Home |Electoral Bond Scheme | I am not maintaining account with any Branch of State Bank of India. How can I purchase Electoral Bond?

I am not maintaining account with any Branch of State Bank of India. How can I purchase Electoral Bond?

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Rahul Rahul
Answered on February 19,2020

Purchaser not maintaining account with State Bank of India can purchase Electoral Bond through a Cheque / DD drawn in favour of the Authorized SBI Branch and payable at the local Clearing House.

Steps involved:

i. Purchaser submits the Electoral Bond Application Form alongwith pay-inslip, Citizenship & KYC documents and Cheque/ DD at Authorized SBI Branch. The same need to be submitted at least three working days before the closure of the scheme, so that clear funds for issuance of Electoral Bonds, are available with the Authorized SBI Branch. In case of payment through DD, a confirmation letter from the DD issuance Branch on the prescribed format should also be provided.

ii. The Cheque/ DD should be in favour of “State Bank of India A/c Electoral Bond Scheme -2018”

iii. Once the Citizenship and KYC documents are verified the instrument will be sent in clearing. Tear off portion of pay-in-slip will be handed over to the Applicant.

¡v. On the third working day the Purchaser/ Authorised Representative need to visit the Branch with the tear off portion of pay-in-slip and collect the EB from the Branch against acknowledgment.

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