A Demand Draft is a popular mode of fund transfer between accounts. Unlike a regular cheque, it is a prepaid instrument that bears the guarantee of the issuing bank. It is issued by a bank to a client directing another bank (the bank where the client deposits the DD) to pay the specified amount to the beneficiary. Being hard to counterfeit, it is a secure means of transfer since it is paid upfront, giving no scope for bouncing unlike cheques.
The Bank of Maharashtra Demand Draft is a prepaid instrument issued by the bank. It allows customers to transfer funds securely and conveniently from their account to another account within the Bank or any other Bank. The demand draft is issued on payment of the transaction amount along with the Bank of Maharashtra DD charges. The demand draft has the details of the recipient, the city where it is payable, and the amount payable. It is used by individuals and organisations for making payments, settling bills, or for any business transactions. Since the payment is guaranteed it is a reliable choice for receiving any remuneration whether personal or business.
The Bank of Maharashtra DD charges for issuing a Demand Draft is:
Rs. 100/- per instrument. No charges will be charged if the Bank of Maharashtra Demand Draft is issued directly to the contractor/supplier/vendor as a part of loan proceeds.
For DD cancellation
The Bank of Maharashtra DD charges for the cancellation of a DD will be:
- Up to Rs. 500/-: Free
- Above Rs. 500/-: Rs. 150/- per instrument
When you approach the Bank of Maharashtra branch for purchasing a DD you will have to collect the Bank of Maharashtra Demand draft form from the branch and fill up the following details. You can also download the Bank of Maharashtra DD form pdf from the Bank’s website and submit it to the bank branch along with a cheque or cash after filling in the following essential fields
- Name of the branch
- Date of request
- Payee’s Name and address
- DD amount in words
- DD amount in figures
- Bank of Maharashtra DD charges in figures
- The total amount in figures
- DD payable on city name
- Your mobile number
- Your name and address
The bank will verify the details and on collecting the amount will issue the demand draft.
The Bank of Maharashtra Demand Draft form can be either collected from the Bank branch or the Bank of Maharashtra DD form pdf can be downloaded from the Bank’s official website. The fields that are provided in the form are
- Date of the transaction
- The DD payable on city name
- Beneficiary Name
- Bank of Maharashtra DD charges
- Total Amount
- Transaction Account Number (Applicant’s account number)
- Name and address of the applicant
- Mobile Number of the applicant
- Signature of the applicant
If the DD is against cash, the denominations also have to be filled in the denomination column.
There will also be an acknowledgement part where you will have to fill up the date, payee’s name, and amount. This acknowledgement will be given to you with a reference number and the signature of the bank official. In case of any query, you can submit this acknowledgement for reference.
How to Avail Bank of Maharashtra Demand Draft?
You can avail of the Bank of Maharashtra Demand Draft both offline as well as online.
Click here to download the Bank of Maharashtra DD Form- https://bankofmaharashtra.in/writereaddata/documentlibrary/0fc0e78b-a31d-4c0d-953e-ab8cfd79736a.pdf
Purchase of DD offline
The procedure to purchase DD offline is:
- Collect the application form from the bank branch or download the form from the official website of the bank.
- Fill up the relevant fields and submit the application along with cash or a cheque at the designated counter.
- If the DD amount has to be debited to your account at the Bank of Maharashtra Bank, you should mention the debit account number.
The official of the bank will verify the details and issue the DD after collecting the DD amount along with the Bank of Maharashtra DD charges either in cash or by debiting your account.
Purchase of DD online
The procedure for purchase of DD online is:
- Login to your Internet Banking account through the Mahasecure app that you have downloaded onto your desktop
- Enter the Mahasecure MPIN and click on ‘Submit’
- On the next page, you will find a list of options
- Click on the ‘Internet Banking’ option
- Login in with your net banking credentials
- You will be directed to the Internet Banking dashboard
- Select the ‘Service Request’ option on the dashboard
- Click on the ‘Demand Draft’ option
- Choose the account number for debit
- Under the ‘In favour of’ option, enter the beneficiary name
- Enter the amount along with the service charges (you can click on the service charges option and view the charges for the transaction amount)
- Specify the name of the ‘Payable at branch’
- The mode of delivery will be ‘In Person’. You will have to collect the DD from the branch. Click on the submit button
- On the confirmation page, review the details entered. If correct, enter the transaction password and click on the ‘confirm button’
- The request will be registered and a reference number will be provided
- You can take a screenshot of the reference number or note down the reference number
- On producing the reference number at the bank branch, the DD will be issued.
Bank of Maharashtra DD Charges FAQs
When you request a demand draft through Internet Banking, you will be provided with a reference number. If you produce the reference number at the bank branch on the next day, the branch will issue the demand draft immediately.
Bank of Maharashtra demand draft can be purchased against cash only up to Rs. 50000/- as per RBI guidelines. For DD above Rs. 50000/- the amount should be through a bank account only.
You should give a written request for cancellation to the issuing branch. The validity period for the demand is 3 months. The DD after the expiry period will be revalidated for further 3 months and then the DD cancelled and a fresh DD issued.
Yes. If you give a written request to the issuing branch, the DD will be cancelled and the amount re-credited to your account.
Yes. Bank of Maharashtra issue demand drafts for non-customers also. Since non-customers can purchase DD against cash only, the DD cannot be issued for an amount exceeding Rs. 50000/- For amounts above Rs. 50000/- the amount should be only through transfer from an account which is possible only if an account is at the issuing branch or any other branch of the Bank.
You can connect with BOM customer care at 1800 233 4526 for resolving queries related to bank accounts, DD, online transactions and others.