A Demand Draft, commonly known as DD, is a secure means of transferring funds from one bank to another. It serves as a negotiable instrument that assures payment of a designated sum to the specified payee. Solely issued by banks, individuals cannot create a DD independently. These drafts find significant use when dealing with unfamiliar parties, as they provide a reliable payment method. The issuing bank (drawee) generates the demand draft for its client (drawer) to pay the specified amount to the designated recipient (payee). In this article, we will discuss about Central Bank of India DD form, CBI DD charges, and others.
Central Bank of India issues a Central Bank of India DD to its customers as well as non-customers. The Bank collects a nominal fee for issuing a demand draft which has to be paid along with the amount for which the demand draft has to be generated. The list of Central Bank of India DD charges is given below:
For Central Bank DD through a savings account
Up to Rs. 10000/: Rs. 50
Above Rs. 10000/: Rs. 4/- per 1000/- and part thereof. Minimum: Rs. 50/- Maximum: Rs. 15000
For Central Bank DD against cash
DDs against cash are issued only for an amount below Rs. 50000/- The Central Bank DD Charges for DDs against cash will be 50% over and above the normal fee. For instance, if the normal DD charge is Rs. 50/-, the charges for a DD against cash will be Rs. 75/-
No Central Bank of India DD charges will be collected for issuing a demand draft as a part of loan disbursement or term deposit/PPF maturity proceeds
Central Bank of India DD Charges for Revalidation/Cancellation/Duplicate DD
The bank does not charge differently for the revalidation/cancellation of a DD or the issuance of a duplicate DD. The combined charges are as given below:
For DDs through savings account: Rs. 100/- per instrument
For DDs against cash: Rs. 250/- per instrument.
The essential fields in the Central Bank of India Demand Draft are:
- Payee’s name (DD in favour of)
- Amount in words and figures
- DD payable place
- Unique DD number
- Signature of the official issuing the demand draft
- ‘Account Payee’ crossing.
Any incomplete detail will render the DD invalid and will be rejected on presenting for payment. Check for the correctness of the details before you leave the branch.
The Central Bank of India DD form is used to apply for a demand draft from any branch of the bank. The DD form can be collected from any of the Central Bank of India branches. Alternatively, you can download the Central Bank of India demand draft form pdf from various online platforms. If you download the form, you can fill in the details and go equipped with the application for the purchase of the DD, which will save ample time.
For the bank to issue a demand draft with all the essential fields, you will have to provide the details to the bank by filling out the DD form of Central Bank of India with all the details and submitting it along with a cheque. The essential fields are the ones given below:
- Date of the DD request
- Name of the issuing branch
- DD payable on (Name of the city where DD is payable)
- Name of the payee (recipient’s name)
- Address of the payee
- Reasons for the payment
- DD amount in words and figures
- Central Bank DD charges in figures
- The total amount in the figures
- Your name (if you are the applicant)
- Your address
- Your mobile number
- Your signature.
Tender the Central Bank of India DD form at the branch counter along with cash or a cheque. For debit from your savings account, mention your account number in the DD application form.
The most important document for availing of the Central Bank of India DD is the b.
You can avail of the DD form at any branch of the bank or can download the Central Bank of India Demand Draft form pdf from various online platforms.
- Fill out the DD application form by mentioning the date of the request, payee’s name and address, DD payable on (city name), DD Amount, Bank charges, Total amount, Applicant’s name and address, Applicant’s mobile number.
- Affix your signature and submit the Central Bank of India DD form at the counter along with the amount by way of cash or cheque (cheques issued to accounts within the bank only have to be given or can mention the account number in the application form).
- The branch will verify the details provided in the form and will issue the demand draft.