Whether it is for admission to universities abroad or for any other purpose, you can get Foreign currency demand draft at Citibank in India. All you have to do is just walk into your nearest Citibank branch to get a foreign currency Demand draft, normally foreign currency DD will be issued within minutes.
You can also avail of Foreign Currency Cash and Traveller’s Cheques in USD, GBP or Euro from Citibank branches offering Foreign Exchange facilities.
A foreign currency draft is a demand draft issued in a currency other than Indian Rupees. For example if you want to make payment for your admission to an US university, it would be in US dollars. Most of Nationalised banks in india issues foreign currency drafts for any individual.
A foreign currency demand draft is a way to transfer money overseas, it is considered cheap compared to the Wire transfers, which is the fastest way to transfer money from one bank to another.
The draft can be drawn up to any amount subject to limits prescribed by RBI. You can now avail DD facility to make payments for various purposes like:
- Payment of college fees for studying abroad
- Gift remittance to a friend or relative
- Payment of application fees for various exams like TOEFL , GMAT etc.
- Payment for surgery and medical treatment abroad
- and all other permitted purposes as per the RBI guidelines.
Citibank foreign currency demand draft charges
You can get a Foreign Currency Demand Draft for a fee of Rs. 300/- plus applicable service tax. Citibank Bank offers foreign currency demand drafts in the following currencies: USD, GBP, Euro, SGD, CAD, AUD, JPY.
Where to get foreign currency draft ?
Just walk into your nearest Citibank branch to get a foreign currency Demand draft, Click here to find the nearest Citibank Branch in India.