If you are looking for PNB Demand Draft Form PDF, then you are in the right place. At the end of this post, we have added a button to directly download the PDF of the Punjab National Bank DD Form for free.
PNB Demand Draft Form
A demand Draft (DD) is a negotiable instrument similar to the bill of exchange. A bank issues a demand draft to a customer (drawer) and instructs another bank (drawer) or one of its branches to pay a specified amount to the specified party.
A demand draft can also be compared to a cheque. However, it is difficult to contest a demand draft. Demand drafts can be made payable only to a specified party, also known as pay-to-order. But, the check can also be made payable to the bearer.
Generally, DD is valid for 90 days. In case it is not banked within the validity period, DD expires.
Difference Between Cheque and DD
- Demand Draft (DD) cannot be dishonored as the money has already been paid to the bank, whereas in the case of a cheque, it may bounce due to stop payment instructions by the payee or due to insufficient funds in the account.
- Check payment can be stopped by the customer, however, payment made through DD cannot be stopped.
- While the bank issues the demand draft, the check is issued by the customer of the bank.
- While the bank does not charge any charges on cheques, demand drafts attract bank charges.
- Checkbook is available only to the account holder, whereas DD can be executed by both account holders and non-account holders.
If you want to download the PNB DD Fillable Form PDF, then click on the download button provided at the end of this post.
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Download PNB Demand Draft Form PDF
To download Punjab National Bank Demand Draft Form PDF, then just click on the below download button. Within a few seconds, PNB Printable Demand Draft Form will be on your device.