0
Do we require an savings account for taking demand draft in axis bank?
Wiki User
∙ 13y ago
No. A Savings account is not a mandatory requirement to get a demand draft from Axis Bank. You need to carry the following details:
- Your Name & Identification proof (Passport, Driver's License etc. - Anyone would suffice)
- The person to whom the DD must be payable to (The receiver)
- The Amount (You need to carry cash for the same)
- The Commission Charges (The charges for issuing the DD)
Once you fill up a form for getting the DD with the details you can submit it to the bank teller and deposit the cash. They will also take a DD issuing charge and then issue the DD in 15-20 mins time.
However, if you have a bank account with Axis Bank, the commission charges you need to pay will be comparatively lesser than what you may have to pay if you are a non-customer.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Different between non deposit taking institution and deposit taking?
NBFC stands for Non-Banking Financial Company. It is a company that provides financial services to customers but does not accept customer deposits and provide deposit accounts (like savings account, checking account etc.) A Bank is a deposit taking institution that provides banking and financial services to customers.
What are types of deposit taking institutions?
Deposit-taking institutions take the form of commercial banks; savings and loan associations and mutual savings banks; and credit unions.
What is the amount of money you earn before taxes are taking out?
It is called your gross wages. It is what you actually earned. The tax withholdings are like any other bill you pay with your gross earnings with a few simple twists: it basically goes to a savings account and is withdrawn when you file a return and actually determine how much tax for the year needs to be paid, as people (even with the exact same gross earnings) rarely end up paying the same tax. If there is excess in that savings account when you file your return, it is refunded.
Does debit mean taking out subtracting from a checking account?
18,000
What is journal entry to taking funds to reserve account?
[Debit] Net income account [Credit] General Reserves
What are the possible benefits of taking out a health insurance savings account as compared to purchasing ordinary health insurance?
There are many benefits of taking out a health insurance savings account as compared to purchasing ordinary health insurance. One of the best benefits is the possibility of interest growth in the savings account as well as not having to purchase it all at once.
What are 2 benefits of a savings account?
1) creating savings goals 2) putting money in without taking it out gives you interest!
Why is investec commercial bank a deposit taking intermediary?
It have a variety of deposit account, such as check account, savings and time deposit
Mutual Fund vs Savings Account?
Return rates on mutual funds are traditionally much higher than those on a savings account. Users are however taking more of a risk with mutual funds. The amount of risk can be measured by a number of things - including volatility.
Finding a High Interest Savings Account?
A high interest savings account can be of interest for many people. Students may wish to earn a little bit of income from interest, as opposed to taking a part-time job during the school year. Investors may wish to yield a large profit from a high interest savings account. Families may wish to build an emergency nest egg from the interest gained from a savings account. The only problem is that finding a high interest savings account is difficult these days.Finding a high interest savings account is difficult, because savings accounts follow the interest rate set forth by the Federal Funds Rate. In the past few years, the Federal Funds Rate has been exceedingly low. Major banks offer savings accounts with an annual interest rate of 0.0035% or 0.0025%.To earn the best return on your hard earned income, you will want to look online for high yielding savings accounts. There are some popular websites that allow you to compare multiple savings accounts at once. You should not be lured into picking the high interest savings account with the highest interest rate. Instead, you should carefully consider all of the factors affecting a savings account to make the best choice possible.When considering which savings account to choose, you should be mindful of any extra fees associated with the account. You may be required to pay a fee to open the account at a particular bank. In addition, some banks require a minimum opening deposit and monthly balance. If you can not meet the minimum monthly balance every month, then a bank may charge you additional fees to the savings account. You should also be mindful of any limits on withdrawals that can be taken from savings accounts. If you are going to need to constantly withdraw large sums of money from a savings account, then you need to make sure a bank will allow this.You may also want to see if you can link a savings account to other accounts. By linking accounts, you can easily transfer funds from a checking account to a savings account. In addition, you may be able to take cash out of an ATM with linked accounts.Lastly, you need to make sure a bank offering high interest savings accounts is FDIC-insured. God forbid another form of the Great Depression occurs, you need to make sure your money is safe with a particular bank. Otherwise, you will lose all of your savings.
What is withdrawal?
Withdraw is to remove or take away something. It can have many different uses.
Different between non deposit taking institution and deposit taking?
NBFC stands for Non-Banking Financial Company. It is a company that provides financial services to customers but does not accept customer deposits and provide deposit accounts (like savings account, checking account etc.) A Bank is a deposit taking institution that provides banking and financial services to customers.
What are types of deposit taking institutions?
Deposit-taking institutions take the form of commercial banks; savings and loan associations and mutual savings banks; and credit unions.
What percentage of my savings is recommended to be put in stock investments?
Most stock investments firms require you invest anywhere from $1,000 to $5,000. But taking a look at your finances and deciding what you can afford is the best thing to do first.
Are Ashley and Emily taking over your account?
yes they are taking over my account, so don't listen to them!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! They made the account
How much should one contribute monthly to a savings account?
Saving money in an economy like ours is becoming increasingly difficult. However, by rationing your paychecks and taking a percentage and putting it into savings, saving money can be a breeze. Depending on the amount of your check, you should put between 15%-25% of each.
Savings account opening zero balance sbi?
Only if you are working in a company & that company should have account in icici.then only u can have "0" balance account. otherwise it is not possible.
