All Bank IFSC Code Finder | Search IFSC Code Easily

IFSC Codes By Popular Banks

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Abhyudaya Cooperative Bank Limited Ifsc Code
Ahmedabad Mercantile Cooperative Bank Ifsc Code
Ahmednagar Merchants Co Op Bank Ltd Ifsc Code
Airtel Payments Bank Limited Ifsc Code
Akola Janata Commercial Cooperative Bank Ifsc Code
Almora Urban Cooperative Bank Limited Ifsc Code
Ambarnath Jaihind Coop Bank Ltd Ambarnath Ifsc Code
Andhra Pradesh Grameena Vikas Bank Ifsc Code
Andhra Pragathi Grameena Bank Ifsc Code
Apna Sahakari Bank Limited Ifsc Code
Arvind Sahakari Bank Ltd Ifsc Code
Au Small Finance Bank Limited Ifsc Code

Example of IFSC Code

For example, IFSC for the I P Extension branch of State Bank of India is SBIN0011561, where SBIN represents the bank name, 0 is for future use, and 011561 denotes the branch code.

Sample IFSC Codes of Top Banks in India

Benefits of IFSC code

• Increased Security: The IFSC codes act as an additional layer of security to transaction processes. With unique codes, the chances of errors and fraud or misrouting of funds are significantly reduced. 

• Economical: Using IFSC codes reduced the amounts levied on transaction fees and lower operational charges. Through efficient and correct transactions, there is a low chance of penalties or additional charges. 
• Quick Transactions: By using IFSC codes in transactions, transfers can be made faster. Banks can immediately identify and verify the transactions, reducing the processing time and faster fund transfer. 
• Supports automation: IFSC codes facilitate and streamline the automation of recurring payments.

What is the Importance of IFSC code?

These are the importance of IFSC code in the banking network:

• Secure and Error-free transactions: IFSC code helps in identifying the bank and branch of the receiver where his/her account is located. IFSC code is important to ensure that the transfer made is secure and accurate, and to avoid any error. 

• Paperless transactions: IFSC promotes paperless money transactions through numerous electronic payment tools including RTGS, IMPS, and NEFT. These tools allow immediate or same-day transactions across different banks without the need for physical cheques or cash. Hence, digital transactions are both quick and eco-friendly. 

• Accountability and Transparency: With IFSC, RBI can monitor and control all digital transactions in the financial and banking system. IFSC helps with tracking and monitoring payment transfers, hence reducing the chances of fraud or misuse of funds, and enhances accountability and transparency in the banking system. 

• Easy accessibility to account: IFSC helps in making various online transactions, from online bills, and EMI, to insurance premiums and taxes. Further, it allows individuals to make online purchases and transfer money to individuals. Therefore, it allows individuals to access their bank accounts anytime and anywhere and enjoy a seamless banking experience. 

How to find IFSC Code of your branch?

There are four easy and simple methods to find the IFSC of your bank branch. 

1. Bank Account Passbook: Check for the front sheet of your bank passbook. It has all the necessary details including account number, name, address, IFSC code, and date of birth. 
2. IFSC Code in Cheque Leaf: On every cheque leaf, the account number, IFSC code, cheque number, and MICR code, along with the branch address are mentioned. Usually, the IFSC code is located on the top-left corner of the cheque leaf. 
3. RBI website: You can search for your IFSC code on the RBI website. The website has a tab for ‘IFSC’, where you can find IFSC code by entering the bank and branch name. 
4. Bank website: You can also find the IFSC code on the bank’s website. Almost all banks have a branch locator tool that enables users to find the IFSC code by searching the branch name in the search bar. 

How Does IFSC Code Work?

Here’s how IFSC codes are used in bank transactions: 

1. Verify the IFSC code: Find the 11-digit IFSC code specific to the recipient’s bank branch. You can find the IFSC code on the recipient’s bank passbook, chequebook, statement, or bank’s website. 
2. Start the transaction: When you make a digital transfer like NEFT, RTGS, or IMPS through your bank’s app or net banking software, you’ll be brought to enter the receiver’s account number and the IFSC code.
3. System verifies the branch code: The bank’s system uses the IFSC to recognize the specified bank branch. While the first 4 characters specify the bank name, the last 6 characters identify the branch code, and the ‘0’ is the fifth character being used as the separator. 
4. Payment confirmation: Once you have entered the necessary details, proceed to confirm the transfer. The IFSC code guarantees that the transfer is directed to the appropriate bank branch. 
5. Transaction completion and tracking: The RBI National Clearing Cell tracks the transaction and ensures accuracy and security by checking the IFSC code and matching it with the beneficiary account.

Online Money Transfer using IFSC Code:

The IFSC code is required in primary three modes of electronic fund transfer- NEFT, RTGS, and IMPS. These modes of fund transfer allow customers to make payments from one bank account to another seamlessly. 

Choosing the digital transfer system reduces the chances of errors in a transaction because the transaction is authorized only if the details like the receiver’s bank-specific IFSC code and account number are given and are accurate.

• NEFT: NEFT stands for National Electronic Fund Transfer. It allows the transfer of funds between banks in India and hence is a popular money transfer system. In NEFT, IFSC codes are a must to ensure that the money is securely transferred from one bank to another. Other than the IFSC code, beneficiary name, account number, and account type are also important to complete the transaction. 

• RTGS: It stands for Real Time Gross Settlement. It is another easy and popular option for fast transfer of funds from one bank to another. In RTGS, the IFSC codes work the same way as in the case of NEFT- helping to identify the participating bank branches. RTGS fund transfers are generally used for high-value transactions and are done immediately. In RTGS transactions, the recipient’s name, account number, IFSC code, and transaction amounts are required to be filled. 

• IMPS: IMPS, an acronym for Immediate Payment Service, is again a popular method of digital transactions. It is relatively a new payment option in India (founded in November 2010). Through this service, funds can be transferred immediately and across all prominent banks of India via mobile phone, ATM, or online. It is highly safe, fast, economical, and does not restrict the maximum amount of transfer. However, an IFSC code is required to initiate an IMPS transaction. 

How Can One Make Transactions USing IFSC Code of Bank Account?

There are two modes of making transactions, offline and online mode. While the former uses visiting the bank, filing the form, and waiting for the processing, the latter is done digitally using IMPS, NEFT, and RTGS methods and is reliable, quick, and secure as well.

To make online transactions, the individual is required to meet these requirements: 

• The individual needs to be registered on the bank’s net banking service. 
• The individual must be registered for third-party transactions. (In this context, third-party means a recipient from a different bank, other than yours).
• Register the receiver’s account to which the transfer is to be done.

FAQs

IFSC and RTGS are usually used interchangeably to refer to the same code, which is the 11-digit Indian Financial System Code (IFSC). RTGS stands for Real Time Gross Settlement and is a kind of payment method that requires an IFSC code to complete the transaction.