Indian Bank

Indian Bank IFSC code & MICR code

State wise list of Indian Bank IFSC code & MICR code.

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The Indian Bank IFSC code and MICR code are 11-digit and nine-digit numbers, respectively, that are printed on the cheque books issued by the bank. 

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The Indian Bank IFSC code, a 11-digit number that uniquely identifies a bank branch for online fund transfers. While the nine-digit MICR code enables faster processing of cheques which is found at the bottom of a cheque leaf. Both these codes ensure secure and efficient transactions. Read to know more about Indian Bank IFSC and MICR code. 

How to Search for Indian Bank IFSC and MICR Codes

Both IFSC and MICR code is printed on the cheque leaf that is issued by Indian bank to its customers. The codes may also be printed on other bank material.

The code can also be found very easily using the internet as there are many websites and third-party sites. The sites can help in finding the necessary information in a matter of minutes. BankBazaar is one such website through which individuals can find the IFSC and MICR code of any bank that operates in the country. This can be done by following the mentioned below steps:

Step 1:  You need to visit the BankBazaar website 

Step 2:  Tou needs You need to visit the IFSC main page

Step 3: The next step is to fill up all the options displayed in the drop-down menus

Step 4: Once the step is completed properly, the IFSC code of the particular bank branch along with the MICR code, bank address and phone number are displayed.

How to Transfer Money Using Indian Bank NEFT and RTGS?

Indian Bank offers customers the convenience of transferring funds using NEFT, RTGS, and IMPS that enables customers to perform fund transfer across various banks, accounts, states, and cities. 

Real Time Gross Settlement System (RTGS): 

  1. RTGS is available for fund transfers for amounts starting from Rs.1 lakh. 
  1. Transfers can be made via net banking or by visiting the bank branch. 
  1. Customers need to fill a Fund Transfer Instruction form with details like: 
  1. Name of the recipient 
  1. Account number and type 
  1. Bank name, branch, and IFSC code 
  1. Amount to be transferred 
  1. Remarks for the recipient 
  1. RTGS services are accessible on weekdays and Saturdays, except Sundays and national holidays.

National Electronic Funds Transfer (NEFT): 

NEFT is ideal for transferring smaller amounts less than Rs.1 lakh and to initiate a transfer, customers should fill in the Fund Transfer Instruction form at the bank, providing the following details: 

  1. Name of the recipient 
  1. Account number and type 
  1. Bank name, branch, and IFSC code 
  1. Amount to be transferred 
  1. Message or remark for the recipient 

Fees and Charges of RTGS and NEFT Transaction by Indian Bank 

Transaction type

Amount 

Charges (per transaction)

RTGS 

Minimum amount of Rs.2 lakh 

Nil 

Sum between Rs.2 lakh to Rs.5 lakh 

Rs.25 plus applicable taxes 

Sum between Rs.5 lakh to Rs.10 lakh 

Rs.50 plus applicable taxes 

NEFT 

Cash up to Rs.10,000 

Rs.2.50 plus applicable taxes 

Sum between Rs.10,000 and Rs.1 lakh 

Rs.5 plus applicable taxes 

Sum between Rs.1 lakh and Rs.2 lakh 

Rs.15 plus applicable taxes 

Sum between INR 2 lakh and INR 5 lakh 

INR 25 + Applied Taxes 

Sum between Rs.5 lakh and Rs.10 lakh 

Rs.25 plus applicable taxes 

Where can I find IFSC and MICR Codes?

  1. You can find the IFSC code on the top left corner of the cheque leaf, at the end of the branch address.
  2. You can find the MICR code at the bottom of the cheque leaf.
  3. You can find both IFSC code and MICR code on the official RBi website.

About Indian Bank 

Indian Bank was established in 1907 with headquarters in Chennai, which became government-owned in 1969. It now operates around 2,149 branches across over 70 countries, with subsidiaries in housing and merchant banking, and consistently reports a net profit of nearly a thousand crores. The bank offers various banking services and has two subsidiaries, Indian Bank Housing Ltd. and Indian Bank Merchant Banking Services Ltd. 

FAQs on Indian Bank IFSC Code & MICR Code

  • Do all the Indian bank branches have a unique IFSC code?

    Yes, all the Indian bank branches have a unique IFSC code.

  • Do all the Indian bank branches have a unique MICR code?

    Yes, all the Indian bank branches have a unique MICR code. 

  • Is it possible to make electronic payment transfer like NEFT and RTGS without knowing the IFSC code?

    No, it is not possible to make electronic payment transfer like NEFT and RTGS without knowing the IFSC code. 

  • Is the IFSC code same as the branch code?

    No, an IFSC code is not the same as a branch code. 

  • Has the IFSC code of the Allahabad Bank changed post-merger with the Indian Bank?

    Yes, the IFSC code of the Allahabad Bank changed post-merger with the Indian Bank. 

  • An IFSC code consists of how many digits?

    The IFSC is an 11 digit alpha numeric code, with the first four digits identifying the bank, fifth is numeric (kept 0) and the last six digits represent the bank branch. This code identifies every bank branch uniquely and is important during electronic transactions like NEFT and RTGS. 

  • What is the use of Indian Bank IFSC code?

    Indian bank IFSC code allows quick and error-free identification of the bank and its every branch during the electronic money transfer process. It also speeds up and simplifies the transfer of funds.

  • I do not know the MICR code of my Indian bank branch. Where can I find it?

    Look for the Indian bank branch MICR code in your cheques book. It is always mentioned at the bottom of your cheque leaf, next to the cheque number (on the right-hand side). 

  • Is IFSC code used on in India?

    Yes, IFSC code is used only in India. For transactions in foreign countries, SWIFT code is used. 

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