Demand Draft

All you need to know

  • Payment: Use a Demand Draft to make payments to any beneficiary.
  • Guarantee: It ensures the specified amount is paid to the beneficiary.
  • Bank-Issued: Unlike a cheque, the bank issues a Demand Draft, not an individual.
  • Funds Withdrawal: The bank withdraws the funds from your account and guarantees payment to the beneficiary on demand.
  • Issuance Process: To obtain a Demand Draft, visit any HDFC Bank branch, fill out an application form, and pay a fee based on the transaction amount.

Frequently Asked Questions

To get money from a Demand Draft, present it at the bank branch where it was issued, along with a valid ID. The bank will verify and disburse the cash or deposit it into your account.

To make a payment using a Demand Draft, request one from your bank by providing the recipient's details and the payment amount. Then, pay the draft amount plus any applicable fees to the bank.

To convert a Demand Draft to cash, present it at the issuing bank with proper identification. The bank will verify and cash it, providing you with the equivalent amount in cash.