SBI Demand Draft is a safe and reliable way you can pay to an individual or institution. This is especially useful in circumstances when check or online transfer is not possible. The process of making demand draft in State Bank of India (SBI) is simple, but it is necessary to fill the form correctly. In this article, we will tell you how to fill the form of SBI demand draft and what documents will be required for it.
To get SBI demand draft, you have to go to your nearest SBI branch and get a demand draft form from there. To fill this form, you have to give some necessary information, such as the recipient’s name, amount, and the method of payment. Apart from this, you will also have to provide identification proof and bank account details. The validity of SBI Demand Draft is usually 3 months, and it also levies a fee, which varies according to the amount.
Demand for draft process in SBI
Use the information below to understand SBI Demand Draft Process:
| Description | Acquaintance |
| What is demand draft | A safe and authorized financial certificate that is issued by the bank. |
| Objective | Used for various financial transactions. |
| Validity | There is usually a validity of 3 months. |
| Required documents | Identification proof (Aadhaar/PAN card), bank account details. |
| charge | ₹ 25, ₹ 50 up to ₹ 5,000, ₹ 50, ₹ 1 Lakh ₹ 100. |
| payment method | Cash, check, or bank account can be paid. |
| Recipient Information | The full name and address of the recipient is required. |
Method of filling demand draft form
Follow the following steps to fill the demand draft form:
- Branch Name: Write the name of the SBI branch from where you are making a demand draft.
- Draft option: Tick on the draft option.
- Date: Write the application date.
- Applicant Name: Fill your name.
- Horoscope: Fill the demand draft amount.
- The recipient’s name: Write the full name of the person or institution in which the demand draft is being made.
- Payment Branch: Write the name of the branch where the demand draft will be presented.
- PAN number: If the amount is more than ₹ 50,000, then PAN number is mandatory.
- Signature: Sign the application form.
Required documents
The following documents are required to make a demand draft:
- Identification proof: Aadhaar card, PAN card, or other valid identity cards.
- Bank Account Description: If you are paying from a bank account, account details are required.
- Check or Cash: If you are paying from check or cash, related information will have to be given.
Benefits of demand draft
Demand draft has many benefits:
- Safe Payment: This is a safe method from which payment can be made.
- Authorized: It is issued by the bank, which increases its credibility.
- Extensive use: Can be used in various financial transactions.
Fee for demand draft
The fee for SBI demand draft varies according to the amount:
- Up to ₹ 5,000: ₹ 25
- Up to ₹ 10,000: ₹ 50
- Up to ₹ 1 lakh: ₹ 100
This fee can be according to the bank’s rules, so it would be appropriate to get information from the bank.
Cancellation of demand draft
If you want to cancel the demand draft, you can do this by going to your bank branch or through online banking. For this, you have to provide a copy of the demand draft and other necessary documents.
conclusion
SBI Demand Draft is a safe and reliable way you can pay to an individual or institution. For this, it is necessary to fill the form correctly and give necessary documents. It is also important to get information about the validity and fee of the demand draft.
Disclaimer: This article provides general information and should not be taken as any specific financial advice. Specific rules and fees related to demand draft may be according to the bank’s rules, so it would be appropriate to contact the bank.
