In situations when a party must make payment to an unidentified party in exchange for a good or service, a demand draft may be necessary. The money is deducted from the paying party’s account at the time the DD is created, making it a guaranteed payment mechanism. The money is placed in the designated bank account as soon as the receiver turns in the demand draft. Demand drafts can be issued by Axis Bank to customers and non-customers. Let us know more about Axis Bank’s demand draft in the next segment.
AXIS Bank DD Form
You can collect an Axis Bank DD Form from any of the Axis Bank Branches and you will be required to fill in certain details in the same.
Below mentioned are the details that needs to be mentioned at the time of filling the demand draft.
- On demand pay – Beneficiary’s details/Account number
- Rupees in words and numbers
- Date of issuing the demand draft
- Account number
After filling the details, you can submit the same to the bank along with the amount.
AXIS BANK DD Online
You need to follow certain steps to issue an Axis Bank demand draft online. They are:
Step 1 : Enter your login information into the Axis Bank’s online banking system. To proceed, click the login button.
Step 2 : After logging in, select “Services” from the top menu of your online banking app.
Step 3 : A drop-down menu will appear; choose “Request for” and then “Demand Draft” from the menu.
You will be prompted to choose the account from which funds will be deducted for the demand draft in the following stage. If you only have one account, that account will automatically be used to deduct the funds.
Step 4 : Enter the amount of Demand Drafts you wish to order from the bank after choosing the account.
You must include the beneficiary’s name and the city in where the DD is to be paid in this stage. Choose the delivery method from the available options, either by bank or by courier.
Step 5 : Click ‘Proceed’ after entering all the information.
The DD will be sent out after getting generated.
Axis Bank DD Charges
|Issue (At Axis Bank Locations)||15 DD Free per day, above that Rs 50 per DD|
|Issue (At other Locations)||Rs 1 per thousand, Min. Rs 25 per DD|
|Cancelation (Drawn at Axis Bank)||Rs 75 per DD|
|Cancelation (Drawn at other Banks)||Other bank charges plus Rs. 125 per DD|
|Revalidation (At Axis Bank)||Rs 75 per DD|
|Revalidation (At other banks)||Other bank charges plus Rs. 125 per DD|
|Duplicate (At Axis Bank)||Rs. 50 per DD|
|Duplicate (At other banks)||Other bank charges plus Rs. 100 per DD|
These are the charges you have to incur for your DD transactions.
AXIS Bank DD : FAQs
Axis Bank’s DD processing time ranges from 2 to 7 days. However, a DD is often created in no more than four hours.
Axis Bank does really issue intercity DD. Name and address of the drawee, name and address of the payee, name and address of the city where the DD is payable, the amount payable to the drawee (in words and figures), the fee charged by the bank, the total amount payable by the drawer to the bank in figures, the drawer’s signature, and name and address are the details that must be provided when requesting a DD.
Yes, if there is not enough money in the account, the demand draft will be refused.
A demand draft is good for three months from the day it was issued, according to the answer.
No, the demand draught may only be picked up by the recipient of the payment. No one else may get the DD, which includes the name of the person to whom money is to be sent.