Indian Bank Account Number

Indian Bank is a state-owned banking and financial services company, established in 1907. The bank is headquartered at Chennai with the countrywide network of 2836 branches. It offers a number of banking and financial services such as savings accounts, fixed deposits, loans, etc. For each of the financial product, an applicant gets an Indian Bank account number.

It has its presence in 75 countries, through its overseas correspondence banks. Indian Bank also has its foreign branches in Colombo and Singapore as well. It’s one of the top-performing public sector banks in India with a wide range of banking and financial services offered to its customers. Indian Bank also offers diversified financial solutions through its two subsidiaries, including Indbank Merchant Banking Services Ltd. and Indbank Housing Ltd.

Most of the traditional banks have transformed to become modernised by stepping into the core banking system and digitalization. Basically, the core banking system brings in more efficiency in the banking system as the whole bank is treated like one setup which allows account holders to operate the account from anywhere and anytime. Like many other banks, Indian bank was also moved on to core banking platform way back in 2008. Indian bank also offers net banking and mobile banking services to help you operate your bank account anytime and at your convenience. Electronic payments like IMPS (Immediate Payment Services), RTGS (Real Time Gross Settlement) and NEFT (National Electronic Funds Transfer) help you receive and pay money anytime using your core banking account number.

Indian Bank Account Number Format

As digital transformation has changed the scenario of the Indian banking industry, today almost every public sector and private sector bank are working on core banking platform for enhanced services and better results. All Indian bank’s branches also do provide core banking services (anytime, anywhere banking). With the technology advancement in the banking system, account number formats have changed across the banks. However, there is no uniformity in the account number format followed by several banks in India. Indian Bank account number’s length may vary from 9 to 18 digits depending upon the core banking product used by the particular branch.

BaNCS and Finacle are the two major core banking product used widely in India. TCS’s BaNCS generates random numbers for the accounts opened without any details of branches or products included. Finacle generates account numbers in a serial format, including various details, such as branch code, scheme code, serial number, etc.

When you open an account with Indian Bank, you will be issued an account number with 9 digits. As Indian Bank uses BaNCS core banking, account numbers are issued on a random basis. The account number can be extended to 17 digits and prefixed with zeros.

To execute a successful money transfer, a complete account number is what you need to have for any bank. Apart from the account number, IFSC code and MICR code are crucial for money transfer.

IFSC and MICR Code for Indian Bank Account Number

IFSC code denotes bank and branch information in its 11-digits. For example, if an IFSC code is IDIB000J028,

• First four digits – ‘IDIB’ is the bank identifier for Indian bank
• The fifth digit is ‘0’
• Last six digits – ‘00J028’ is used as a branch identifier which is J P Nagar Indian bank branch in this case.
• Likewise, the MICR code, which is the 9-digit numerical code used for money transfer represents city, bank and the branch information in a unique way.

Lastly, having a history of more than a century, Indian bank continues to provide specialised banking services with its 100% core banking solutions and huge plans of financial inclusion for rural development.

FAQs

How can I know my account number in Indian Bank?

You can check your account number by giving a missed call or sending an SMS from your registered mobile number on the Indian Bank balance enquiry – 180042500000 alternatively, you can check your account number from the statement and the passbook.

What is the minimum balance required in Indian Bank?

Minimum balance required for Rural or Semi Urban areas is Rs. 1,000 with cheque facility and Rs. 500 without cheque facility. For Metro or Urban areas is Rs. 2,500 with cheque facility and Rs. 1,000 without cheque facility.

Which bank has been merged with the Indian Bank?

The government has merged Allahabad Bank with Indian Bank.

How can I access online banking post the merger of Allahabad Bank with Indian Bank?

The customers can access online banking by downloading IndOASIS app

What are the changes made post the merger of Allahabad Bank?

The changes are made in IFSC code, mobile banking, cheque book and passbook of Allahabad Bank

What is the interest rate offered by the bank on savings account?

Up to Rs. 10 lakh	2.75% per annum
More than Rs.10 lakh to less than Rs. 200 Crore	2.80% per annum
Rs. 200 Crore and above	2.90% per annum