State wise list of Corporation Bank IFSC code, MICR code and addresses of all branches in India
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It is possible to transfer any amount of money from your own savings account to that of a beneficiary’s account anywhere in India using the NEFT or RTGS services. This is possible no matter which bank that you would like to transfer to as long as both yours and the bank branch that you want to transfer to have NEFT/RTGS facility.
You will need to know the IFSC code of the recipient Bank branch in order to complete the transaction. IFSC Code (Indian Financial System code), is unique to each branch of bank in the country. MICR Code (Magnetic Ink Character Recognition Code) is used for both domestic and international transactions. These unique codes which were introduced by RBI is used in order to make transactions more secure, efficient and accurate. Chances of fraud are also diminished thanks to these codes.
As a customer of Corporation Bank, one must find and use the IFSC code for NEFT/RTGS services. Other than for transferring funds to a beneficiary’s bank account, the NEFT/RTGS services can also be used to make payments for Mobile bill payments, Share Trading online, paying loan EMIs, insurance premium payments, ticket booking for bus and railway, booking flight tickets, Equity Trading, Fund Transfers, purchase of mutual funds, etc.
IFSC consists of 11 characters (both alphabets and numbers) which are uniquely assigned to each branch of bank in India. It consists of three parts: the first four characters are alphabets and represent the name of the bank. This is followed by the digit ‘0’ which is there for future use. The final six characters are usually numbers and indicate a particular branch. For example, the IFSC code for a Corporation Bank’s branch is CORP0xxxxxx. The first four alphabets represent the name Corporate Bank, which is followed by a zero. The last 6 digits will identify which branch of Corporate Bank that you are looking for.
IFSC and MICR codes are easily available at various portals such as Corporation Bank’s official website. The complete list is also provided online by the government. You can find the IFSC code of a particular branch printed on the leaves of cheque books provided by the bank branch. You can also find IFSC code of a bank on third party financial websites like BankBazaar which provide people with codes of all the NEFT/RTGS enabled banks in India.
If you decide to visit BankBazaar to find the codes of the particular branch of Corporation Bank, these are the steps you must follow:
Corporation Bank’s customers can make use of the NEFT and RTGS facilities available to transfer funds from any of the Corporation Bank branches to any other bank branches around the country, as long as that branch of bank has the same facilities.
National Electronic Funds Transfer (NEFT):
The NEFT or National Electronic Funds Transfers works on Deferred Net Settlements which means that transactions are done in batches an hourly schedule. If you debit the amount of money that you need to transfer within the time-frame that is stipulated by the bank, it will be credited to the beneficiary on the same day. If not, the amount will be credited on the following working day. At Corporation Bank, the NEFT service is available on weekdays and Saturdays between 8.00 am 7pm, except on the 2nd and 4th Saturdays of the month which are Bank Holidays.
You will need the following information to use NEFT service at Corporation Bank:
The charges for outward NEFT transactions are:
Amount | Charge (per transaction) |
Up to Rs 10,000 | Rs 2.50 |
Rs 10,001 – Rs 1 lakh | Rs 5 |
Above Rs 2 lakh | Rs 25 |
Inward NEFT will not be charged.
Real Time Gross Settlement System (RTGS):
Real Time Gross Settlement System (RTGS) is one of the fastest and safest methods of fund transfer. It is usually used when large sums of money is involved in the process. RTGS transfers funds on an individual basis which means that the clearance of funds are scheduled individually and not batch-wise. Corporation Bank ensures that all the transactions will be completed on the same day that the customer debits the fund, unless it has been done after the indicated time frame.
You will need the following information to use RTGS service at Corporation Bank:
The RTGS Transaction Timings and Corresponding Charges:
RTGS Transaction | Upto 3.30 pm | After 3.30 pm |
Rs.2 lakh to Rs.5 lakh | Rs.29 [25+4 tax] | Rs.35 [30+5 tax] |
Above Rs.5 lakh | Rs.57 [50+7 tax] | Rs.63 [55+8 tax] |
A public sector banking company headquartered in Mangalore, Corporation Bank was initially established as Canara Banking Corporation Limited in Udupi in 1906. The name of the bank was changed to Corporation Bank in 1972. The bank has grown in leaps and bounds since its early inception. Other than the NEFT/RTGS facility that the bank offers, Corporation Bank also has services such as Loans, Credit Cards, Savings, Investment vehicles, etc.
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