How to make Demand Draft (DD)
How to make demand drafts? Well, this article will teach you how to do it. DD (Demand Draft) is basically like a check. The bank which issues the DD take the responsibility of the payment which is to be made.
Let us take an example. Suppose you want to make a demand draft of 50,000 Rupees, in favor of the dean of your college, how will you do it? What details you require? Read on for knowing it all.
First of all, you must have a bank account and enough balance in your account! Now, take out a cheque from your cheque-book and write the amount you want in your DD. In our case, it is 50,000 Rupees.
On the cheque, you have to write the name of the bank and the amount. Now, go to the bank and ask for the form for Demand Draft. Fill the form up. The form usually asks for details like- cheque number, in whose favor the DD is to be made (dean of your college in this case),your bank account number, the place (branch of bank) where your DD can be used(the place of your college) and your signature etc. Fill up the form, hand over the cheque and the form to the designated bank employee. He will give you a receipt for it.
Now, if you have the account in the same bank where you are getting the Demand Draft made, the bank will levy a small charge directly from your account.
You will be asked to collect the Demand Draft after some time. If you filled in all the details correctly, you will be provided with the DD at the said time.
This is the procedure for getting a demand draft (DD). Hope this article helped you.