What is an IFSC CODE? The Indian Financial System Code (IFSC), is a unique Identity given to the banks and their different branches spread across the country by the Reserve Bank of India (RBC). It is a 11 digit alphanumeric code used for e-payment. This unique number distinguishes banks from each other, and even the branches of each bank from one another. These IFSC codes are used for online fund transfer via NEFT, RTGS, and IMPS. These numbers can be found on your cheque book, passbook, official website of RBI and through various IFSC code finders online.
Indian Bank and its IFSC code
Established in 1907, Indian Bank is now one of the seventh largest banks in the country. The bank intends on providing satisfactory bank services to make its users’ banking experience decent. Its headquarters is in Chennai and the branches are spread wide across the country. Indian Bank has also set its foot in foreign countries. The Indian Bank IFSC code is helpful in providing internet banking services.
How to find your Indian Bank IFSC code?
The IFSC code is a 11 digit number that starts with the bank name code and ends with branch code. The IFSC code of Indian Bank is as follows:
IDIB – BANK CODE
The fifth digit is 0. It is the same for all branches.
The last 6 digits are unique for each branch and represent the branch code.
1. Online IFSC CODE Finder
- Search for an IFSC code finder online
- Visit the site which contains the tool
- Four rows will appear namely bank name, State, city and branch.
- Fill Indian Bank under the bank section, your respective State and city and the name of the branch with which you have an account.
- After duly filing the above details, you’ll see your IFSC code on your screen within seconds.
2. Reserve Bank of India (RBI)
- Visit the RBI portal
- Enter Indian Bank under the bank section and your branch name.
- You can see your IFSC code on your screen instantly
3. How to find Indian Bank IFSC Code on Chequebook
A very easy method of finding the IFSC code of your Indian Bank account is to check your cheque book. On the top of the cheque leaf, you will find a code that starts with IDIB and has 7 digits after depending on your branch.
4. Indian Bank IFSC Code Finder on Passbook
You can also find your IFSC code on the first page of your passbook along with your CIF number.
5. How to find Indian Bank IFSC Code on the Bank website?
- Visit the official website of Indian Bank
- Enter your user ID and your password
- Enter the captcha image
- Under your account details, you can see your IFSC number.
Benefits of IFSC number
IFSC code is essential for transfer of funds or online payments. One can make fund transfers through various payment systems. Some of them are:
- NEFT : National Electronics Funds Transfer is a payment system which is based on Deferred Net Settlement (DNS). This payment system is most popular way of transferring funds as it can be used 24*7 without any complications. The funds are transferred in half hour batches. NEFT applies no restriction In the minimum or maximum amount of fund transfer.
- RTGS : Realtime Gross Settlement transfer fund on real time basis. The funds are transferred in real time and on a gross value basis. The minimum amount of fund that can be transferred using RTGS is ₹2 lakhs. There is no restriction on the maximum amount.
- IMPS : Immediate payment system is a fund transfer system within banks in real-time. This can be done throughout the day. The maximum amount that can transferred using this payment system is ₹2 lakhs whereas there is no restriction on the minimum amount.
Know your IFSC code and it’s benefits right away.