Deutsche Bank IFSC and MICR Code:

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Deutsche Bank IFSC Code:

The process of transferring money need not be a long and arduous one anymore thanks to the introduction of NEFT and RTGS modes of money transfer. Instituted by the Reserve Bank of India (RBI), the National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement (RTGS) are the quickest ways to send money wirelessly anywhere in the country. They are also a safe medium to do so, since they are verified by the bank and subject to the strict guidelines laid down by RBI.

Sending money through the two facilities is a very straightforward process, where the beneficiary’s bank details along with the IFSC code of the branch have to be provided. The amount would be transferred on the request being processed.

All bank branches part of the NEFT network have a unique code assigned to them. The IFSC code is also an initiative by RBI to regulate the money transfers taking place in India. It serves another purpose, helping to determine the payee and well as the recipient’s banks in a transaction.

The IFSC code has 11 characters consisting of both alphabets and numbers. Its first four characters are the bank name, followed by the numeral “0”. This is deliberately left blank for later use. The last six characters are the unique code assigned to the bank branch. The Deutsche Bank IFSC code for the Delhi branch located in New Delhi is DEUT0796DEL. In the code, “DEUT” stands for Deutsche Bank, “0” is left blank and “796DEL” is assigned to the specific bank branch in Delhi.

How Do I Search For Deutsche Bank IFSC and MICR Codes?

Looking for the IFSC and MICR codes for branches within the NEFT network is very simple, and there are multiple avenues you can use to locate them. The bank generally has a list of all bank branches part of the NEFT network on its website. Bank branches also print the IFSC and MICR codes of their branch on the leaves of cheque books they issue. You could also find the codes on websites like BankBazaar. On the site’s homepage, scroll to the bottom and select the “Bank IFSC Code” tab. Enter the details such as name of bank, state, district and bank branch and you will be presented with the IFSC and MICR codes for the specified bank branch.

Transferring funds is quick, convenient and safe with the NEFT and RTGS facilities offered by Deutsche Bank. Using these services would save you time since the transfers take place within a few hours and they take place through a secure network. Below are the ways you can use the Deutsche Bank NEFT and RTGS services to make online money transfers worry-free.

NEFT (National Electronic Fund Transfer):

The NEFT services offered by Deutsche Bank are available to customers on banking days between 8:00 am to 5:00 pm. NEFT transfer requests would be settled in hourly batches, the first batch being 8:00 am. This service is unavailable on second and fourth Saturdays and bank holidays. For transaction requests that are received after service hours or those received on holidays, the bank would settle them on the next working day.

There is neither an upper limit nor a lower limit on amounts transferred through NEFT, making this service a popular money transfer method.

Deutsche Bank does not charge its customers a fee for any transactions they receive through NEFT. There is a charge on outgoing transactions. The bank charges for providing this service are as follows:

  • The bank charges Rs. 2.50 for every transaction for amounts up to Rs. 25, 000.
  • The bank charges Rs. 5 for every transaction between Rs. 10, 001 and Rs. 1, 00, 000.
  • The bank charges Rs. 15 for every transaction between Rs. 1, 00, 001 and Rs. 2, 00, 000.
  • The bank charges Rs. 25 for every transaction for amounts of Rs. 2, 00, 001 and above.

The charges given above are exclusive of service tax.

RTGS (Real Time Gross Settlement):

The Real Time Gross Settlement is the quickest means of money transfer in the country. Money transfers by RTGS take place within two hours of the request being made, and these transactions are recorded on RBI’s books. Once the transfer request is made, the amount is settled as soon as the request is processed by the bank. The transactions are settled individually, as opposed to NEFT, where they are settled in batches. While there is no maximum amount that can be transferred at a time, a minimum amount of Rs. 2 lakh has to be transferred per transaction.

Deutsche Bank offers RTGS facilities to its customers from Monday to Saturday between 8:00 am to 3:15 pm on db Onlinebanking, Deutsche Bank’s online platform. The service is available from 8:00 am to 3:30 pm from Monday to Saturday at its branches. This service is not available on second and fourth Saturdays or on bank holidays. For RTGS requests received after the stipulated hours or on holidays, the bank would process the requests on the following working day.

There are no charges for payments received through RTGS. The bank levies a fee for payments made through RTGS, which are as follows:

  • For amounts between Rs. 2 lakh and Rs. 5 lakh, the bank charges Rs. 25 for every transaction.
  • For amounts above Rs. 5 lakh, the bank charges Rs. 50 for every transaction.

The charges above are inclusive of service tax.

Deutsche Bank is a private bank based in Frankfurt, Germany. Set up in 1870 in Berlin primarily for foreign trade, the bank has grown into an investment banking giant, with operations in 70 countries. The bank provides the gamut of financial services to its customers, from corporate finance, wealth management, mergers and acquisitions to retail banking and fund management.

News Related to Deutsche Bank IFSC Code
  • Deutsche Bank Apparently Considering India Retail Business Sale

    In an effort to increase capital levels, Deutsche Bank is considering selling its Indian retail businesses. The asset disposals are not limited to India as the German lender is weighing the sale of its businesses in European nations such as Spain, revealed two people with knowledge on the matter. Although Deutsche Bank has refused to comment on the statement, it has not too long ago sold portions of its India business. About seven years ago, the mortgage operations attained during its takeover of Postbank, a German retail bank, were sold. In 2015, its local asset management unit was also sold. Moreover, the assets in total of Deutsche Bank’s Indian business were worth Rs.693 billion at the end of FY 2016, as confirmed by company filings. In the same fiscal year, Deutsche Bank made profits worth Rs.23.4 billion.

    Having commenced operations in India in 1980, Deutsche Bank has come a long with, with over 11,000 employees currently employed in businesses such as investment banking-advisory, wholesale and retail banking, wealth-management services.

    15th March 2017

  • Developer Portal Opened by Deutsche Bank

    A developer portal has been opened by Deutsche Bank to help third-party software developers in creating financial applications and operating the bank’s APIs. Developers can test their innovations using anonymised banking data using the bank’s dbAPI. This step has been taken to help programmers and developers test their applications and business ideas during the development stage. Deutsche bank conducted a 3 day hackathon in Berlin recently, where developers were given a chance to test its API. The hackathon was won by Finance Guru, Flattr and FinChild.

    1st November 2016

  • Deutsche Bank hit hard by new Capital Rules

    The German Deutsche Bank is among approximately a dozen banks that will be facing higher capital requirements with the new banking rules being rolled out. The Basel committee of supervisors have made the assessment and is in the process of negotiating stricter bank capital rules. This would pose a challenge for the bank as it braces for a $14 billion fine from US authorities over its part in the mortgage debt crash. International supervisors believe that this change will affect banks with complex balance sheets more harshly. The Basel committee has decided to make this move to prevent another financial crisis.

    3rd November 2016

  • Deutsche Bank’s option for to solve capital dilemma limited

    German-based Deutsche Bank has very limited options with regards to solving their capital flow dilemma and the firm is in a fix because it needs to move quickly to boost funds so as to restore investor confidence.

    While the bank began its road to recovery by introducing John Cryan as Chief Executive, it still has a long way to go. In his first step as CEO Mr. Cryan announced that the company would cut staff and and sell their non-core businesses, which to some extent improved the state of the company.

    However, as the US Department of Justice imposed a fine of $ 14 billion for mis-selling mortgage securities which exposed a capital shortfall of over 5 to 10 billion euros.

    17th October 2016

  • Deutsche Bank Might Close Retail Operations in India

    Deutsche Bank, Germany’s biggest lender, is thinking about exiting its retail banking operations in India. The Indian retail operation led to a surge of 93% in Deutsche Bank’s net profit for the financial year ending March 2015 at Rs. 1,406 crores. This hasn’t stopped the bank from contemplating its departure from India to focus on the retail business in UK. There has been no final decision made but this move is a part of a much bigger restructuring plan to boost the operations in Europe. The bank may also be looking to sell its shares in the Hua Xia Bank of China. RBS exited its operations from India earlier this year and Deutsche Bank might soon follow in its footsteps. This points to the loss of some influential IFSC codes, but well, banks have to make money as well, right?

    25th August 2015

  • Deutsche Bank Reports 93% Profits in FY 2015- Aces All Parameters

    Deutsche Bank, the influential German lender may have only 17 branches in India, a mere 17 IFSC codes, but the bank has registered an impressive 93% hike in its profits through the financial year 2015. Breaking down this big number, the apex bank has raced across all measurable parameters. The basic transaction banking and wealth management undertakings have contributed a revenue percentage of 43%, while treasury operations have accounted for a 33% increment in income. Overall, the bank witnessed a 45% increment in revenue to stand at Rs.3, 925 crores. An impressive number, and definitely an impetus for Deutsche Bank to strive for greater glory, in the Indian context.

    15th July 2015

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