The SBI DD cancellation charges depend on certain conditions, and it charges a fee for this service. If a demand draft is no longer required or if it was issued with incorrect details, you can cancel it by visiting the issuing branch. I’ve shared a breakdown of SBI’s DD cancellation charges here for your understanding.
What are the SBI Demand Draft Cancellation Charges?
For cancelling a demand draft up to Rs 500, the charges are NIL.
For cancelling a demand draft of Rs 500 – Rs 5000, the charges are Rs 25 + GST.
For cancelling a demand draft of Rs 5000 – Rs 10,000, the charges are Rs 50 + GST.
For cancelling a demand draft above Rs 10,000, the charges are Rs 100 + GST.
Process of Cancellation:
To cancel a DD, you need to visit the issuing branch of SBI. You must submit the original demand draft along with a written application for cancellation. If the original DD is lost, the indemnity bond should be provided as part of the application process. Once the request is processed, the refund is generally made to your account or given in cash (in case of cash payment for the DD).
Exception: A demand draft cannot be cancelled if it has already been encashed by the beneficiary. Timely action is required to initiate cancellation.
Overall, SBI demand draft cancellation charges a nominal fee for the service. Always ensure you cancel the DD before it is presented for payment.
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What is SBI DD Cancellation Charges?
shikha
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3 months
2024-09-17T02:25:27+00:00 2024-09-18T09:19:59+00:00Comment
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