Corporation Bank IFSC Code is a set of eleven characters assigned by the Reserve Bank of India (RBI), which helps to uniquely identify the branch of every bank. Any kind of fund transfer through a bank requires a valid IFSC Code.
Corporation Bank IFSC Code Format
| Bank code | Zero | Branch Code | ||||||||
| C | O | R | P | 0 | 0 | 0 | 3 | 0 | 6 | 7 |
Corporation Bank IFSC Code is composed of 11 characters, the first four characters of IFSC Code represent the bank. The fifth character is “0” which is fixed across all the IFSC codes and the remaining six characters are the branch code.
For example,
- IFSC code of Corporation Bank branch at sector 38C Chandigarh is CORP0003067
- The first four (CORP) are alphabetic characters that represent the bank
- The fifth character is always “0”
- The last six digits (003067) represent the Corporation Bank Sector 38C, Chandigarh branch
Some more examples of Corporation Bank IFSC Codes are as under:
- IFSC code of Hojai Branch, Assam is CORP0003301
- IFSC Code of Gaya Branch, Bihar is CORP0001266
Why do we need the Corporation Bank IFSC Code?
Corporation Bank IFSC is used in the NEFT, RTGS, and IMPS process. It gives the exact location of the branch of the bank where the account of the payee is.
Electronic fund transfer via Corporation Bank IFSC is less time consuming and it is also environment-friendly as no paperwork is required and everything is done electronically.
As the electronic money transfer by IFSC is a quick process and is done in an efficient way, it also facilitates business processes, which contributes to the country’s growth also.
How to transfer money using the Corporation Bank IFSC Code?
NEFT (National Electronics Fund Transfer)
NEFT is based on Deferred Net Settlement (DNS) and facilitates the transfer of funds from any bank branch to any other bank branch. Fund transfers through the NEFT system do not occur on a real-time basis but the fund transfer settles in half-hourly batches.
| Features of NEFT |
| The minimum transfer amount in NEFT is Re. 1 |
| There is no maximum transfer limit |
| NEFT is available 24/7, 365 days but the transactions are processed in batches |
| No charges are levied on NEFT transactions |
RTGS (Real Time Gross Settlement)
RTGS is an online fund transfer mode that is meant for high-value funds transactions and the transfer for the same is done on a real-time basis. On a real-time basis, the transactions are processed continuously on a transaction by transaction basis throughout the RTGS business hours.
| Features of RTGS |
| The minimum transfer amount in RTGS Rs. 2 lakh |
| There is no maximum transfer limit |
| RTGS is available from 7:00 am to 6:00 pm on all working days, except Sunday and bank holidays |
| No charges are levied on RTGS transactions |
IMPS (Immediate Payment Services)
IMPS is an instant fund service and works all throughout the day. It can be used 24*7 to transfer funds to any other bank account. There are no holiday restrictions on IMPS inward and outward transactions.
| Features of IMPS |
| The minimum transfer amount in IMPS is Re. 1 |
| The minimum transfer amount in IMPS Rs. 2 lakh |
| IMPS is available 24/7, 365 days and the fund transfer occurs instantly |
| No charges are levied on IMPS transactions |
How to find the Corporation Bank IFSC Code & MICR Code?
- IFSC Search Tool: Bank account holders can search the IFSC Code for their Corporation Bank's branch using the online IFSC Search Tool available at PaisaBazaar by following the steps mentioned below:
- The IFSC search tool is available at the top of this page
- Corporation Bank is the default bank name selected here
- Enter the other details such as state and city names
- Select the Corporation Bank's branch to find its IFSC and MICR Codes
- The Reserve Bank of India Website: The Reserve Bank of India controls all banking transactions in India and thus it is a single entity, which has the authority to issue the Bank IFSC code to its associate’s banks. Hence one can visit the same to look for the Corporation Bank IFSC Code & MICR Code.
Where to find the Corporation Bank IFSC Code?
Corporation Bank's Cheque Book
- Corporation Bank IFSC code is mentioned at the top of the cheque
- Cheque number and Corporation Bank's MICR code is present at the bottom of the cheque
Corporation Bank's Passbook
The bank account holders can also find their branch's IFSC Code on their account passbook provided by the bank.
Corporation Bank Net Banking & Mobile Banking application
Account-holders can check these codes using the Corporation Bank's mobile banking application or net banking portal provided by the bank. Account-holders will be required to login to their Corporation Bank Mobile Banking application or net banking portal to avail the same
What is the Corporation Bank MICR Code?
MICR Code is part of character recognition technology that is used by the banking industry for clearing and processing cheques.
It is a 9-digit numeric code that helps in identifying the bank, the branch of the bank where the account is maintained, and other details needed to process cheque payments.
Some of the examples are -
MICR Code of Kurali Branch, Mohali is 160017020
MICR Code of Kollam Branch, Kerala is 691017002
Where to find Corporation Bank MICR Code?
One can find out the Corporation Bank MICR Code on the following platforms:
- Cheque Book: Cheque number and Corporation Bank's MICR code is present at the bottom of the cheque.
- Passbook: Account holders can also find their branch's MICR Code on their account passbook provided by the bank.
- Net Banking & Mobile Banking application: Account-holders can check these codes using the Corporation Bank's mobile banking application or net banking portal provided by the bank
What is the Corporation Bank Swift Code?
SWIFT code is used when the transfer between two banks happens internationally. It is an electronic message transfer system that conveys messages in a pre-defined format, anywhere in the world as and when the transaction occurs.
How to find the Corporation Bank Swift Code?
Customers can visit the nearest Corporation Bank branch or get in touch with the Corporation Bank customer care department for the same
Difference between Corporation Bank MICR Code, SWIFT Code, and IFSC code?
| IFSC Code | MICR Code | SWIFT Code |
| Stands for Indian Financial System Code | Stands for Magnetic Ink Character Recognition | Stands for Society for Worldwide Interbank Financial Telecommunication |
| Is a unique identification code required for electronic transfer of funds via NEFT, RTGS and IMPS system | MICR code uses the magnetic ink and makes processing of a large number of cheques easier | Swift code helps in easier identification of the financial institution thus making international transfer of money instant |
| Contains 11 alphanumeric characters | Contains 9-digits | Contains 8 to 11 characters |
FAQs on Corporation Bank IFSC Code
How to locate the nearest Corporation Bank branch from the IFSC Code?
If we look at the structure of IFSC Code of Corporation 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 stand for the bank’s code
- The fifth character is 0 which is same for all the banks
- The last 6 characters stand for the Corporation Bank branch code
Hence from the last 6 characters, one can locate the Corporation Bank Branch.
Does Corporation Bank Credit Card have IFSC Code?
IFSC is a unique 11-digit code allocated by the RBI to each bank branch in India which is contributing to online fund transfer systems like RTGS, NEFT, and IMPS. IFSC has nothing to do with the credit or debit card of any bank.
IFSC is a unique 11-digit code allocated by the RBI to each bank branch in India which is contributing to online fund transfer systems like RTGS, NEFT, and IMPS. IFSC has nothing to do with the credit or debit card of any bank.
However, in case a cardholder wants to make the credit card bill payment, he/she has to enter the Corporation Bank Credit Card IFSC Code to make the payment through NEFT/RTGS.
However, in case a cardholder wants to make the credit card bill payment, he/she has to enter the Corporation Bank Credit Card IFSC Code to make the payment through NEFT/RTGS.
What is the Corporation Bank CIF Number?
Customer Information File is a unique number related to a computerized file that holds all the personal as well as account-related information of the Corporation Bank account holder.
Corporation Bank CIF Number allows the bank to view the accounts of customer including key information such as account ownership and credit relationship
What is the Corporation Bank BSR Code?
BSR stands for Basic Statistical Returns. The BSR code consists of seven digits and is allotted to banks by the RBI.
While filing TDS/TCS returns, BSR code is used in detail related to challan and deductee.
How to find the Corporation Bank Branch Code?
IFSC Code of Canara Bank can be used to get the branch code of Corporation Bank
Let's consider an example: CORP0001887 is the IFSC Code of Kurali branch of Corporation Bank
| Bank Code | Zero | Branch Code | ||||||||
| C | O | R | P | 0 | 0 | 0 | 1 | 8 | 8 | 7 |
From the last six digits of the code one can find out the branch code of Corporation Bank