A demand draft is a financial instrument that is used to make payments. It is a check that is drawn on a bank and payable on demand. Demand drafts are often used for large transactions, such as paying for a property or a car.
Here are the steps on how to write a demand draft:
1. Visit Your Bank
The first step is to visit your bank. You will need to go to the bank branch where you have your account.
2. Request a Demand Draft
Once you are at the bank, you will need to request a demand draft. You can do this by speaking to a bank teller.
3. Provide the Required Information
The bank teller will ask you for some information, such as:
- The name of the payee
- The amount of the demand draft
- The date you need the demand draft
4. Pay the Fee
There is usually a fee for obtaining a demand draft. The fee will vary depending on the bank.
5. Receive Your Demand Draft
Once you have paid the fee, the bank will issue you a demand draft. The demand draft will be made out to the payee and for the amount you requested.
6. Deliver the Demand Draft to the Payee
You can deliver the demand draft to the payee in person or by mail. If you are mailing the demand draft, make sure to send it by registered mail.
Sample Demand Draft
Here is a sample demand draft:
[Bank Name]
[Branch Name]
[Address]
[Date]
Pay to the order of: [Payee's Name]
[Amount]
[Signature]
Tips for Writing a Demand Draft
Here are some tips for writing a demand draft:
- Double-check the name of the payee before you write the demand draft.
- Make sure the amount of the demand draft is correct.
- Sign the demand draft in the space provided.
- Keep a copy of the demand draft for your records.
Conclusion
Demand drafts are a safe and convenient way to make payments. By following these steps, you can easily write a demand draft.