Latest Canara Bank Demand Draft Charges for 2024 Revealed
Latest Canara Bank Demand Draft Charges for 2024 Revealed
Mar 23, 2024
15 Mins
Introduction:
Canara Bank, known for its prestigious reputation in the Indian banking industry, has recently unveiled their updated demand draft charges for the year 2024. This long-standing financial institution, established in 1906, has continuously made a name for itself by providing a plethora of services and diligently catering to the needs of its customers.
One of the essential offerings provided by Canara Bank is the demand draft service, a widely favored method for making payments. But what exactly is a demand draft? In simple terms, it is a negotiable instrument issued by an individual to facilitate payment. Crucially, the person issuing the demand draft must deposit the requisite amount with the bank, which will then arrange for the payment to be made on their behalf by another bank or endorsed entity. Subsequently, the demand draft is produced as evidence of the transaction taking place.
Obtaining a demand draft from Canara Bank entails the payment of additional charges if the amount exceeds a certain limit. These charges, known as demand draft charges, are levied on the individual making the payment. It is important to note that the charges vary depending on whether the individual is classified as non-individual or individual.
Outlined below are the latest Canara Bank Demand Draft Charges:
Amount Range DD Charges For Non-individual DD Charges For Individual (Non-Rural) DD Charges for Individual (Rural)
Up to Rs.1000 Rs.40 Rs.30 Rs.25
Rs.1000 to Rs.10,000 Rs.50 Rs.40 Rs.35
Above Rs.10,000 Rs.4.00 per Rs.1000 Rs.3.50 per Rs.1000 Rs.3.50 per Rs.1000
Additionally, Canara Bank imposes charges for the cancellation, revalidation, and issuance of duplicate demand drafts. These charges differ based on the value of the instruments involved. For cancellation and revalidation, fees amount to Rs.100 per instrument for amounts up to 10 lakhs, and Rs.1000 per instrument for amounts exceeding 10 lakhs. Similarly, the issuance of duplicate demand drafts incurs fees of Rs.100 per instrument for amounts up to 5 lakhs, and Rs.1000 per instrument for amounts exceeding 5 lakhs.
It is worth mentioning that demand draft charges in most banks are collected in advance, with the specific amount varying based on the value of the demand draft. For more detailed information regarding Canara Bank's demand draft charges, individuals are advised to visit the official website of the bank.
Stay informed about the latest Canara Bank demand draft charges by checking their website regularly.
Introduction:
Canara Bank, known for its prestigious reputation in the Indian banking industry, has recently unveiled their updated demand draft charges for the year 2024. This long-standing financial institution, established in 1906, has continuously made a name for itself by providing a plethora of services and diligently catering to the needs of its customers.
One of the essential offerings provided by Canara Bank is the demand draft service, a widely favored method for making payments. But what exactly is a demand draft? In simple terms, it is a negotiable instrument issued by an individual to facilitate payment. Crucially, the person issuing the demand draft must deposit the requisite amount with the bank, which will then arrange for the payment to be made on their behalf by another bank or endorsed entity. Subsequently, the demand draft is produced as evidence of the transaction taking place.
Obtaining a demand draft from Canara Bank entails the payment of additional charges if the amount exceeds a certain limit. These charges, known as demand draft charges, are levied on the individual making the payment. It is important to note that the charges vary depending on whether the individual is classified as non-individual or individual.
Outlined below are the latest Canara Bank Demand Draft Charges:
Amount Range DD Charges For Non-individual DD Charges For Individual (Non-Rural) DD Charges for Individual (Rural)
Up to Rs.1000 Rs.40 Rs.30 Rs.25
Rs.1000 to Rs.10,000 Rs.50 Rs.40 Rs.35
Above Rs.10,000 Rs.4.00 per Rs.1000 Rs.3.50 per Rs.1000 Rs.3.50 per Rs.1000
Additionally, Canara Bank imposes charges for the cancellation, revalidation, and issuance of duplicate demand drafts. These charges differ based on the value of the instruments involved. For cancellation and revalidation, fees amount to Rs.100 per instrument for amounts up to 10 lakhs, and Rs.1000 per instrument for amounts exceeding 10 lakhs. Similarly, the issuance of duplicate demand drafts incurs fees of Rs.100 per instrument for amounts up to 5 lakhs, and Rs.1000 per instrument for amounts exceeding 5 lakhs.
It is worth mentioning that demand draft charges in most banks are collected in advance, with the specific amount varying based on the value of the demand draft. For more detailed information regarding Canara Bank's demand draft charges, individuals are advised to visit the official website of the bank.
Stay informed about the latest Canara Bank demand draft charges by checking their website regularly.
Author
Pluto Team
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