You would simply love to bank with Syndicate Bank, which is almost a grand eighty years old institution in banking. The first cause of your confidence in this has to be the enormous trust that public has reposed in this over the years and it is the ultimate hallmark of its progress. Its sharpened focus in rendering you the best of services has earned it several awards and distinctions in the field of banking. As a nationalized bank, it has never veered away from its role in bringing social welfare through commitment. It has the best in its range of products with superior quality and the bank, by and large, has the exclusive aim of promoting rural welfare through its unique initiatives in banking.
Demand Draft – unique in its services
When a talk is initiated about its services, you would, of course, appreciate its concept of service in giving you instruments of payment. The charges are not only lesser when you make a comparison but the response to get it ready is also great.
You gain both in money and time, when it comes to bank with Syndicate Bank.
How do you make the demand draft with Syndicate Bank?
Syndicate bank has more than 3000 branches in India and almost every city, town and village has the presence of its branch. You would feel glad to know that this bank is the first to implement core banking in its system. The core banking solution can benefit you enormously in getting a lot of benefits with making transactions.
Through core banking solution, you can get the demand draft issued to you at no additional cost from the branch having core banking solution to your home branch account. Even though, your home branch does not have core banking solution, it can be done at the core banking system branch by linking to your account to your city.
- For demand draft up to Rs 500, it charges Rs 20 to the institutions and individuals at the urban areas. To its rural customers, it charges Rs 15 for a demand draft of Rs 500.
- For a Demand draft of Rs 501 and up to Rs 1000, it takes a commission of Rs 40 to its urban customers and for the rural and small towns; it has fixed Rs 30 as commission charges.
- The bank takes Rs 40 for demand draft of Rs 1001 to Rs 10,000 from the urban customers and Rs 30 from the rural customers.
- For demand draft of Rs 10,000 to 1 lakh, it takes Rs 2.50 for each Rs 1000 or Rs 40 which is minimum from urban customers and from the rural customers, it takes Rs 2.00 for Rs 1000.
- No cash transaction is permissible for demand draft of Rs 1 lakh or more than it and you need to do it only through cheque from your account. The minimum charge in commission for this is Rs 250 minimum or Rs 12,000 maximum depending on the amount or value of the demand draft. Usually, the charge is Rs 2.50 per thousand of rupees for the customers in urban area and Rs 2.00 per thousand for the customers in rural areas.
Penalty for cancellation
- For cancellation of demand draft, the bank charges Rs 50 for demand draft up to Rs 10 lakh.
- For more than 10 lakhs, it charges Rs 500 per demand draft. The bank deducts Rs 40 for demand draft up to Rs 10 lakhs and more than this amount, the bank charges Rs 500 of demand drafts of more than 10 lakhs.