Punjab National Bank demand draft or a banker’s cheque is a prepaid instrument provided by PNB to its customers as well as non-customers. It provides a secure and safe mode for money transfers, institutional fees payment, real estate transactions, and many more. PNB DDs are a reliable and efficient mode of payment. The drawee Bank makes the payment to the beneficiary only and through the account of the beneficiary. This ensures that the funds reach the right person and eliminates the possibility of wrong credit or fraud. Fill in the required details in a prescribed DD form and obtain the DD on paying the DD amount along with PNB Bank DD charges.
What Is a Demand Draft?
A demand draft is a prepaid financial instrument issued by a Bank on behalf of the payer. The bank instructs another Kotak bank branch to pay a specified amount to the beneficiary. The drawer has to deposit the money in advance to obtain a demand draft. The beneficiary is ensured of getting the payment on presenting the demand draft, unlike cheques where the payment may be rejected for want of funds.
Demand drafts are sought-after payment modes when the funds involved are significant, for a deal between unknown parties, and institutional and business payments. The guaranteed payment and the trust element is the reason for preferring demand draft for various transactions. Also, the DD no on demand draft PNB helps in tracking the status of the demand draft as well as serves as a source of reference for a transaction history when there is a query.
Different Types of PNB Bank DD Charges
PNB Bank DD charges are different for issuing a demand draft, for revalidation/cancellation of a DD, and for issuing a duplicate DD. Here is the list of DD charges in PNB.
PNB Bank DD charges for issuing a demand draft
Up to Rs. 10000/-: Rs. 50/-
Above Rs. 10000/- up to Rs. 1.00 lac: Rs. 4/- per 1000 and part thereof. Minimum: Rs. 50
Above Rs. 1.00 lac: Rs. 5/- per 1000/- or part thereof. Minimum: Rs. 600/-
Maximum: Rs. 15000/-
For issuance of DD against cash (DD amount less than Rs.50000/- inclusive of the DD charges in PNB): 50% over and above the normal applicable charges.
No charges will be levied for issuing demand drafts for loan disbursements and term deposit proceeds.
PNB Bank DD Charges for revalidation/cancellation/issue of duplicate DD
DD charges in PNB for revalidation/cancellation of a demand draft and for issue of a duplicate DD: Rs. 100/- per instrument.
For DDs purchased against cash, the PNB DD charges for revalidation/cancellation/issue of duplicate DD: Rs. 250/- per instrument.
Essential Demand Draft Fields/Details
After collecting the demand draft from the branch you should review the following essential demand draft fields.
- Name of the Beneficiary
- DD Amount both in figures and words
- DD payable location
- Date of the Demand Draft
- DD issue branch
- DD No on demand draft PNB
- Signature of the bank’s official
- Account Payee crossing (this will ensure that the amount is credited to the beneficiary’s account)
If any of the fields is incorrect, the chances of payment rejection by the payee branch are possible.
Essentially, the payee also has to check the details before accepting the demand draft for payment.
PNB Bank DD Form
The PNB Bank DD form is the primary document required for purchasing a demand draft from PNB Bank. You can either collect the PNB DD form from any PNB branch or can download the form from any online platform providing the facility.
The next step is how to fill PNB DD form. It is a very simple process. All the fields are mentioned in the DD form and you have to give the details in the relevant field. The details required will be:
- Date of the request
- Name of the issuing branch
- Name of the beneficiary
- DD amount
- PNB Bank DD charges
- DD payable location (Place where the DD is payable)
- Applicant’s account number (Your account number if you are the applicant)
- Cheque Number
- Name and address of the applicant (Your name if you are the applicant)
- Applicant’s signature
Submit the completed PNB DD form along with the cheque or cash (if the DD amount is less than Rs. 50000/-) at the DD counter. The bank official will check the details and issue a DD within a few minutes.
How to Avail PNB Bank DD?
You can purchase a DD from Punjab National Bank either by visiting the branch and submitting the PNB DD form along with a cheque at the DD counter or by placing a DD request online through mobile banking.
Purchase of PNB Bank DD by visiting a PNB branch
- Collect the PNB DD form and fill in all the required fields like name of the beneficiary, date of the transaction, name of the DD issuing branch, DD amount, DD charges in PNB, your account number, name, address, and mobile number(if you are the applicant), cheque number, and DD payable place.
- Submit the DD form after affixing your signature along with the DD amount and PNB DD charges.
- The branch will issue a demand draft after verifying all the details mentioned in the DD form.
Purchase of PNB Bank DD online
Follow the simple steps given below to obtain PNB Bank DD online
- Download and install the PNB One mobile App from Google Play Store or App Store
- If you have net banking facilities you can login to the mobile app with your net banking user ID and password.
- On the home screen of your mobile, you will see several options.
- Click on the ‘Services’ option
- You will be directed to the next interface page where you will have to click on the ‘Others’ option.
- Under ‘Others’ choose the “Request a Demand Draft’ option
- Select your ‘Account Number’
- Confirm your ‘Account Number’
- On the next screen, you will have to enter all the details required to issue a demand draft, i.e., Name of the beneficiary, amount, payable location, and the delivery mode.
- Click on the ‘Submit’ button after providing the details and enter your transaction password.
- Key in the OTP received. The demand request will be accepted and a reference number provided.
- If you have opted for obtaining the DD from a branch, you will have to produce the reference number for the branch to issue the DD.
- Otherwise, the DD will be generated and sent to your mailing address.
Punjab National Bank DD : FAQs
If you have an account in PNB bank and are depositing PNB DD for payment, the amount will be credited to your account immediately. But if you have an account in any other bank, it takes a minimum of 2 working days for the clearance as the DD has to be sent for collection by your bank to PNB Bank.
Yes. The bank will cancel the DD and refund the amount to your account. You will have to request a cancellation and bear the cancellation charges.
PNB DD is valid for 3 months from the date of issue.
Yes. A one-time extension for a further 3 months is permitted after collecting DD charges in PNB for revalidation.
Yes. You can obtain a PNB DD by placing a DD issue request through mobile banking.
