AXIS Bank IFSC refers to an 11-character unique code that acts like a postal address of all the banks taking part in various fund transfer systems in India. The Code is developed by the RBI and allotted to all the registered banks in India. The code helps in exchanging funds between the banks in an accurate manner.
Examples
| State | Branch | IFSC Code |
| Assam | Chirang | UTIB0003874 |
| Chandigarh | Bilaspur | UTIB0000164 |
AXIS Bank IFSC Structure
The IFSC Code of Axis Bank Kapodra (Surat) branch is UTIB0002083
| Bank Code | Zero | Branch Code | ||||||||
| U | T | I | B | 0 | 0 | 0 | 2 | 0 | 8 | 3 |
- The first 4 characters ‘UTIB’ stands for the bank’s code
- The fifth character is ‘0’ which is the same for all banks
- The last 6 characters ‘002083’ stands for the Axis Bank's branch code, in this case, this code belongs to the Kapodra (Surat) branch of Axis Bank
Why do we need the Axis Bank IFSC Code?
RBI developed IFSC to streamline the fund transfer process in India. While carrying fund transfer one always wants to make sure that his/her funds get transferred to the right bank. To ensure this it is important to mention the correct IFSC of the receiver’s bank.
Hence IFSC plays an essential role in carrying out fund transfers in an error-free and quicker manner.
With the coming up of net banking and mobile banking now there is no need to stand in queues for hours to transfer money. Simply enter the right IFSC of the sender’s and receiver’s bank and perform the transaction.
How to transfer money using the Axis Bank IFSC Code?
India has several payment systems which include both gross and net settlement systems. With the coming of online banking in India, these payments systems have taken an edge over traditional banking methods. Now one can transfer money easily being at any part of the world just by getting registered for these payment systems.
NEFT
- It is an electronic money transfer system initiated by the RBI. One can simply make NEFT Payment via online banking methods or by visiting the bank branch
- NEFT is based on a system called the DNS (Deferred Net Settlement) Whereby it operates in hourly batches starting from 00:30 hours and ending at 00:00 hours
- Unlike RTGS, NEFT operates around the clock even on weekends and bank holidays
RTGS
- RTGS is a countrywide real-time payment system whereby funds are transferred in real-time. This type of fund settlement process is usually meant for high-value transactions
- In the case of RTGS once the transaction is made the amount transferred is irrevocable
- As the RTGS is maintained by the RBI, hence the transfer via RTGS is secured and hassle-free
IMPS
- IMPS is an immediate fund transfer system that uses phones as a channel to make interbank fund transfer
- IMPS was initiated by the NPCI and it is based on the NFS (National Financial Switch)
- IMPS operates on real-time and is functional around the clock including the bank holidays
How to find the Axis Bank IFSC Code & MICR Code?
One of the ways to find the Axis Bank IFSC Code & MICR Code is by visiting the online IFSC search tool developed by the Paisabazaar. Get to the tool and choose the state, city, and the branch for which you want the IFSC and the MICR code. The results will be displayed on the screen.
Alternatively one can find the list of banks with their IFSC on the Reserve Bank of India website.
Where to find Axis Bank IFSC Code?
- Axis Bank Cheque Book: One can check the IFSC of his/her bank branch printed on the cheque bank allotted by the Axis Bank. We can see that the IFSC is printed at the top of the cheque page.
- Axis Bank Passbook: While opening an account with the Axis Bank, customers are handed a passbook wherein all the transactional activities would be mentioned. One can use the passbook to look for the Axis Bank IFSC.
- Digital Banking Platforms: Digital banking platforms have made banking lot more convenient, faster, and secure. Hence one can utilize the Axis Bank Interbanking facility or the Axis Bank Mobile Banking facility to get the IFSC.
What is the Axis Bank MICR Code?
MICR Code stands for Magnetic Ink Character Recognition. It is basically a technique used for printing these codes on the cheques. Every bank branch in India is given a unique 9-digit MICR Code that helps the RBI to recognize all the bank branches and fasten the cheque clearing process.
Examples of Axis Bank MICR Code
| STATE | BRANCH | MICR Code |
| Bihar | Banka | 813211002 |
| Assam | Chirang | 783211503 |
Where to find Axis Bank MICR Code?
- Axis Bank Cheque Book: One can check the MICR Code of his/her bank branch printed on the cheque bank allotted by the AXIS Bank. We can see that the MICR Code is printed at the bottom of the cheque page.
- Axis Bank Passbook: While opening an account with the Axis Bank, customers are handed a passbook wherein all the transactional activities would be mentioned. One can use the passbook to look for the AXIS Bank MICR Code.
- Digital Banking Platforms: Digital banking platforms have made banking lot more convenient, faster, and secure. Hence one can utilize the AXIS Bank Interbanking facility or the AXIS Bank Mobile banking facility to get the MICR Code.
What is the Axis Bank Swift Code?
Swift Codes are used by the BIC (Bank Identifier Codes) to recognize a particular bank branch of a Bank. Basically a SWIFT Code provides an exact address of the receiver’s bank branch located across the globe. Hence SWIFT Codes channelizes the fund to the right bank branch. The SWIFT code is formed by the combinations of 8 to 11 digits and alphabets.
How to find the Axis Bank Swift Code?
The most appropriate way to find the Axis Bank Swift Code is to contact the AXIS Bank Customer Care and then ask for the same.
Difference between Axis Bank MICR Code, SWIFT Code, and IFSC code?
| Axis Bank MICR Code | Axis Bank IFSC Code | Axis Bank SWIFT Code |
| The MICR code stands for Magnetic Ink Character Recognition. | The full form of IFSC is the Indian Financial System Code. | The full form of SWIFT Code is Society of Worldwide Interbank Financial Telecommunication. |
| It is a 9-figure code used by banks for faster processing of cheques. | It is the 11-character code dedicated to each bank branch for the process of fund system. | The code consists of 8 to 11 digits used as a bank branch identifier at international levels. It is similar to IFSC but used across the globe |
| Example: The IFSC Code of Axis Bank Banka (Bihar) branch is 813211002 | Example: The IFSC Code of Axis Bank Kapodra (Surat) branch is UTIB0002083 | Example: The Swift Code of Axis Bank (NEW DELHI BRANCH) is AXISINBB007 |
Frequently Asked Questions (FAQs)
How to locate the nearest Axis Bank branch from IFSC Code?
| Bank Code | Zero | Branch Code | ||||||||
| U | T | I | B | 0 | 0 | 0 | 2 | 0 | 8 | 3 |
If we look at the structure of IFSC Code of Axis Bank it can be seen that the Code is made of 11 alpha-numeric characters which can be divided into 3 parts -
The first 4 characters ‘UTIB’ stands for the bank’s code
The fifth character is ‘0’ which is same for all the banks
The last 6 characters ‘002083’ stands for the Axis Bank's branch code
Hence from the last 6 characters, one can locate the Axis Bank Branch.
How to search AXIS Bank IFSC Code by account number?
Axis Bank IFSC Code is not possible with the help of the account number, instead one can visit the Paisabazaar IFSC search tool or the RBI website to look for the Axis Bank IFSC.
Does Axis Bank Credit Card has IFSC Code?
A credit card never has an IFSC Code. IFSC code is instead used while making online Axis Bank credit card payment.
What is the Axis Bank CIF Number?
Axis Bank CIF Number is a unique code that gives the bank personals the authority to decode the information of an account holder for the authentication process. CIF Number is basically Customer Information Number and is unique to every customer of Axis Bank.
What is the Axis Bank BSR Code?
Axis Bank BSR Code is a unique code comprising of 7 digits wherein the first four digits identify the bank and the last four digits correspond to the bank branch. The significance of BSR code is that is it used while filling TDS/TCS returns.
How to find the Axis Bank branch Code?
Axis Bank IFSC is composed in such a pattern whereby the ending six digits of the code correspond to a particular branch of the Axis Bank. Hence one can refer to the last six digits of the code to find the Axis bank branch.