What is the DD Commission Charges in SBI?

The fees that apply to transactions involving Demand Drafts are referred to as "DD commission charges" at the State Bank of India (SBI). DD is nothing but a form of payment where the bank ensures the transaction on the buyer's behalf. SBI has established a special commission for the issuance and cancellation of Demand Drafts based on the amount involved. I have shared the SBI DD charges for this year below for your reference.

SBI Demand Draft Charges 2023

The fees imposed by SBI on various demand draft related issues are listed below:

• As mentioned above, a commission of INR 25 including GST is charged for draft issuances under INR 5,000. 

• The commission fee rises to INR 50, including GST, if the draft amount is greater than INR 5,000 but less than INR 10,000. 

• A charge of INR 5 per INR 1000 is imposed for sums more than INR 10,000 but not exceeding INR 1,00,000. 

• Similarly, the fee rises to INR 4 per INR 1000 for transactions beyond INR 1,00,000. The minimum service charge is INR 600. However, the maximum charge is INR 2000.

Piyali has already provided the SBI DD cancellation charges. For several categories, including senior citizens and pensioners, SBI also provides discounts on commission fees. To avoid any misunderstandings while using the SBI Demand Draft, it is always better to confirm the current fees and discounts with the bank. I hope you got the DD charges SBI 2023.

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Hello Zeeshan. The State Bank of India DD charges differ based on the DD amount. Like for instance, the charges for a DD up to Rs. 5,000 are Rs. 25, which also comprises GST. Being an employee at the SBI Bank, I can help you by sharing a detailed list of the DD charges. You can find them below.

State Bank DD Charges

Here are the DD charges levied by SBI:

1. Rs. 25 inclusive of GST for a DD up to Rs. 5,000.

2. Rs. 50 inclusive of GST for a DD worth over Rs. 5,000 and up to Rs. 10,000.

3. Rs. 5 inclusive of GST for every Rs. 1,000 for a DD ranging from Rs. 10,001 to Rs. 1 lakh.

4. Rs. 4 inclusive of GST for every Rs. 1,000 for DD above Rs. 1 lakh.

5. IOI DD charges are the same as above.

6. Rs. 50 plus GST in addition to the above charges for postage and courier charges.

This is all I know about the DD charges of SBI Bank. I hope you find this useful.

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Some related information:

What is SBI DD Cancellation Charges?

These days, while sending money or making payments, customers typically use online money transfer services like IMPS, RTGS, or NEFT. Many educational institutions, including schools, universities, institutes, etc., mainly ask for the SBI demand draft for the admissions or application processes. Now, you must be thinking what is the DD commission charges in SBI. It starts at Rs.25. Read on to know more.

What are the SBI DD commission charges?

A demand draft is a prepaid negotiable instrument issued by a bank, guaranteeing payment to the payee. It is often used in scenarios where cheques or online payments are not preferred.

SBI DD Charge if Issued at Branches:

• Up to Rs 5000: 25 Rs.

• Up to ₹10,000: ₹50.

• ₹10,001 to ₹1 lakh: ₹5 per ₹1,000 or part thereof, with a minimum of ₹60 and a maximum of ₹500.

• Above ₹1 lakh: ₹4 per ₹1,000 or part thereof, with a maximum of ₹2,000 + GST.

Duplicate DD Issuance: ₹200 + GST for reissuing a duplicate demand draft.

Cancellation or Revalidation Charges: ₹200 + GST for cancelling or re-validating a demand draft.

Demand drafts are secure and ensure guaranteed payments. I would say you visit the nearest SBI branch for updated fee details. I hope you found this helpful.

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What is STDR In SBI and Why is it Better than TDR

The DD charges of SBI depend on various factors such as the amount of the demand draft, the type of account you hold (savings account, current account, etc.), and whether the DD is being issued in favor of an individual, company, or another entity.

How much DD Charges in SBI?

The commission charges for Demand Drafts in SBI are as follows:

For DDs Issued to Individuals or Account Holders

:

• For amounts up to Rs. 5,000: The commission charges may range from Rs. 25 to Rs. 30.

• For amounts above Rs. 5,000 to Rs. 10,000: The commission charges may range from Rs. 30 to Rs. 50.

• For amounts above Rs. 10,000 to Rs. 1,00,000: The commission charges may range from Rs. 3 to Rs. 4 per Rs. 1,000 of the DD amount.

• For amounts above Rs. 1,00,000: The commission charges may range from Rs. 2 to Rs. 3 per Rs. 1,000 of the DD amount.

For DDs Issued to Non-Account Holders or Companies

: The commission charges for DDs issued to non-account holders or companies may be slightly higher compared to those issued to account holders.

These are the bank DD charges in SBI. 

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How to Download SBI Bank Statement Online or from Yono App?

When a DD is provided, the bank cannot reject the payment on the grounds of insufficient funds, unlike cheque payments. This is true because DD is a prepaid payment method and the Drawer would already have paid for it. Last year, my sister intended to buy a demand draft and got to know that she will be required to pay a DD commission in SBI.

She enquired about the SBI DD charges for 50 lakhs, to this, she got to know that the charge for 50 Lakhs is as follows;

• Rs. 4 (including GST) per Rs. 1,000

• Min. Rs. 600 (including GST)

• Max. Rs. 2,000 (including GST)

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Apart from 5 Lakhs, she was also informed by the Bank about the 

SBI DD commission charges 2023 for other amounts;  

Demand Draft Issue and Amount	Charges
Up to Rs. 5,000	Rs. 25 (including GST)
Above Rs. 5,000 and up to Rs. 10,000	Rs. 50 (including GST)
DD Cancellation or Issuance of Duplicate DD	Rs. 200 + GST
Demand Draft Cancellation Charges	Up to Rs. 500 – NIL
	Above Rs. 500 and up to Rs. 5,000 – Rs. 25 + GST
	Above Rs. 5,000 and up to Rs. 10,000 – Rs. 50 + GST Above Rs. 10,000 – Rs. 100 + GST

I hope this helps you with the DD commission in SBI.

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What are the SBI Home Loan Prepayment Rules? How to Close SBI Home Loan Online? Which Bank is Best for Plot Loan?

Do you intend to use the demand draft to make a payment of any kind? A demand draft is a prepaid negotiable instrument that can be used to pay anyone. I recently visited the SBI to purchase a demand draft, and realised that there are demand draft charges SBI for both draft issuance and cancellation. 

DD commission in SBI:

• SBI Demand Draft Issuance Charges:

Amount	Charges
Up to Rs. 5000	Rs. 25
Above Rs 5000 up to Rs 10000	Rs. 50
Above Rs. 10000 up to Rs. 100000	Rs. 5 per 1000 (Min. Rs. 60)
Above Rs. 100000	Rs. 4 per Rs. 1000
	Min. Rs. 600
	Max. Rs. 2000

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• SBI DD charges 2023 for cancellation:

Draft Amount	Charges
Up to Rs. 500	Nil
Above Rs. 500 up to Rs. 5000	Rs. 25 + GST
Above Rs. 5000 up to Rs. 10000	Rs. 50 + GST
Above Rs. 10000	Rs. 100 + GST

After informing the demand draft charges SBI, I’d like to say that an online SBI DD cancellation is not possible. As of now, SBI doesn't give any option that would allow a customer to control the process via the bank's website. To manage the cancelling process, you will need to personally go to any bank branch.

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What are the SBI Home Loan Prepayment Rules? How to Close SBI Home Loan Online? Which Bank is Best for Plot Loan?

Hi, I still remember when I had to cancel my DD due to some spelling mistake, so I can answer all your queries regarding DD cancellation charges SBI. I want you to know that SBI does not allow its customers to cancel the DD online, so you’ll need to go to any of the bank branches personally and complete the cancellation process. You can cancel a sanctioned DD in 2 cases: 1) When cash has been paid for the DD 2) When money has been offered from the account for a DD What is the DD Commission Charges in SBI Just like how banks charge an issuance fee for issuing a DD, they also charge a fee for cancelling a DD for covering up the administration and documentation charges spent on issuing the DD. Here are the DD cancellation charges SBI: DD Cancellation/Revalidation: Rs. 200 + GST DD Duplicate: Rs. 200 + GST Let me also tell you about the SBI DD Charges (DD Charges for Payment through Cheque Including Online Requests) DD charges SBI bank

Amount	Charges
Above Rs. 1 lakh	Rs. 4 per Rs. 1,000 (Minimum = Rs. 600 and Maximum = Rs. 2000
Above Rs. 10k up to Rs. 1 lakh	Rs. 5 per 1000 (Minimum Rs. 60)
Above Rs 5k up to Rs 10k	Rs. 50
Up to Rs. 5k	Rs. 25

Which Bank Has Lowest DD Charges The Demand Draft cancellation charges vary across banks. Here are the DD cancellation charges for some popular banks:

Bank	DD Cancellation Charge
SBI	₹ 200
Axis Bank	₹ 75 to ₹ 125
HDFC Bank	₹ 100
BoB	₹ 75 to ₹ 200
PNB	₹ 100 to ₹ 250
ICICI Bank	₹ 100

Other SBI Related Answers: How to Get Home Loan from SBI How to Download SBI Bank Statement What is Minimum Amnount Due in SBI Credit Card Now you know about the DD charges SBI bank and DD cancellation charges SBI.