What is the DD charges in SBI?
What are the SBI DD Charges associated?
| Limit | Charges |
|---|---|
| Up to Rs. 5,000 | Rs. 25 |
| From Rs. 5,000 to Rs, 10,000 | Rs. 50 |
| From Rs. 10,000 to Rs. 1 lakh | Rs.5 per Rs.1000 or part thereof, with minimum of Rs.60 |
| Above Rs.1 lakh | Rs.4 per thousand or part thereof, with minimum of Rs.600 and Maximum of Rs.2,000 |
Does bank charge for demand draft?
The leading banks of the nation usually levy DD charges varying from Rs 25 to Rs 50 on each demand draft, up to Rs 10,000.
What are DD fees?
The due diligence fee is a negotiable, non-refundable fee a buyer may pay for the negotiated due diligence time period. The due diligence fee is paid directly to the seller. Earnest money is money that the buyer gives the seller to show your good faith when making an offer to purchase the seller’s property.
How are demand draft charges calculated?
To calculate the demand draft charges per Rs. 1,000, For example, if the Demand draft is of the amount RS. 12,000, the Demand Draft charges will be 12,000 * 0.005 = Rs.
How can I cancel my SBI demand draft?
The customer is bound to fill a proper DD cancellation form.
- This form for cancellation can be received from the bank’s branch. You simply have to ask any of the officials at the bank for the DD cancellation form.
- After you have finished filling the form, submit it together with the original demand draft at the bank.
What is the validity of a demand draft?
How Long is a DD Valid? As per the Reserve Bank of India’s (RBI) guidelines, a demand draft is valid for 3 months from the date when the draft was issued by the bank. After the third month, you can re-validate the DD upon written request to the issuing bank.
Can demand draft be refunded?
Yes, a demand draft can be cancelled and refunded if it is done within the stipulated time. The DD is refunded to the applicant in cash or is credited to the account, depending upon the payment method used. However, the Bank refunds the amount after deducting the DD cancellation charges.
Can we get DD amount back?
The amount will be credited into your account after the bank deducts the cancellation charge. If the demand draft has expired and has not been encashed by the payee, the amount is not automatically credited back into your account. You’ll have to write an application to the issuing bank for revalidation of the DD.
Can we cancel DD after 3 months?
In India, a demand draft is valid for a period of 3 months from the date of issue. If it is not presented within three months the Demand draft will not be valid but money will not be automatically refunded.
What happens if a demand draft is lost?
If you lost your Demand Draft, you need to sign an Indemnity Bond in stamp paper for the issuing bank. A copy (photo or Xerox copy) can be helpful to present when you visit the bank. The bank will take some time to process the payment.