Federal Bank IFSC Code is an 11-digit alphanumeric code that uniquely identifies a bank branch. The IFSC is mainly used to transfer funds online for NEFT, IMPS, or RTGS transactions.
It helps the Reserve Bank of India (RBI) to monitor all transactions with ease so in any case where any transaction needs to be tracked, it can be done via the help of Federal Bank IFSC code.
Federal Bank IFSC Code Format
When we look at Federal Bank IFSC code, the first 4 characters represent the bank code. The fifth character is 0 (zero), whereas the last 6 characters of the code represent the respective branch.
Let’s now take an example of a specific Federal Bank IFSC Code to easily understand the format of the Federal Bank IFSC code. The IFSC code of Federal Bank (Kochi branch) is FDRL0001033.
|Bank code||Zero||Branch code|
In Federal Bank IFSC Code, FDRL represents the bank name which is Federal Bank. The 5th character is 0 and the last 6 characters (001033) represents the branch code (Kochi).
How does the IFSC Code of Federal Bank works?
IFSC code is required for any kind of electronic fund transfer so when a fund transfer is initiated to a particular payee, the IFSC code ensures the fund transfer is carried out in the right bank avoiding any errors that could happen otherwise.
Once the remitter enters all the details and IFSC code, money is sent directly to the correct bank account with the help of the IFSC code.
How to search for Federal Bank IFSC Code & MICR Code?
There are several ways to look for Federal Bank IFSC Code & MICR Code:
Paisabazaar IFSC Code locator
- Visit Paisabazaar IFSC Code locator tool
- Provide details like Bank name, State and City
- Select the Branch to get the IFSC code
IFSC and MICR codes for any Federal Bank branch can be found on the bank cheque. Check the image below for reference -
- IFSC code is placed at the top of the cheque
- Cheque number and MICR code are placed at the bottom of the cheque
MICR (Magnetic Ink Character Recognition) Code written in a thin strip at the bottom of the cheque, right next to the cheque number helps the RBI to identify the bank branch and process the transactions faster.
IFSC Code of Federal Bank is also mentioned on the front page of the passbook.
Reserve Bank of India
The Reserve Bank of India or RBI’s official website also mentions a list of banks with their respective IFSC codes participating in NEFT / RTGS transactions.
Federal Bank Net banking / Mobile Banking
IFSC Code of Federal Bank can also be found on various digital banking platform like mobile banking app and net banking account. Customer just need to log in using the credentials.
What are the different modes of fund transfer using Federal Bank IFSC Code?
With the advancement in digitization, everything now has become dependant on the online world. Hence, account holders can make fund transfer online easily using IFSC Code. The 3 widely used fund transfer modes are NEFT, RTGS and IMPS.
|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.||NEFT is based on Deferred Net Settlement (DNS) and facilitates the transfer of funds from any bank branch to any other bank branch.||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.|
|The minimum transfer amount in RTGS Rs. 2 lakh.||The minimum transfer amount in NEFT is Re. 1.||The minimum transfer amount in IMPS is Re. 1.|
|Maximum Transfer Limit - No limit||Maximum Transfer Limit - No limit||Maximum Transfer Limit - Rs. 2 lakh|
About Federal Bank
Federal Bank is India’s major commercial bank in the private sector. Headquartered in Aluva, Kerala the bank has over 1,251 branches and 1610 ATMs across the country. The bank offers a variety of services such as internet banking, mobile banking app, on-line bill payment, loans, deposit accounts, investment schemes and much more.