Demand Draft Service:
  • Demand Draft is way for remitters to transfer money.
  • A Demand Draft is more secure than a normal cheque as it can only be credited to a specific payee's account,and a customer can only be reimbursed under indemnity if the draft is lost or stolen.
  • Vidyanand Co-Operative Bank Ltd draft is a low-cost,convenient method of payments.
  • Demand Draft is a pre-paid Negotiable Instrument, wherein the drawee bank acts as guarantor to make payment in full when the instrument is presented. DD cannot be dishonored as the amount is paid before hand.
  • Demand draft is usually used to make payment outside a city. Demand Draft can be cleared at any branch of the same bank.
Pay Order Service:
  • Pay order is secure way to make payment. Pay order can be made of your party's name and it is best proof of payment of this amount and on date. So,instead of giving cheque you can make pay order from bank and bank will make a payment from your account.
  • The payment order is a financial instrument issued by the bank on behalf of customer stating an order to pay a specified amount to a specified person within the same city.
Charges:
  • For pay order Rs. 25.00 + 18% GST per instruments irrespective of amount.
  • For Demand Draft Rs. 1.00 per thousand +18% GST.