Deutsche Bank Indian Financial System Code (abbreviated as IFSC) is an 11 digit alphanumeric code that helps in identifying a specific branch of the Deutsche Bank and is significant in the online funds transfer via NEFT, RTGS or IMPS. Bank account holders can check the IFSC Code for their branch online and offline.
IFSC Code of Deutsche Bank: Format
Let’s take an example, DEUT0784OPT is IFSC code of Deutsche Bank's Mumbai Options Branch. In the 11 characters of this code, the first 4 characters ‘DEUT’ represent the bank code, the 5th character is a ‘0’ and the last 6 characters ‘784OPT’ determines the Mumbai Options branch of Deutsche Bank.
|Deutsche Bank Code||Zero||Deutsche Bank’s Branch Code|
How to find Deutsche Bank IFSC Code?
The IFSC Code is crucial in the online transaction process from one bank to another. It helps in identifying different banks and their branches helping the customers to avoid any mistakes during the process of a transaction. Hence, it plays a vital role in electronic or online funds transfer process via NEFT, RTGS or IMPS. There are different ways in which a user can identify the IFSC Code of his/her branch of Deutsche Bank.
1. IFSC Code search tool by Paisabazaar: The customers can visit the Paisabazaar IFSC Code Search Tool to find the IFSC Code and MICR (Magnetic Ink Character Recognition) code by following these steps:
- Find the tool at the top of this page, Deutsche Bank is selected by default
- Select the state, city and then the branch name in which the customer is holding an account
- All the details along with IFSC & MICR Code will be displayed on the right-hand side of the page
2. Cheque Book: Deutsche Bank IFSC Code is printed on the top left corner of the cheque, while the MICR Code is present at the bottom. Have a look at the picture displayed below:
*The IFSC and MICR Code can also be found on the passbooks issued by the respective bank as well.
3. Deutsche Bank Net banking / Mobile Banking: Account holders can search for these codes on the official Deutsche Bank net banking portal or mobile banking application by simply logging in using the customer ID and password.
4. The Reserve Bank of India (RBI): RBI also provides the list of IFSC Codes of all banks in India and their respective branches. The given picture shows the IFSC Code of Deutsche Bank Bangalore.
What is the significance of Deutsche Bank IFSC Code?
- It uniquely identifies the specific bank branch helping customers to avoid any mistakes during the online fund transfer process via NEFT, RTGS or IMPS
- One need not visit the branch for any financial transfer, hence can opt for online money transfer with the help of IFSC Code of Deutsche Bank. It is, therefore, a rather convenient and eco-friendly option.
- All the online transactions including paying bills can be processed with the help of the IFSC Code.
Online money transfer using IFSC
IFSC Codes are used to perform online fund transfers via NEFT, RTGS & IMPS. It is not possible to transfer money online without the IFSC Code. Following is the detailed explanation of the online funds transfer system:
NEFT: National Electronic Funds Transfer System
- NEFT can be credited in the beneficiary’s account if the payment instruction is given between 8 am to 6:30 pm from Monday to Saturday (the facility is not available on Sundays, 2nd & 4th Saturdays and bank holidays)
- There is no maximum or minimum transfer limit in the NEFT service (There is a limit of Rs.50,000/- if the NEFT service is generated via cash)
- Both the bank branches of the sender and the receiver should be NEFT enabled for the transfer process to take place
- The inward transactions at the destination bank branches are free of cost
RTGS: Real Time Gross Settlement
- RTGS credits usually gets reflected on the same date of transaction if the payment is not done on any bank holiday or on any 2nd or 4th Saturday
- The service is available from 8 am to 5:30 pm
- There is a minimum limit of Rs.2 lakh to avail the service
- The inward transactions are free of cost
- The bank branches of the beneficiary and remitter should be RTGS-enabled
IMPS: Immediate Payment Service
- Funds transfer via the IMPS service gets credited instantly in the beneficiary’s account
- The service can be availed 24X7, throughout the year
- There is a maximum limit of Rs.2 lakh but no minimum transfer limit
- The inward transaction chargers are decided by the individual member banks
About Deutsche Bank
With its headquarters in Frankfurt, Germany, Deutsche Bank is a German multinational bank with its branches in approximately 70 countries. It is one of the leading global investment banks spread in areas of Europe, America, and Asia. The bank provides a range of investment and financial products to individuals as well as corporate and institutional entities.