List of IFSC code, MICR code and addresses of all bank branches in India. Find verified IFSC codes quickly to use for NEFT, RTGS & IMPS transactions.
or select a bank from these:
IFSC Code, MICR code List of all banks in India is given below. Click for more information about the bank and its services. To find details of other banks, use the form below.
What is IFSC Code?
Indian Financial System Code (IFSC Code) is a unique eleven-digit (11-digit) alphanumeric code which is assigned to each bank branch by the Reserve Bank of India (RBI) to monitor the online transfer of money. This code which is unique to every bank’s identity is used by Indian banks to participate in the NEFT (National Electronic Fund Transfer) and RTGS (Real Time Gross Settlement) payment settlements.
Structure of IFS Code:
- The initial four characters represent the bank code.
- The fifth character is ‘0’ to allow the opportunity for expansion of the bank branch.
- The remaining six characters depict the specific bank branch code.
Features of IFSC Code:
- Tracking transactions- RBI uses the IFSC code to monitor regular banking transactions. This helps in minimizing any chances of a possible discrepancy in the fund transfer process.
- Unique Identification- IFS Code serves as a unique identification code provided to all the Indian banks and their respective branches to avoid any sort of confusion among the customers.
- Online Funds Transfer- Provision of the IFS Code allows a smooth and convenient transfer of funds between banks. It ensures a hassle-free transfer of money within very less time.
- Security- The unique IFS Code helps in carrying out the fund's transfer securely thereby eliminating any kind of fraudulent activities.
What is IFSC NEFT transfer?
One of the prominent methods of transferring funds using the IFSC Code is the National Electronic Fund Transfer(NEFT). NEFT is a national payment system which facilitates the electronic transfer of funds from one account to another irrespective of the bank accounts and their branches. Provided both the sender and the receiver are a part of the NEFT system, any individual, firm or a corporate can transfer money to the other.
Requirements of NEFT Transfer:
- The transaction limit for any transfer is Rs. 50,000.
- The fund transfers are made on a half-hourly basis with settlement batches from 8 am to 7 pm on weekdays except the 2nd and 4th Saturdays.
- The beneficiary needs to be added to the payee’s account.
- Beneficiary account number, bank and branch name, IFS Code must be taken into consideration before making an NEFT Transfer.
- Not all banks offer the NEFT Transfer, thus it is important to check its availability beforehand.
Benefits of NEFT Transfer:
- Since it does not involve the use of a physical cheque or Demand Draft, the chances of any fraudulent behaviour are less.
- The NEFT Transfer can conveniently be made at home or anywhere without having to visit the bank.
- A confirmation mail and SMS is sent every time a transaction is made which helps in keeping a record of funds transfer.
- For businessmen and others who find it taxing to spend their time visiting the bank, funds transfer can be made just by a click in their smartphones through NEFT.
What is IFSC RTGS Transfer?
Real-Time Gross Settlement is another fund transfer method in which the money is sent in ‘real-time’ or immediately without any delays. As soon as the money transfer transaction is initiated, the money is immediately sent to the beneficiary by the remitter. The ‘gross settlement’ ensures the transfer of money on an individual basis rather than in a batch-wise system. Among all the other IFSC methods used to transfer money, RTGS Transfer is the quickest. Such transfers are typically suited for large businesses where the minimum amount to be transacted is 2 lakhs.
Requirements of an IFSC RTGS Transfer:
- Registration of the payee/beneficiary in the bank account.
- IFS Code of the payee/beneficiary.
- Name of the beneficiary bank and branch
- Account number of the beneficiary
- The minimum amount to be transferred should be Rs. 2 lakhs, however, there is no upper limit.
Benefits of RTGS Transfer:
- As it is maintained by the Reserve Bank of India (RBI), the RTGS Transfer is free of any risks and fraud.
- Since the transactions are carried out on a real-time basis, there is no delay in the transfer of funds.
- The RTGS Transfer is a highly suitable and suggestable method for carrying out large transactions.
- Funds can be transferred at the convenience of your homes or office.
- The RTGS Transfer of funds is not restricted to any geographical boundaries in India.
What is IFSC IMPS transfer?
Immediate Payment Service is a money transfer mechanism using the IFS codes. It offers a 24*7 real-time service with a transfer of funds on an immediate basis. Launched in 2010, the IMPS Transfer has gradually become a widely-used bank service owing to its benefits. Through this interbank payment system, transactions can be initiated either by online net banking or mobile banking. The National Payments Corporation of India (NPCI) manages the IMPS fund transfer.
The immediate transfer of funds using RTGS is because of the following modes of payment:
- IMPS Transfer through a bank account using IFSC Code
- IMPS Transfer through SMS
- IMPS Transfer via ATMs
- IMPS Transfer through registered mobile numbers
Prerequisites for IMPS Transfer:
- Registration of mobile banking or net banking from your bank account
- The beneficiary’s Mobile Money Identifier and your Mobile Pin should be available for the RTGS Transfer through mobile banking.
- The beneficiary’s account details need to be noted down in case the RTGS Transfer is made through net banking.
Benefits of IMPS Transfer:
- It provides 24*7 services to its users, which is helpful during an emergency.
- It provides both mobile banking and net banking services which are secure and safe.
- The minimum transaction value is Rs. 1.
- The IMPS Transfer ensures instant money transfer.
- After the transfer, notifications are sent to both parties.