Friday, February 11, 2011

Zero Demand Draft (DD) Charges

Friends, 
      Do you know that there is no bank charges of demand draft, if you have internet banking having  transaction right with State Bank of India. No doubt that it is not unlimited.  It is limited to Rs. 10,000/-.  In case Demand Draft amount is equal to or less than Rs. 10,000/- presently there is no bank charges. 

Demand Draft Amount      =  Rs. 10,000/-
D.D. Charges               = Rs.  0
Total Amount Payable to Bank =  Rs. 10,000/-

Now, question arise that is it easy to prepare draft through internet banking or not ?.   I have prepared  draft and found that it is much easy than manually preparation of Draft.  There is no need to fill  physical form for preparation of Demand Draft in Bank. Simply get a print of acknowledgement, submit in bank and collect your draft. 

Procedure to Prepare Demand Draft using Internet Banking
  1. Login Internet banking through https://www.onlinesbi.com/
  2. Click link named Payments/Transfers as shown in picture 1. 
  3. Now click on Demand Draft as marked in  picture 1. 
  4. Change Demand Draft Limit for which you want to create Demand Draft.
  5. Now enter Amount of Draft and In favour of .
  6. Remarks is not mandatory.
  7. Select Branch Code or Location as per your convenience on which Demand Draft if payable as shown in picture 2. 

Picture 1

 Picture 2
   

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