Reg. No: SA 2914 Dated : 27 Jan. 1995
License No: UBD Guj-1153 P Dated : 01 July 1995

Demand Draft Facility

Demand Draft is way for remitters to transfer money
A demand draft is more secure than a normal cheque as it can only be credited to a specific payee's account, and a customer can only be reimbursed under indemnity if the draft is lost or stolen.

Transactions Charge
The structure of charges that can be levied on the customer for Demand Draft is given below:

Charges of Pay Order   
If Opening balance less than Pay Order amount

  • Up to Rs. 1,000    : Rs. 10 (+ Service Tax)
  • Rs. 1,001 to Rs. 15,000    : Rs. 15 (+ Service Tax)
  • Rs. 15,001 and above    : Rs. 1 per Rs. 1,000 (+ Service Tax)

Charges of Demand Draft
If Opening balance less than DD amount

  • Up to Rs. 5,000    : Rs. 15 (+ Service Tax)
  • Rs. 5,001 to Rs. 20,000    : Rs. 20 (+ Service Tax)
  • Rs. 20,001 and above    : Rs. 1 per Rs. 1,000 (+ Service Tax)

Charges of Nationalize Demand Draft ( State Bank of Travancore)
If Opening balance less than DD amount

  • Up to Rs. 10,000    : Rs. 20 (+ Service Tax)
  • Rs. 10,001 to Rs. 1,00,000    : Rs. 2per Rs. 1,000 (+ Service Tax)
  • Rs. 1,00,001 to Rs. 1,33,000    : Rs. 200 (+ Service Tax)
  • Rs. 1,33,001 and above    : Rs. 1 per Rs. 1,000 (+ Service Tax)

Benefits

  • Varachha bank draft is free of cost for any amount (at opening Balance)