If you are not sure what charges/fee you need to pay SBI for DD, our SBI DD Charges calculator is going to help. You can check the SBI Demand Draft (DD) issuance charges based on the DD amount. You can also check the cancellation charges if you need to cancel it.
SBI Demand Draft Charges Calculator
How to use the Online SBI DD Charges Calculator
The State Bank of India Demand Draft Charges Calculator shows the fees for issuing and canceling a demand draft. Also, the fee is calculated based on different account types i.e. Regular account and some other accounts for which special rates are declared.
Let's understand the Step by Step Process :
Enter the Amount:
- You start by typing in the amount of money for which you want to issue or cancel a demand draft. This is the amount of the draft itself.
Select Your Account Type:
- You then choose your account type from a dropdown list. The types include regular accounts, startup accounts, gold, diamond, platinum accounts, pension accounts, and salary package accounts. This helps the calculator apply any special discounts or free allowances that your account might have.
Choose the Action:
- Next, you select whether you are issuing a new demand draft or cancelling an existing one. This is important because the charges are different for issuing and cancelling drafts.
Calculate Charges:
- When you press the "Calculate Charges" button, the calculator does its magic. It looks at how much money the draft is for, what kind of account you have, and whether you're issuing or cancelling the draft.
- For issuing drafts:
- If you have a regular account, it applies standard charges based on the amount.
- If you have a special account type, such as gold, diamond, or salary package, it checks if you're eligible for free drafts and adjusts the charges accordingly.
- For cancelling drafts:
- It uses a different set of rules to determine how much you need to pay based on the draft amount.
See the Result:
- Finally, the calculator shows you the charge. It will tell you exactly how much it will cost to issue or cancel your demand draft, including any taxes.
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SBI DD Charges 2024
If you want to know how DD Charges are calculated by State Bank of India, kindly refer to the tables below. You can easily find out the DD Issuance Charges, DD Cancellation Charges and Concessions too.
Issuance Charges
| Draft Amount | Charges (including GST) |
|---|---|
| Up to ₹5,000 | ₹25 |
| ₹5,001 to ₹10,000 | ₹50 |
| ₹10,001 to ₹1,00,000 | ₹5 per ₹1,000 (Minimum ₹60) |
| Above ₹1,00,000 | ₹4 per ₹1,000 (Minimum ₹600, Maximum ₹2,000) |
Cancellation Charges
| Draft Amount | Charges (including GST) |
|---|---|
| Up to ₹500 | Nil |
| ₹501 to ₹5,000 | ₹25 |
| ₹5,001 to ₹10,000 | ₹50 |
| Above ₹10,000 | ₹100 |
Concessions for Specific Account Types
| Account Type | Free Drafts/Concessions |
|---|---|
| Shubharambh-Startup Current Account | 10 DD/BC free per month |
| Gold Variant Current Account | 50 drafts free per month |
| Diamond Variant Current Account | Unlimited free drafts |
| Platinum Variant Current Account | Unlimited free drafts |
| Shaurya Family Pension Account | Unlimited free drafts (no restrictions on the number) |
| All Salary Package Accounts | Charges waived for DD issuance from Branch and Alternate Channels |
SBI DD Charges Calculator 2024 : Examples
Issuing a Draft:
- If you want to issue a draft for ₹20,000 with a regular account, you enter ₹20,000, select "Regular Account," and choose "Issue Demand Draft." The calculator will tell you the charge is ₹100.
- If you have a gold account, the same draft might be free because gold accounts get the first 50 drafts free each month.
Cancelling a Draft:
- If you need to cancel a draft for ₹7,000, you enter ₹7,000 and choose "Cancel Demand Draft." The calculator will tell you the cancellation charge is ₹50.
Our calculator is based on the Information provided by SBI through their official documentation