Vijaya Bank DD Charges

For the last many years now, demand drafts and cheque have been conventionally used as the methods of payment to other parties. The concept of cheque and demand draft was so common that people were in the habit to make payments using these two as they were the only trusted and prestigious options available. As technology and innovation have overtaken the modern day scenario, people choose to make use of online methods for exchanging funds such a NEFT, IMPS and RTGS. These payment methods are easily available to every customer who holds a bank account, through the net banking facility and mobile banking application. However, demand drafts still continue to remain one of the most trusted medium for making and receiving payments, which is why it is still one of the widely accepted mode of payment at major institutions and organizations. Let us help you understand more about Vijaya Bank DD charges.

What is demand draft facility?

Popularly known as a negotiable instrument, a demand draft is a prepaid instrument. In this case, a person holding an account of Vijaya bank undertakes to pay another person, such that the other party can withdraw funds from the account of the holder simply by presenting the demand draft at the bank counter. A demand draft is usually considered to be more reliable and credible than a cheque. It is basically a valid and guaranteed assurance for payment of the amount stated. The following are the features of a demand draft:

• DD is generally payable to a person or organization upon demand.
• It can be en-cashed only by the persons on whose name the draft has been drawn. It cannot be paid to a bearer which is another factor that increases the security associated with payment, as compared to a cheque.
• A demand draft is generally valid for a period of three months.

Vijaya Bank DD Charges

The following table depicts the charges for a DD service at Vijaya bank.

Exchange on Remittances – DDs

Services	Other than Individuals	Individuals (Other than Rural)	Individuals (Rural)
Up to Rs 1000	Rs 41	Rs 26	Rs 21
Above Rs 1000 up to Rs 10000	Rs 67	Rs 52	Rs 31
Above Rs 10000 up to Rs 1 lakh	Rs 4 per thousand or part thereof with a minimum of Rs 67	Rs 3.50 per thousand or part thereof with a minimum of Rs 52	Rs 2.50 per thousand or part thereof with a minimum of Rs 31
Above Rs 1 lakh up to Rs 10 lakhs	Rs 4 per thousand or part thereof with a minimum of Rs 423	Rs 3.50 per thousand or part thereof with a minimum of Rs 372	Rs 2.50 per thousand or part thereof with a minimum of Rs 265
Above Rs 10 lakhs	Rs 4/- per thousand or part thereof, with a maximum of Rs 41454	Rs 3.50 per thousand or part thereof, with a maximum of Rs 36272	Rs 2.50/- per thousand or part thereof, with a maximum of Rs 25910

Issue of DDs against tender of cash

Services	Charges
Up to Rs 10000	Applicable Normal Rate
Above Rs 10,000 and up to Rs 49,999 (No cash DD/Remittances should be issued for Rs. 50000 & above against cash in terms of HOC 13175, Dated 11.06.2013)	150% of normal charges (both in rate and cap)

Besides these charges, the bank also charges a service amount if the DD is canceled.