Introduction:

Canara Bank, with its esteemed standing within the Indian banking sector, has introduced the updated demand draft charges for 2024. Founded in 1906, this reputable bank has consistently delivered a wide range of services, meeting the needs of its clientele effectively.

A notable service offered by Canara Bank is the demand draft facility, a popular method for secure payments. But what defines a demand draft? Essentially, it is a negotiable instrument issued to facilitate payment. The issuer must deposit the specified sum with the bank, which ensures the payment is made by another bank or endorsed entity. The demand draft then serves as proof of this transaction.

Acquiring a demand draft from Canara Bank involves additional charges if the amount surpasses a certain threshold. These demand draft charges apply to the payer and differ based on whether they are classified as non-individual or individual.

Below is an outline of the latest Canara Bank Demand Draft Charges:

• Up to Rs.1000: Rs.40 (Non-individual), Rs.30 (Individual Non-Rural), Rs.25 (Individual Rural)
• Rs.1000 to Rs.10,000: Rs.50 (Non-individual), Rs.40 (Individual Non-Rural), Rs.35 (Individual Rural)
• Above Rs.10,000: Rs.4.00 per Rs.1000 (Non-individual), Rs.3.50 per Rs.1000 (Individual Non-Rural & Rural)

Furthermore, charges apply for the cancellation, revalidation, and issuance of duplicate demand drafts. Cancellation and revalidation fees are Rs.100 for amounts up to 10 lakhs, and Rs.1000 for sums exceeding 10 lakhs. Duplicate draft issuance charges are Rs.100 for amounts up to 5 lakhs, and Rs.1000 for amounts over 5 lakhs.

Demand draft charges are usually collected in advance in most banks, varying according to the draft’s value. For comprehensive details on Canara Bank's fees, individuals should consult the bank’s official website.

To stay updated on Canara Bank's latest demand draft charges, regularly visit their official website.