One of the most reputable and trusted methods for paying someone or conducting business with someone is a demand draft. A demand draft has been around for a while, and it is still the most common way to pay formal institutions in the era of digital transactions. Almost all banks have the option to create a demand draft, typically for a small fee. Existing Canara Bank customers and former Syndicate Bank customers whose accounts have merged with Canara Bank issue Canara Bank demand drafts.
By visiting the bank, a demand draft can be generated immediately after payment of the required charge. However, with the advent of the digital era, it is now also possible to order a demand draft online. The Canara Bank DD form can be downloaded from a variety of websites, allowing clients to use the service whenever they need it. A consumer only needs to submit a request for an online demand draft to do this.
DD Form Canara Bank
You need to approach the branch of the bank and request for a DD form, or download it online and fill it up.
Details on the form must be provided by the applicant, including the type of payment (cash or cheque). Additionally, the recipient of the demand draft, the amount transferred, the location where the demand draft will be redeemed, the cheque number, the last four digits of the personal bank account, the signature, etc.
Demand Draft Fees: Depending on the size of the DD, the bank will inform you of the Canara Bank DD fees that apply, which you must pay when submitting the DD form.
PAN Card Information: There is a requirement to produce the PAN card if the DD amount exceeds Rs. 50,000 and you want to pay with a cheque.
Canara Bank DD Charges
You need to incur a minimum cost while making a DD. The DD Charges for Canara Bank are as follows:
|AMOUNT||NON INDIVIDUAL||INDIVIDUAL (NON-RURAL)||INDIVIDUAL (RURAL)|
|Up to Rs. 1000||Rs. 40||Rs. 30||Rs. 25|
|Rs. 1000 to Rs. 10000||Rs. 50||Rs. 40||Rs. 35|
|Above Rs. 10000||Rs 4 per Rs. 1000||Rs. 3.50 per Rs. 1000||Rs. 3.50 per Rs. 1000|
A DD stays valid for three months after which it can be revalidated once.
There are separate charges for cancelling the DD, Revalidating the DD or issuing a duplicate DD. They are:
|TYPE OF SERVICE||CHARGES|
|Cancellation||Up to Rs 10 Lakhs – Rs. 100 per instrument Above Rs 10 Lakhs – Rs. 1000 per instrument|
|Revalidation||Up to Rs. 10 Lakhs – Rs. 100 per instrument Above Rs. 10 Lakhs – Rs. 1000 per instrument|
|Issuance of duplicate DDs||Up to Rs. 5 Lakhs – Rs 100 per instrument Above Rs. 5 Lakhs – Rs. 1000 per instrument|
Canara Bank DD : FAQs
A single DD can only be issued for amounts under Rs. 1 crore. If more than Rs. 1 crore is needed, multiple DDs would be issued and commission will be collected per draft, as appropriate.
No. DD Cancellation and Refund can only be availed at the branch in which the DD was issued.
No. DDs cannot be revalidated after six months have passed since the date of issuance.
You can find them offline at the branches or online on the website.
A DD Cancellation letter must be addressed to the Branch Manager of the Bank.