State wise list of HDFC Bank IFSC code, MICR code and addresses of all branches in India
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Electronic funds transfer has changed the way people transact. To this effect, the Reserve Bank of India (RBI) has introduced three methods of fund transfer which are National Electronic Fund Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS). All these platforms make the use of IFSC (Indian Financial system Code) to facilitate quick and secure transfer of funds from one bank to another. The IFSC code is an important element when it comes to fund transfer as it serves multiple purposes. All banks which come under the NEFT network are assigned an IFSC code by the RBI which helps distinguish the sender and receiver bank in the event of a transaction.
The IFSC is an 11-digit alphanumeric code which is assigned to all banks participating in the NEFT network. It consists of three The IFSC code consists of three parts - first four characters identify the bank name, fifth character is always 0 and the last six characters represent the branch address. For example, the HDFC IFSC code for the Malleshwaram branch is ‘HDFC0000041’, wherein the first four characters ‘HDFC’ stand for the name of the bank, the fifth character is always zero and the last 6 characters specify the exact branch address.
If you’re looking for the IFSC codes for HDFC bank, you can easily find them online, not only on the HDFC website but also some third party websites. If you are looking for the IFSC code of your home branch, you can find that printed on your cheque book. Additionally, BankBazaar also provides information on the IFSC codes for HDFC Bank. On the BankBazaar main page, go to the bottom of the page you can find the link titled ‘Bank IFSC Code’. Click on the link and you will be taken to another page which shows 4 drop down menus. You have to select the particular bank that you’re looking for, the state, district and the particular branch whose IFSC code you’re looking for. Once you have selected your options, the site will display not only the IFSC code for the particular branch but also the MICR code, address and contact number for the branch.
HDFC Bank offers multiple ways to make hassle free and secure fund transfers, not only to other HDFC Bank branches but also to any other bank branch. Customers can make use of NEFT, RTGS and IMPS to transfer money not only to other HDFC accounts but to accounts held in any other bank.
National Electronic Funds Transfer (NEFT):
HDFC introduces e-Monies National Electronic Funds Transfer, an electronic fund transfer facility which allows for easy, hassle free and convenient money transfer. NEFT transactions done at the branch do not have any maximum transaction limit. However, for net banking transactions, the daily limit has been fixed from Rs 1 and up to Rs 10 lakh. For NEFT transfers done online or at the branch, the bank follows a set schedule of timings.
|
Branch Timing |
Net Banking Timing |
|
Monday to Friday – Branch Working Hours |
Monday to Friday – 6PM |
|
Saturday (except 2nd & 4th) – Branch Working Hours |
Saturday (except 2nd & 4th) – 6PM |
Following are the transaction charges as specified by the bank for NEFT transactions.
|
Amount |
Charge |
|
Up To Rs 10,000 |
Rs 2.5 per transaction (excl. taxes) |
|
From Rs 10,001 – Rs 1 lakh |
Rs 5 per transaction (excl. taxes) |
|
Rs 1 lakh – Rs 2 lakh |
Rs 15 per transaction (excl. taxes) |
|
Rs 2 lakh and above |
Rs 25 per transaction (excl. taxes) |
Real Time Gross Settlement (RTGS):
RTGS or Real Time Gross Settlement is another quick method of money transfer where the transfers are done in real time. RTGS transactions have faster settlement cycles with the absence of inter-bank or clearing house settlement issues. Also, these transactions are not limited to the geographical boundaries of India. HDFC levies a charge of Rs 25 (per transaction) for transactions between the amounts of Rs 2 lakh to Rs 5 lakh and a charge of Rs 50 (per transaction) for all transactions above Rs 5 lakh. There are no transaction limits for transaction done via the branch, but for ne banking transactions, the bank has specified a daily limit of Rs 2 lakh and up to Rs 10 lakh. The timings for RTGS transactions for branch and net banking are as follows:
|
Branch Timing |
Net Banking Timing |
|
Monday to Friday – 3:30 PM |
Monday to Friday – 4 PM |
|
Saturday (except 2nd & 4th) – 3:30 PM |
Saturday (except 2nd & 4th) – 4 PM |
Immediate Payment Service (IMPS):
IMPS (Immediate Payment Service) is another instant inter-bank electronic fund transfer service, offered by HDFC bank. With IMPS, customers can easily send or receive funds, not only on weekdays but Sundays and bank holidays as well. As the name suggests, via IMPS transfers, the money gets credited to the receiver’s account instantly. Charges for IMPS transactions are as follows:
|
Amount |
Charge (per transaction, excluding taxes) |
|
Up to Rs 10,000 |
Rs 5 |
|
Rs 10,001 – Rs 1 lakh |
Rs 5 |
|
Rs 1,00,001 – Rs 2 lakh |
Rs 15 |
Founded in the year 1994, HDFC, also known as the Housing Development Finance Corporation, is one of the leading financial services company in India. As one of the first private bank to be authorized by the RBI, HDFC operates with a network of over 3000 branches and over 11,000 ATMs located across 2,022 Indian cities. The bank offers an extensive range of financial products and services spanning across investment banking, wealth management, private banking, retail banking, corporate banking, mortgages, finance & insurance, credit cards, private equity and more.
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On Friday, HDFC Bank reported an 18.2% growth in net profit resulting in shares gained 2.38% to end at Rs.1,496.75 on BSE. HDFC bank is one among the favorite banks amount the investors for having lower bad loans when compared to other banks. Though the demonetization impacted the credit demand and business for most banks, HDFC Bank still managed to make an excellent growth of 18%. HDFC Bank’s loans also grew by 19.4%. The bank is also one of the few banks to process the most number of home loans under the ‘Pradhan Mantri Awas Yojana Housing for All’ initiative.
21st April 2017
The online payments app, Chillr, has partnered with HDFC Bank to launch its Unified Payments Interface (UPI) based platform. The UPI allows users to operate multiple bank accounts through a single mobile app. Chillr was using the IMPS facility for account-to-account transfers, which is facilitated by HDFC Bank. Before the introduction of UPI Chillr was seeing transactions worth Rs.500 crore a month, with the introduction of UPI it expects to see a quantum jump in transactions to Rs.6,000 crore a month. Chillr is planning to use the UPI platform to facilitate in-store payments using the ‘scan and pay’ facility and online payments.
7th April 2017
HDFC Bank has begun providing loans against shares, and the waiting time for the disbursal will be just two to three minutes. The bank has fully digitised the loan mechanism by joining forces with National Securities Depository Ltd. (NSDL). Shares that are executed via HDFC demat accounts and dematerialised by NDSL could be utilised for pledging, making this the first initiative of its kind in the country, and quite possibly the pioneer in the world too. NDSL and HDFC developed the product following consultation with the Reserve Bank of India.
HDFC’s country head of mortgage, home and unsecured loans, Arvind Kapil, said, "There would probably be no second lender who has managed to put this (product) on the table. We are probably the first to do it and therefore, it is a great day for the country as well"
16th March 2017
HDFC Bank recently revealed that EVA (an electronic virtual assistant) has been launched for customer services. The artificial intelligence-driven chatbot is the first of its kind and has the ability to answer millions of queries from customers across a variety of channels, that too instantly. Eva also has the ability to gather knowledge from a large number of sources, and answers will be provided in simple language. The average time expected to receive an answer from Eva is just 0.4 seconds.
The bank claimed that within just a few days after its release, Eva has already answered more than a lakh queries from thousands of customers who were spread out across 17 countries. With the release of such a facility, customers of the bank can attain information on its services and products instantly. In the future, Eva is pipped to handle real banking transactions too, thereby helping the bank to provide conversational banking.
6th March 2017
HDFC Bank, one of the most prominent private sector lenders has supposedly gone live on the Bharat Bill Payment System (BBPS) for HDFC Bank’s Net Banking for customers. Bharat Bill Payment System is a centralised system that has been created by National Payments Corporation of India involving both banks as well as non-banks which allow certain agents to access bill payments services in a manner that is interoperable. Through this customers can pay all their utility bills instantly.
Customers of HDFC bank can avail of Bharat Bill Payment System after they log onto the Net Banking page of HDFC. This service would also be available for non- HDFC customers as well and will also be incorporated into HDFC Bank’s Mobile Banking soon.
8th February 2017
HDFC Bank has demanded for a reasonable Merchant Discount Rate (MDR) and said that if this charge is not revised, then the digitization process in the country may face problems. HDFC is one of the leaders of the PoS segment and by October, 2016, it had around 2.95 Lakh PoS terminals. MDR is a charge that banks receive for every transaction that is made using Pos Machines at merchant outlets. This charge was withdrawn until December, 2016. The petroleum ministry has asked banks to not take MDR for a while.
You can easily find the IFSC code of any HDFC Bank branch on the BankBazaar website.
24th January 2017
HDFC Bank has initiated a series of digital awareness camps in Uttar Pradesh to facilitate the adaptation of people to cashless transactions. The bank intends to organise about 250 camps across the state over a period of the next two weeks. The camps were formally inaugurated on Wednesday.
The first phase of the camps will see the HDFC Bank training up to 25,000 people in the state. Bank officials will train people on net banking, mobile banking, point of sale terminal and other allied applications.
The regional head of HDFC Bank, UP Division, Sanjeev Kumar stated that the bank's digital literacy camps are targeted at helping customers and traders in their transition from cash to less-cash economy. This is concurrent with the Centre's target of encouraging a full fledged digital economy.
23rd January 2017
Decrease in lending activity, rising bad loans, and marginal cost of funds-based lending rate are some key factors that have impacted banks’ earnings in the last 2 years. Following demonetisation, banks’ cash management and logistics costs have increased. However, steady loan growth, low delinquency and ability to safeguard margins has kept HDFC Bank steady. The stock has fallen by 6% over the last 3 weeks, making it a good time for long-term investors to pick-up the stock.
HDFC Bank raced ahead of ICICI Bank with 22 to 27% growth during the September quarter of last fiscal. Auto and 2 wheeler loans grew by 23%, while personal loans grew by 40%. HDFC Bank has the largest market share in credit cards. With lower burden on capital, the bank is better placed to profit when there is an economic growth. HDFC Bank has managed to keep its GNPAs within 0.9 to 1%.
3rd December 2016
The UPI (Unified Payments Interface) is live on HDFC Bank mobile application now. The banks that have UPI can create virtual payment address and link the bank accounts to their mobile applications. Axis Bank, HDFC Bank and ICICI Bank have the UPI active on their respective mobile applications. Customers of HDFC bank have to input their customer id when they sign up for the virtual payment address. UPI will allow users to send money through their virtual address, account number and IFSC code, mobile number and MMID. HDFC has tied up with RazorPay for UPI payments.
4th November 2016
The success of the trial run of its Banking Awareness Drive has motivated HDFC bank to pursue this CSR activity. As part of this drive, the bank will educate people about banking services and their advantages in 295 villages of Bihar. Last year the bank had run video vans in 15 villages of the state to create awareness about banking services. This year, the video vans will go to 295 villages in 38 districts of the state. The bank has 90 branches in the state at present, out of which 46 branches are located in the semi-urban and rural areas. You can find the IFSC code of any HDFC Bank branch on the BankBazaar website.
19th October 2016
