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Find Bank IFSC Code of all Branches, for NEFT, RTGS & IMPS Transaction

Welcome to NEFTIFSCCode.com, This website is solely for the purpose of fetching Bank information residing in India. You will find bank IFSC Code, Branches of the banks, Contact details and address, including the bank branch code and MICR Code. IFSC Code is needed when you have to transfer funds online for NEFT , RTGS and IMPS transactions. Below you can find the information required.

Remember: Different branches of Bank will have a different and unique IFSC Code allocated to the respective Bank Branch by RBI. So please find the details very carefully, otherwise, the chances are, your NEFT, IMPS or RTGS transactions would fail.

 
 
 

Locate Any Bank Branch in India with the Bank IFSC code for NEFT, RTGS and IMPS Transaction

The Indian Financial System Code (IFSC) is an 11 character alphanumeric code used to identify the bank and its branch in which the account is held. The bank IFSC code is assigned by RBI to distinguish the different branches that are participating in the NEFT system in India. This code is used by the RTGS, NEFT and IMPS systems. This code enables you to access your account from any part of the world to transfer funds.

NEFT (National Electronic Funds Transfer) is a system that allows people to transfer funds from the bank to individuals, firms or businesses. RTGS (Real Time Gross Settlement) is a term used to define the continuous settlement of funds transferred on a gross basis by individuals. These systems use the IFSC codes to route the messages to the concerned bank branch.

NEFT / RTGS Holidays in 2015

Apart from every Sunday, the NEFT and RTGS transactions won't be available on following dates in the year 2015.

Date Holiday Reason
26 Jan, 2015 Republic Day
01 April, 2015 Annual Closing of Banks
01 July, 2015 Annual Closing of RBI
18 July, 2015 Eid al-Fitr
15 Aug, 2015 Independence Day
02 Oct, 2015 Gandhi Jayanti
22 Oct, 2015 Dussehra
25 Dec, 2015 Christmas Day

On the above days, if both the participating banks (debtor and creditor) support IMPS Funds Transfer, you have an option to transfer funds through IMPS. You can only transfer funds from Re 1 to Rs 2 lakh.

NEFT, RTGS and IMPS Transaction Limits

Following table gives you information about how much is the minimum and maximum amount you can transfer and receive funds through NEFT, RTGS and IMPS.

Transactional Limits NEFT RTGS IMPS
Minimum: Re 1 Rs 2 lakh Re 1
Maximum: Rs 10 lakh Rs 10 lakh Rs 2 lakh

Transaction charges are separately applicable to the remitter, you will be charged according to the RBI standards. There is no inward charges. That means, the beneficiary account holder will not be charged when you transfer them the money. As per RBI standards, no charges to be levied on beneficiaries (Updated on 24/02/2015).

What are the transaction charges for NEFT, RTGS and IMPS fund transfer?

Following table gives you the information on how much are the charges for the transactions :

Transaction Charges NEFTRTGSIMPS
Re 1 - Rs 10,000 Rs 2.50 + Service Tax NA Rs 5 + Service Tax
Rs 10,000 - Rs 1 lakh Rs 5 + Service Tax NA Rs 5 + Service Tax
Rs 1 lakh - Rs 2 lakh Rs 15 + Service Tax NA Rs 15 + Service Tax
Rs 2 lakh - Rs 5 lakh Rs 25 + Service Tax Rs 25 + Service Tax NA
Rs 5 lakh - Rs 10 lakh Rs 25 + Service Tax Rs 50 + Service Tax NA

The charges in the above table are applicable for the remitter. For RTGS fund transfer, the minimum amount you can transfer / receive is Rs 2 Lakh. So you can use NEFT system to transfer funds below Rs 2 Lakh.

IFSC code information

The bank IFSC code is an excellent and unique code for the international electronic payment system. As mentioned above, it is comprised of 11 alphanumeric characters. These characters are defined below:

·         The first four digits represent the bank code e.g. ANDB for the Andhra Bank.

·         The 5th digit is a zero by default i.e. 0.

·         The last six digits identify the bank branch e.g. 001767.

So, the bank IFSC code for Andhra Bank, Bhavnagar in Gujarat is ANDB-0-001767. In this way, you can find the IFSC code for your bank by entering the bank name, branch name, state, city and district information.

IFSC codes and financial transactions

The bank IFSC codes are used by all the electronic funds transfer mechanisms and online banking solutions to know the starting and ending point of each financial transaction. The online transfer of funds can be carried out in a more safe and accurate way by using the IFSC codes.

IFSC code and IMPS (Immediate Payment Service)

IMPS is known as Interbank Mobile Payment Service or Immediate Payment Service. IMPS transaction can be done any time, it is 24 x 7 operating, unlike NEFT transaction which is bound to timings and the day. IMPS is available even on Sundays and bank holidays. The beneficiary account is credited immediately when a Fund Transfer request is made through your Mobile phone / Internet Banking. The minimum amount that can be remitted through IMPS is Re 1, while the maximum amount is Rs 2 lakh. If you want to transfer money above 2 lakh, you have 2 options, through NEFT or RTGS. IMPS transactions are charged at slightly higher than NEFT. For amounts upto Rs 10,000 , Rs 5 + service tax. (as on 09-06-2015).

IFSC codes and Internet banking

The IFSC codes have brought about a huge revolution to the internet banking system in India. Apart from managing the NEFT and RTGS, the IFSC codes are used for third-party funds transfer, online banking transactions, and online purchases. The bank IFSC codes enable high security and precision and give a unique identification to each bank. This code helps in the coordination and successful exchange of funds between the sender and the recipient bank. Also, please note, NEFT transactions is bound to timings, on weekdays 8:00 AM to 7:00 PM and 8:00 AM to 01:00 PM on Saturdays. NEFT transactions are closed on Sundays. So you cannot transfer funds from your account to any other accounts, as none of the banks would be processing NEFT and RTGS transactions. Other than Sundays, on certain occasions , NEFT & RTGS systems won't be operating hence your transactions will not be processed.

How to use IFSC code for PayPal NEFT?

To send money via PayPal NEFT, you’ll need to enter the name of the bank of the account holder, the branch location, the name of the account holder and the IFSC code. If a beneficiary has not provided you the IFSC code, you can find it online. Once you’ve found the IFSC code, you can list the beneficiary on your PayPal account. You can now carry out the PayPal NEFT by simply entering the person’s email address.

IFSC codes and mobile apps

There are some mobile apps that enable you to get the bank IFSC codes. One of the apps is named as ‘IFSC code’. This app will allow you to save and share the IFSC codes, and it contains all states, districts, cities and branches names, branch locations, contact details,

How to use IFSC code for PayPal NEFT?

To send money via PayPal NEFT, you’ll need to enter the name of the bank of the account holder, the branch location, the name of the account holder and the IFSC code. If a beneficiary has not provided you the IFSC code, you can find it online. Once you’ve found the IFSC code, you can list the beneficiary on your PayPal account. You can now carry out the PayPal NEFT by simply entering the person’s email address.

IFSC codes and mobile apps

There are some mobile apps that enable you to get the bank IFSC codes. One of the apps is named as ‘IFSC code’. This app will allow you to save and share the IFSC codes, and it contains all states, districts, cities and branches names, branch locations, contact details,