A demand draft is one of the most trusted and reliable instruments for making a payment and transacting with a party. It has been in use for a long time and even now, in the age of digital transactions, a demand draft continues to be the most used form of making payments to formal institutions. Almost all banks offer the facility of making a demand draft, commonly at a nominal charge. Canara Bank demand draft is issued by existing customers of Canara Bank and old customers of Syndicate Bank whose accounts have merged with Canara Bank.
After approaching the bank, one can get a demand draft made on the spot after paying the requisite fee. However, with the onset of the digital age, it is possible to get a demand draft made through online mode as well. Canara Bank DD form is available for download on various online platforms, so that the customers can access the service at any time that they need. For this, all that a customer has to do is to place a request for obtaining an online demand draft.
How to Issue a Demand Draft in Canara Bank
- Form Filling-You need to visit any of the Canara Bank branch and ask for a DD application form. You can even fill the form online.
- Form Details– The individual is required to provide details such as mode of payment (either cash or cheque). Moreover, the person receiving the DD amount, transferred amount, location where the demand draft will be redeemed, cheque number, personal bank account digits, signature, etc.
- Demand Draft Charges–As per the amount of DD, the bank will tell you the Canara Bank DD charges applicable to it, which you will have to give at the time you submit the DD form.
- Details of PAN Card– If the amount of DD exceeds Rs. 50,000 and you wish to make the payment via cheque, then there is a requirement to submit the PAN card
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How to Get Canara Bank Demand Draft Issued Online
Below mentioned are the steps involved in filling Canara Bank DD form online:
- First of all, on clicking the online demand draft option, the system shall display a Demand Draft screen.
- After this, select a currently operative account from the given drop down list. Against select option, choose the account field.
- The system shall display the available balance in terms of the amount under the option for per day transaction limit which is fixed by Canara Bank against the balance available option.
- At this step, enter the necessary amount for which Demand Draft is to be issued by the Canara Bank against the amount column option. Also, ensure that this amount that you are filling, should be less than or equal to the amount that is being shown against the balance available limit that is being shown by the system of the bank.
- Now, enter the necessary beneficiary name in whose favour the Demand Draft is to be issued by you.
- Also enter the beneficiary address in case Demand Draft is to be mailed to the beneficiary at his address.
- Now, enter the name of the bank branch where the Demand Draft is to be payable by the beneficiary. You need to ensure that Canara Bank should have its branch in that place which is being preferred by you before you enter the name of the place at this step.
- Under the option for delivery type, you need to select “Mail to Remitter” for sending the Demand Draft to your address of choosing or else, select “Mail to Beneficiary” for sending the Demand Draft to the beneficiary, in which case, you have to provide the correct address of the beneficiary or else, select “On Hold” option in order to retain these Demand Drafts at the bank so that you can collect them yourself later.
- You need to click the submit button at this step. The system will ask you to provide your transaction password twice after displaying the transaction password screen at this stage.
- Click the submit button or use the clear button to clear all the passwords which have been entered by you until now.
- The system shall check the validity of the transaction password entered by you and throw an error saying “Invalid PIN” display if the password is wrongly entered by you.
- If the transaction password entered by you is correct, the system shall display a Demand Draft verification screen which shall contain the details like Demand Draft amount, beneficiary name, delivery type, and more.
- Now, click on the confirm button to validate the transaction or change button to change the details entered as of now.
- On clicking the confirm button, the system shall display a confirmation screen with the Demand Draft request date and confirmation number. All the other details like the amount, beneficiary name, beneficiary address, etc. shall also be shown on this screen.
- You must take a print out of this screen by clicking the print button or click another Demand Draft button to request for another Demand Draft and start over.
How to Issue Canara Bank Demand Draft Offline
If the customer wants to apply for DD offline, then the customer will have to visit any branch of the bank and make a demand draft by filling up the demand draft form.
Canara Bank DD Charges
Canara Bank allows an individual to make transactions via Demand Draft (DD). Before you actually access this facility, you must know about Canara Bank DD charges.
| Local Demand Draft | |||
| Amount | Other than Individual | Individuals | |
| Other than Rural | Rural | ||
| Up to and inclusive of Rs. 1,000 | Rs. 40 | Rs. 30 | Rs. 25 |
| Above Rs. 1,000 and up to Rs. 10,000 | Rs. 50 | Rs. 40 | Rs. 35 |
|
Above Rs. 10,000 Up to Rs. 1,00,000 |
Rs. 4 per Rs. 1,000 or part thereof minimum of Rs. 50 | Rs. 3.50 per Rs. 1,000 or part thereof minimum of Rs. 40 | Rs. 3 per Rs. 1,000 or part thereof minimum of Rs. 40 |
| Above Rs. 1,00,000 | Rs. 4 per Rs. 1,000 or part thereof with minimum of Rs. 400, maximum Rs. 12,000 per DD | Rs. 3.50 per Rs. 1,000 or part thereof with minimum of Rs. 400, maximum Rs. 12,000 per DD | Rs. 3 per Rs. 1,000pr part thereof with minimum of Rs. 400, maximum of Rs. 10,000 per DD |
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Canara Bank Demand Draft Cancellation Charges
Right after the demand draft is made, the amount is immediately deducted from your bank account. Suppose you wish to cancel the DD and want to acquire the deducted money directly into your account, then get in touch with the bank. Do remember that as of now there is no online facility in India for cancellation of DD.
| Demand Draft Cancellation/Re-validation/Duplicate Issuance | |||
| Amount | Other than Individual | Individuals | |
| Other than Rural | Rural | ||
| Cancellation/Re-validation/Duplicate issuance of DDs | Rs. 100 per DD | Rs. 100 per DD | Rs. 100 per DD |
FAQs
Q. What is the maximum amount for which a single DD can be issued?
Ans. A single DD can be issued for less than Rs. 1 crore only. If the DD is required for Rs. 1 crore and above, then there will be multiple DDs issued and collecting commission as applicable to single draft.
Q. Can I avail DD cancellation/refund facility at any other DD issuing branch in Canara Bank?
Ans. No. DD cancellation/refund facility can be availed at DD issuing branch only.
Q. Is there a chance to revalidate DDs which have completed six months from the date of issue?
Ans. DDs which have completed 6 months from the date of issue cannot be revalidated. However, the purchaser can cancel such DDs and look for issuing a new DD.
Q. Can I claim refund from DD money?
Ans. If done in stipulated period of time, DD money can be refunded and cancelled.
Q. Up to what amount DD can be enchased?
Ans. Encashment of DD in cash is permitted for less than Rs. 20,000. Amount that exceeds Rs. 20,000 is made through banking channels and not in cash.