Bandhan Bank IFSC Code (Indian Financial System Code) is a unique 11 digit alpha-numeric code that is used to identify the beneficiary branch at the time of money transfer from one bank to any Bandhan Bank account. The code is assigned by the RBI (Reserve Bank of India) which helps customers to facilitate the online money transfer using NEFT, RTGS or IMPS.
Bandhan Bank IFSC Code Format & Importance
IFSC is unique for every bank branch. The first 4 alphabets indicate the bank’s name and hence the IFSC code of each branch of a particular bank will begin with the same 4 characters. The fifth character is always ‘0’ and the last six characters define the specific branch code. The below table consists of an example of the IFSC code of Bandhan Bank's Karnal branch.
Bandhan Bank IFSC Code Format
|Bandhan Bank Code||Zero||Bandhan Bank Branch Code|
*Here ‘BDBL’ is the Bandhan Bank code, the fifth character is ‘0’ and the last six characters (001355) depict the branch code of Karnal branch of Bandhan Bank in Haryana.
- It helps in the identification of a particular bank branch
- Electronic fund transfer has become easier
- Minimal chances of discrepancy in the online money transfer process
How to search for IFSC Code of Bandhan Bank?
Below mentioned are several ways in which the customer can look for the IFSC code of a particular Bandhan bank branch.
1. IFSC search tool by Paisabazaar: Bandhan Bank account holders can search for the IFSC Code as well as MICR (Magnetic Ink Character Recognition) code by using the IFSC search tool at the top of this page. The steps for the same are:
- Bank Bank is default bank selected here, tit can be changed for any other bank if required
- Select the state, city & branch of the bank
- The required IFSC Code & MICR code will appear on the right-hand side of the page
2. Offline Search: The customer can find the IFSC & MICR code printed on the cheque book and the passbook provided by the Bandhan bank. The IFSC code is printed at the top whereas one can find the MICR code at the bottom side of every cheque. The below-given image will adhere to a better understanding -
3. Online Search: The users can look for these codes on either the official bank website or the bank’s mobile application or on the official website of the RBI. The user needs to mention the bank name and the branch. The following image depicts how one can search for the IFSC Code for any Bandhan Bank's branch from the RBI’s official website.
Fund transfer using Bandhan Bank IFSC Code
The online banking transactions for money transfer using NEFT, RTGS and IMPS cannot be initiated without the use of a valid IFSC code. The information required to avail these facilities include:
1. Name of Beneficiary and his/her bank
2. Amount to be transferred
3. Account number of the Beneficiary
4. IFSC code of Beneficiary’s account number
National Electronic Fund Transfer (NEFT)
NEFT is used for transferring funds from one bank to another. The process is based on a deferred arrangement that allows the transfer of money in different sets or batches. For any NEFT transaction, the respective banks should be NEFT-enabled. The Bandhan Bank account holders can access this service via internet banking, mBandhan mobile banking app or by visiting the bank branch.
*The funds are either added to the beneficiary’s account on the same day of transfer or maximum by the next working day.
Real-Time Gross Settlement (RTGS)
RTGS is another online money transfer service that enables the transfer of funds from one bank to another on a real-time or orderly basis i.e the beneficiary receives the amount in approximately 30 minutes of transfer. This is a rather faster payment mode than NEFT while the procedure is the same for both.
*RTGS service is generally used for high-value fund transfers.
Immediate Payment Service (IMPS)
IMPS is a real-time fund transfer which enables an instant 24X7, interbank electronic money transfer service. IMPS allows the transfer of funds instantly and hence considered a safe and economical option. The service is accessible via mobile, ATM, SMS, branch or USSD. It is the fastest mode of money transfer and can be availed on national as well as public holidays.
*If the individual opts for IMPS using mobile banking, he/she would need the MMID (Mobile Money Identifier) code for IMPS.
Features of NEFT, RTGS, and IMPS
|Service||Minimum transfer value||Maximum transfer value||Transaction Charges||Timings|
|NEFT||Re.1||No limit||Zero charges||Between 8 am to 7 pm |
Monday to Saturday (except second and fourth)
|RTGS||Rs.2 lakh||No limit||Zero Charges||Between 9 am to 6 pm |
Monday to Saturday (except second and fourth)
|IMPS||Re.1||Rs. 2 lakh||Decided by bank||24X7 (365 days)|
*The maximum transfer value limits mentioned above are as per the RBI guidelines.
About Bandhan Bank
Bandhan Bank Ltd. is an Indian banking and financial services bank with approximately 1000 branches and 481 ATMs. With its headquarters in Kolkata, West Bengal, the bank has marked its territory in 34 out of 36 states and Union Territories of India. Incorporated on 23rd December 2014, the bank also provides Doorstep Service Centres (DSC) with the motive to encourage more and more people within the banking sector.
Bandhan Bank- FAQs
Ques. Is IFSC code the same for all customers?
Ans. Yes the IFSC code is the same for all customers in a particular branch.
Ques. What is the branch code in Bandhan Bank IFSC Code?
Ans. In the 11-character alphanumeric IFSC code, the last six characters denote the branch code. For example in BDBL0001640, the last 6 digits (001640) represent the branch code of Park Street, Kolkata, West Bengal.
Ques. How can one contact Bandhan Bank?
Ans. Bandhan Bank’s customer service number is 1800 258 8181 or one can send a query via email: firstname.lastname@example.org
Ques. How can one find his/her MICR Code?
Ans. MICR (Magnetic Ink Character Recognition) code can be found on the bottom line of the cheque book.