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Indian Bank IFSC Code & MICR Code Directory

Find verified Indian Bank IFSC codes, MICR codes, and branch addresses for secure NEFT, RTGS, and IMPS transactions.

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Indian Bank IFSC Code Search

An 11-digit identification number called the Indian Bank IFSC code aids in directing online money transfers to the appropriate branch. However, the nine-digit MICR code, which is printed at the bottom of checks, expedites the processing of checks. These codes work together to guarantee secure and easy banking transactions. To find out more about the IFSC and MICR codes for Indian Bank, continue reading.

What does the IFSC Code mean?

The beneficiary's account's bank and branch are uniquely identified by the Indian Financial System Code (IFSC), guaranteeing that money is transferred accurately and promptly. It is essential for facilitating safe online transactions, including e-commerce purchases, insurance premiums, tax payments, and bill and installment payments.

IFSC codes lower the risk of fraud by tracking and monitoring transactions in addition to facilitating transfers. The regulatory authority can regulate and supervise electronic payments thanks to the IFSC's standardisation of digital transfers, which improves the banking system's transparency and consumer protection.

What is a MICR Code?

MICR (Magnetic Ink Character Recognition) is a 9-digit code printed at the bottom of a cheque. It helps speed up and secure the cheque clearance process. Each MICR code is unique to a specific bank branch, allowing quick and accurate identification during processing. The code is printed in magnetic ink, which can be easily read by MICR machines for faster clearing.

MICR Code Format
The 9-digit MICR code is structured as follows:
First 3 digits – Represent the city (aligned with the PIN code)
Next 3 digits – Denote the bank
Last 3 digits – Indicate the branch

How to Search for Indian Bank IFSC Codes

It's easy to find your bank's IFSC code. It is easily found on the first page of your bank passbook or in your chequebook. Processing any kind of online fund transfer, whether through RTGS, IMPS, or NEFT, requires the IFSC code. No digital fund transfer can be finished without a valid IFSC code.

Make sure you have the beneficiary's information before starting a transfer:
  • The account holder's full name
  • Name of the recipient's bank
  • The IFSC code of the bank branch
  • Account number of the recipient
  • Account number of the sender
  • The amount that will be moved
To guarantee a speedy and secure transfer of your funds, these details are required.

How to Transfer Money Using Indian Bank NEFT and RTGS?

Indian Bank allows seamless fund transfers through NEFT, RTGS, and IMPS, making it easy for customers to send money across different banks, accounts, cities, and states with ease and security.

Real Time Gross Settlement System (RTGS)

RTGS is ideal for high-value fund transfers starting from ₹1 lakh. Customers can use either net banking or visit their nearest Indian Bank branch to initiate a transfer.

To complete the RTGS transaction, the following details are required:
• Recipient's full name
• Account number and account type
• Bank name and branch
• IFSC code of the recipient's bank
• Transfer amount
• Optional remarks for the recipient

Availability:
RTGS services are operational on weekdays and Saturdays, excluding Sundays and national holidays.

National Electronic Funds Transfer (NEFT)

NEFT is best suited for transferring smaller sums, typically below ₹1 lakh. Transfers can be done either through net banking or by visiting the Indian Bank branch.

To initiate an NEFT transfer, customers must provide the following details in the Fund Transfer Instruction form:
• Recipient's name
• Account number and account type
• Bank name and branch
• IFSC code of the recipient's bank
• Transfer amount
• Optional message or remark for the recipient

Note: NEFT transactions are processed in batches throughout the working day, ensuring safe and efficient fund transfers.

Fees and Charges of RTGS and NEFT Transaction by Indian Bank Explained

Transaction typeAmountCharges (per transaction)
RTGSMinimum amount of Rs.2 lakhNil
RTGSSum between Rs.2 lakh to Rs.5 lakhRs.25 plus applicable taxes
RTGSSum between Rs.5 lakh to Rs.10 lakhRs.50 plus applicable taxes
NEFTCash up to Rs.10,000Rs.2.50 plus applicable taxes
NEFTSum between Rs.10,000 and Rs.1 lakhRs.5 plus applicable taxes
NEFTSum between Rs.1 lakh and Rs.2 lakhRs.15 plus applicable taxes
NEFTSum between INR 2 lakh and INR 5 lakhINR 25 + Applied Taxes
NEFTSum between Rs.5 lakh and Rs.10 lakhRs.25 plus applicable taxes

How to Open an Account in Indian Bank?

Indian Bank provides a range of accounts designed to meet the needs of both individuals and businesses. In addition to facilitating transactions and saving, these accounts also allow users to earn interest on deposits and maintain financial stability.

What are the eligibility criteria to open Indian Bank Savings Account?

To open an account with Indian Bank, you must meet the following conditions:
• Must be a citizen of India
• 18 years or older (Minors can have accounts opened on their behalf by parents or legal guardians)
• Must have valid identity and address proof issued by the government
• Must make an initial deposit based on the type of account and its minimum balance requirements

What documents are needed to open an account in Indian Bank?

To open the account, you'll need to submit:

Proof of Identity (any one):
• Aadhaar Card
• Passport
• Driving License
• Voter ID Card

Proof of Address (any one):
• Aadhaar Card
• Passport
• Driving License
• Voter ID Card
• PAN Card (mandatory)
• Form 16 (only if PAN is unavailable)
• Recent passport-size photographs

FAQs on Indian Bank IFSC Code and MICR Code

What are the requirements to open an Indian Bank account?

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Any Indian citizen who is 18 years of age or older and whose application includes a legitimate form of identification that has been accepted and authorised by the Indian government is eligible to open an account with Indian Bank.

What documents are needed to open an Indian Bank account?

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To open an Indian bank account, you must provide identification, proof of address, a PAN card, and recent passport-size photos.

What information is required for Fund Transfers via Indian Bank?

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To transfer funds using Indian Bank (via NEFT, RTGS, or IMPS), you'll need the following details: Transfer amount, Your Indian Bank account number, Recipient's full name, Recipient's bank name & account number, Recipient's bank branch IFSC code

Do all Indian Bank branches have a unique IFSC code?

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Yes, every Indian Bank branch is assigned a unique IFSC code for precise identification during electronic fund transfers.

Do all Indian Bank branches have a unique MICR code?

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Yes, each Indian Bank branch has a distinct MICR code used primarily for processing cheques.

Can I make NEFT or RTGS transfers without knowing the IFSC code?

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No, IFSC codes are mandatory for initiating NEFT or RTGS transactions. They help route the payment to the correct branch.

Is the IFSC code the same as the branch code?

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No, IFSC codes and branch codes are different. The IFSC code is an alphanumeric identifier for online transactions, while branch codes are internal identifiers.

Did Allahabad Bank's IFSC codes change after merging with Indian Bank?

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Yes, after the merger, Allahabad Bank branches were assigned new IFSC codes under Indian Bank.

What does an IFSC code consist of?

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An IFSC code is an 11-character alphanumeric code: First 4 characters: Bank name, 5th character: Always '0' (reserved for future use), Last 6 characters: Specific branch code

What is the purpose of the Indian Bank IFSC code?

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The IFSC code enables quick, secure, and error-free fund transfers by identifying both the bank and the specific branch involved.

I don't know the MICR code of my Indian Bank branch. Where can I find it?

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You can find the MICR code at the bottom of your cheque leaf, printed next to the cheque number.

Is the IFSC code used only in India?

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Yes, the IFSC code system is exclusive to India. For international transactions, a SWIFT code is used instead.
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