Pay Order & Demand Draft
Safe and Secure Payment Instruments
Pay Order & Demand Draft Services
Trusted Payment Solutions for Your Financial Needs
Fingrowth Bank offers Pay Order and Demand Draft services that provide a secure and guaranteed method of payment. These instruments are widely accepted for various transactions including property purchases, admission fees, security deposits, and business payments.
Pay Order vs Demand Draft
| Feature | Pay Order (PO) | Demand Draft (DD) |
|---|---|---|
| Validity Area | Same city/branch clearing area | Anywhere in India |
| Payment | Guaranteed by issuing bank | Guaranteed by issuing bank |
| Clearing Time | Faster (local clearing) | Takes 2-3 working days |
| Charges | Lower charges | Slightly higher charges |
| Best For | Local payments, fees, deposits | Outstation payments |
Charges
| Amount Range | Pay Order Charges | Demand Draft Charges |
|---|---|---|
| Up to Rs. 5,000 | Rs. 15 + GST | Rs. 25 + GST |
| Rs. 5,001 to Rs. 10,000 | Rs. 25 + GST | Rs. 50 + GST |
| Rs. 10,001 to Rs. 1,00,000 | Rs. 50 + GST | Rs. 100 + GST |
| Rs. 1,00,001 to Rs. 5,00,000 | Rs. 100 + GST | Rs. 200 + GST |
| Above Rs. 5,00,000 | Rs. 200 + GST | Rs. 300 + GST |
Key Features
Guaranteed Payment
Payment guaranteed by the bank. Cannot bounce like cheques.
Secure Transaction
Safer than cash with bank-backed security features.
Payee Specific
Issued in favor of a specific payee, preventing misuse.
Quick Issuance
Instant issuance at any branch during banking hours.
Cancellation Available
Can be cancelled if lost or no longer needed (charges apply).
Validity Period
Valid for 3 months from the date of issue.
How to Get Pay Order/Demand Draft
Visit Branch
Visit your nearest Fingrowth Bank branch during banking hours.
Fill Application
Complete the Pay Order/Demand Draft application form with payee details and amount.
Make Payment
Pay the amount plus applicable charges (cash/account debit/cheque).
Collect Instrument
Receive your Pay Order/Demand Draft instantly at the counter.
Documents Required
- For Account Holders: Valid account details, no additional documents required
- For Non-Account Holders: Valid ID proof (Aadhaar/PAN/Passport/Driving License)
- For Amounts Above Rs. 50,000: PAN Card mandatory
- Filled and signed application form
Common Uses
College/University admissions, tuition fees
Booking amounts, token payments
Rent deposits, tender security
Vendor payments, supplier settlements
Court fees, legal deposits
License fees, registrations
Get PO/DD Now
Visit your nearest branch to issue Pay Order or Demand Draft instantly
Find Branch View ChargesImportant Information
- Valid for 3 months from issue date
- Can be revalidated after expiry (charges apply)
- Cancellation charges: Rs. 50 + GST
- Duplicate issuance: Rs. 100 + GST
- PAN mandatory for amounts above Rs. 50,000
- Non-account holders can also avail