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If drawn on the same branch where it is presented, then payment is immediate.

If presented at a different bank in the same city as the draft is drawn on, then usual clearing time is 3 days.

If presented in at a different city, it may take up to 15 days, beyond which clearing bank will pay interest for the delay.

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Q: How much time will take for demand draft clearance?
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Related questions

How do you encash Demand draft?

In order to encash or convert a demand draft, you will need to take it to a branch of the bank it was drawn on. The bank will be able to do it for you.


You want to pay 260 RS by demand draft but by mistake you take 200 rs demand draft What should you do now?

go home and sleep


How does a demand draft work?

A Demand Draft is an instrument that is used for exchange of money between two people. It is similar to checks with a small difference. You need pay the amount for which you wish to take a draft, to the bank that is issuing the same. The bank may charge you a fee for creating the draft for you. Once done, the draft is as good as liquid cash. The draft is usually created with a customer as Payee. All that person has to do is, visit the bank that issued the draft and provide a valid ID and encash it and he would be paid the money the draft is worth.


How do you make demand draft from bank in which dont have account?

It is not mandatory to have an account with a bank in order to take a demand draft. You can walk into any bank's branch and ask them for a demand draft requisition form. Once you fill the form and pay the money required the bank will issue you the DD you wanted. If you are a customer with the bank, they might charge you a little less for the DD fee but that does not prevent you from getting a DD from any bank.


Can you know the money is taken from demand draft by using the number?

When you take out money, they require a pictured ID and a signature. The number helps


How do you take demand drafts?

You need to visit any bank branch near you and submit a form for demand draft issuance. Once you enter the details of the person to whom the draft should be paid, the amount etc., you need to sign it and remit the money with the teller. Once this is complete, within the next 15-20 mins the bank will issue you the draft.


What is the procedure if the demand draft is not deposited in your account?

Contact the bank branch where you deposited the demand draft and explain them the situation. They might require a request in writing to investigate into the matter. The demand draft may not have been paid if:the drawee (the person who issued the DD) had cancelled the draftThere is a mismatch between the DD payee name (the person to whom the draft is entitled to be paid) and your name as per the bank recordsThere could be overwriting in the draftIf you are the legitimate person to whom the DD is to be paid, after receiving the request, the bank would take the necessary steps to get the payment due to you from the bank that issued the Draft.


Can you cancel the Demand Draft?

If you want to cancel a draft which is with you just take it to your banker, stick a revenue stamp on the back, sign it over and it will be canceled. Walk in to the branch where you got your demand draft and tell them that you want the draft to be canceled. They may ask for a written request and once you submit it, they will cancel the draft and credit the money into your account. Remember: The commission you paid for getting the DD would not be refunded. you can go to any branch of the bank as these days the banks have centralized computer sourses and the DD's are cancelled only 3 months from date of issue


Is there any nationalized bank open where i can take a demand draft on Sunday in Bangalore?

Yes, some branches of SBI in Bangalore do work Sundays.


What action should you take if you receive a clearance that will cause you to deviate from an FAR?

refuse the clearance and request and amended clearance


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Yes, they can demand a repayment.