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A demand draft may be required at places where a party has to do payment to an unknown entity in lieu of a product or service availed. It is a guaranteed payment instrument where the money is debited from the paying party’s account at the time of DD creation. Once the receiver submits the demand draft, the money is deposited in the bank account for which it was created. Axis Bank allows its customers and non-customers to get demand drafts issued. Let us know about Axis Bank demand draft in details.
Axis Bank Demand Draft Details
Below mentioned are the details that needs to be mentioned at the time of filling the demand draft.
- On demand pay – Beneficiary’s details/Account number
- Rupees in words and numbers
- Date of issuing the demand draft
Axis Bank Demand Draft Types
There are two prominent types of Axis Bank demand drafts which are usually preferred by customers. These are:
- Sight Demand Draft: This version of demand draft is considered payable right after the presentation of certain documents. In case, the receiver isn’t successful in providing the specified documents, then he/she will not be able to get the money out of the demand draft.
- Time Demand Draft: This type of demand draft is billed right after a specified time. Always remember that, before this time period, the demand draft isn’t allowed to be billed from the bank.
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Points to Remember While Managing Axis Bank Demand Draft
- Each of the DD requests would be processed under a duration of 7 business days once the Axis Bank DD form is submitted.
- Always remember that the demand draft would be processed specifically at designated locations.
- In case you have opted for the DD for delivery via Registered Post, then the beneficiary would receive the draft within 10 working days.
- The demand draft application will be handled only if sufficient funds are available in your bank account
- Further, demand draft charges would be debited from the bank account itself.
- Customers who have entered their e-mail ID, would be informed regarding the request via e-mail.
- Axis Bank doesn’t take any sort of responsibility and won’t be liable for the claims in case the details offered by you are incorrect.
How to Get Axis Bank Demand Draft Issued Online
Below-mentioned steps show how one can request Demand Draft in Axis Bank online using the internet banking facility.
- Visit the net banking portal of Axis Bank and enter your login ID and password. Click on login button to proceed
- Upon logging in, click on ‘Services’ which you will find on the upper menu of your internet banking app
- You will be shown a drop-down menu, from the menu, click on ‘Request For’ and then click on ‘Demand Draft’
- In the next step, you will be asked to select the account from which the money will be debited for the demand draft. In case you have a single account, the money will be debited by default from that account.
- After selecting the account, enter the amount of Demand Draft you want to request from the bank
- In this step, you need to add the name of the beneficiary, the city where the DD should be payable. Select the dispatch mode from the given options either by the bank or by courier
- Upon adding all the details, click on ‘Proceed’
- Once the DD is generated, it will be dispatched as per the option selected.
How to Issue Axis Bank DD Offline
If the customer wants to request DD offline, he/she can walk into any branch of the bank and make a demand draft by filling up the demand draft form.
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How to Open Savings Account with Axis Bank Online
Axis Bank is known to offer a wide range of banking services and financial products such as corporate banking, mobile banking, net banking, loans, credit cards, etc. along with attractive benefits. With such facilities, customers of Axis Bank can easily open a savings account suitable for handling their finances.
Axis Bank’s web portal is the most convenient source to access different services offered by the organization. You can compare and open a savings account as per your will directly through the portal.
- Simply click on ‘Apply online’ option present on the portal itself. This will lead you to an application form that has to be instantly filled and later submitted.
- The applicant needs to offer personal details such as name, city telephone numbers, address, chosen branch and savings account type. All these details need to be verified and further submitted.
- Fresh account holders are offered a welcome kit from the bank.
- Moreover, customers are also provided a debit card whenever a savings account is initiated.
Axis Bank Demand Draft Fees and Charges
Below mentioned is the schedule of charges levied by Axis Bank on Demand Drafts.
| Type of Demand Draft Issue | Charges |
| Demand Drafts (Payable at correspondent bank locations under desk drawing arrangement) | Rs. 1/1000, Minimum Rs. 25 per DD |
| Demand Draft purchased from other banks | Actual + Rs. 0.50/1000, Minimum Rs. 50 per DD |
| Demand Draft drawn on Axis Bank branches – cancellation, reissuance or revalidation | Rs. 100 per instance |
| DD drawn on correspondent bank branches – cancellation, reissuance, revalidation | Rs. 100 per instance + other bank’s charges if any |
Types of Savings Account at Axis Bank
Below mentioned are the types of Savings Account provided by Axis Bank to its account holders.
Axis ASAP Digital Savings Account
- Easy Access Digital Savings Account
- Prime Digital Savings Account
- Liberty Digital Savings Account
- Prestige Digital Savings Account
- Priority Digital Savings Account
- Burgundy Digital Savings Account
Other Savings Account
- Government Scholarship Savings Account
- Easy Access Savings Account
- Liberty Savings Account
- Prestige Savings Account
- Senior Privilege Savings Account
- Future Stars Savings Account
- Pension Savings Account
- Insurance Agent Account
- Basic Savings Account
- Small Basic Savings Account
To know more about Axis Bank savings account in detail, click here
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FAQs
Q. Can the demand draft be rejected?
Ans. Yes, the demand draft will get rejected if there is insufficient balance in the account.
Q. What is the validity of Axis DD?
Ans. A demand draft is valid for three months from the date when it was issued.
Q. Can anybody else take the demand draft on my behalf?
Ans. No, the demand draft can only be received by the person to whom the money is due. The name of the person to whom money is to be paid is mentioned on the DD and no other person can receive the DD.
Q. Is it necessary to have a bank account to prepare a Demand Draft?
Ans. It is not mandatory to have a bank account to prepare a demand draft. The demand draft can be made by paying the bank in cash.
Q. Are there any chances of a demand draft getting dishonoured?
Ans. There are no chances of a demand draft getting dishonoured as money is already paid to the bank.
Q. What is the time taken for issuing Axis Bank DD?
Ans. It may take up to 2-7 days to process DD in Axis Bank. However, in most cases, a DD gets generated in as less as 4 hours.
Q. Difference between a demand draft and a cheque?
Ans. While making a payment via cheque, the amount is processed after the cheque is presented in the bank whereas, a DD is offered after payment is made to the bank.
There is a way to clog the cheque payment by the drawee. However, payment cannot be restricted in DD.
Q. Does Axis Bank issue intercity DD?
Ans. Yes, Axis Bank issues intercity DD. The details to mention at the time of requesting a DD are – Name and address of the drawee, name of the drawee, name, and address of the payee, name of the city where DD is payable, the amount payable to the drawee (in words and figures), fee charged by the bank, total amount payable by the drawer to the bank in figures, the signature of the drawer, name, and address of the drawer.