When we are talking about the different banks that are situated in the country, there is no doubt that the Bank of India is one of the most common names that come to mind. The Bank of India has managed to provide many services to the customers and clients such as banking, finance, personal, and business loans as well.
However, we are going to talk about one common service right here. We are talking about Demand Draft or popularly known as DD. Well, a Demand Draft can be defined as the recoverable instrument that an individual will have to pay to the bank in order to get their draft.
After that is done, the bank will then play the role of the payee and will provide the demand draft to the person who has made the request for it.
The individuals who have bank accounts in the Bank of India will be able to easily make their payments through the account that they have. However, when the person requesting the Demand Draft doesn’t have an account in the Bank of India, then he/she has to make the payment through cash.
Bank Of India Demand Draft Charges
One of the most important things to remember while asking for the demand draft in the Bank of India is the DD charges that they have. Well, every single bank that provides the services of demand draft will ask for a certain amount that the payee has to provide to the bank.
This is known as the demand draft charge and one has to make sure that they pay it so that they can get their demand draft without any hassle for sure.
Bank of India DD issuance Charges
| Amount Range | Issuance Charges |
|---|---|
| Upto Rs. 5000 | Rs. 25 |
| Above Rs. 5000 to Rs. 10000 | Rs. 50 |
| Above Rs. 10000 to 1 lakh | Rs. 5 per thousand |
| Above Rs. 100000 | Rs. 4 per thousand |
Bank of India DD Revalidation/Cancellation Charges
| Amount Range | Revalidation/Cancellation Charges |
|---|---|
| Upto Rs.500 | Rs. 20 |
| Above Rs.500 | Rs. 100 |
Issuance of Duplicate Demand Draft
| Amount Range | Issuance Charges |
|---|---|
| Upto Rs.500 | Rs. 50 |
| Above Rs.500 | Rs. 150 |
Updated: 7 March 2024
In the case of the Bank of India, the demand draft charges can be calculated easily by visiting the website of the bank and getting all the details. So, what are you waiting for here? Go ahead and check your DD charges right now.
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