cash) when it is presented. Unlike cheque payments, the bank cannot deny the payment due to insufficient funds when a DD is presented.

Can a DD payment be denied due to insufficient funds?

Unlike cheque payments, the bank cannot deny the payment due to insufficient funds when a DD is presented. This is because DD is a prepaid payment instrument and the Drawer would have paid for it already.