Kalyan Janata Sahakari Bank IFSC or Indian Financial System Code is an 11-digit alphanumeric code that uniquely each bank and its respective branches, participating in the electronic or online fund transfer process via NEFT, RTGS or IMPS. The code is assigned to each bank branch by the Reserve Bank of India (RBI), hence no 2 bank branches have the same IFSC Code.
Structure of Kalyan Janata Sahakari Bank IFSC Code
The 11-digit IFSC Code is a combination of alphabets and numerals. The code is divided into 3 essential parts:
- The first 4 characters represent the bank code
- The 5th character is a ‘0’
- The last 6 characters represent the particular branch code
| Kalyan Janata Sahakari Bank Code | Zero | Kalyan Janata Sahakari Bank’s Branch Code | ||||||||
| K | J | S | B | 0 | 0 | 0 | 0 | 0 | 2 | 0 |
The above-given code (KJSB0000020) is an example of the IFSC Code of Mumbai, Maharashtra. Here, the first 4 characters ‘KJSB’ indicate the bank code, the 5th character is a ‘0’ and the last 6 characters ‘000020’ represent the branch code of Borivali, Mumbai.
Where to find Kalyan Janata Sahakari Bank IFSC Code?
The users can look for the IFSC Code by following any of the below-mentioned ways:
- The users can visit the IFSC Code search tool page provided by Paisabazaar. Enter the details like the bank name, state, city and branch name. The IFSC along with MICR Code and other details will be displayed on the right-hand side of the page.
- IFSC and MICR codes can be found on the top and bottom sides of the cheque leaf respectively. Both the codes can also be found on the first page of the passbook.
- The users can also find the IFSC and MICR code on the official website of the RBI (Reserve Bank of India).
- The user can also look for the IFSC and MICR code by logging into net banking or via the bank’s official mobile application. The codes can also be found on the bank’s official website.
Fund Transfer using Kalyan Janata Sahakari Bank IFSC Code
The use of IFSC Code is mandatory in facilitating online fund transfer using NEFT, RTGS or IMPS. The users can electronically transfer money from one bank account to another. All the 3 payment services have their own set of conditions, yet they offer flexibility and convenience to the customers.
National Electronic Funds Transfer (NEFT)
NEFT is a payment system facilitating one-to-one funds transfer. The funds transfer via NEFT processes in the form of deferred settlement. It is to be noted that both the originating as well as destination bank branches should be NEFT-enabled for the fund transfer process to take place.
| Features of NEFT | |
| Minimum Transfer Limit | Re. 1 |
| Maximum Transfer Limit | No limit |
| Settlement Type | 23 half-hourly batches |
| Service Timings | Available 24x7, 365 days (including bank holidays and Sundays) |
| Inward transaction charges | No charges |
Real Time Gross Settlement (RTGS)
RTGS is a payment service through which the funds transfer takes place instantaneously and in real-time and on a gross basis. The RTGS service is best suited for large value transactions from one bank account to another. Also, both the originating and destination banks should be RTGS-enabled for the fund transfer process to take place.
| Features of RTGS | |
| Minimum Transfer Limit | Rs.2 lakh |
| Maximum Transfer Limit | No limit |
| Settlement Type | Real-time and gross basis |
| Service Timings | 8 am to 6 pm - Monday to Saturday (except 2nd & 4th Saturdays) |
| Inward transaction charges | No charges |
Immediate Payment Service (IMPS)
IMPS is a payment system through which the funds are transferred from one bank to another instantly and securely. The service is available 24x7 and can be accessed throughout the year (including bank holidays). To initiate fund transfer, the user needs to provide the beneficiary’s account number and IFSC Code.
| Features of IMPS | |
| Minimum Transfer Limit | Re.1 |
| Maximum Transfer Limit | Rs.2 lakh |
| Settlement Type | Instant |
| Service Timings | Available 24x7 (365 days) |
| Inward transaction charges | Decided by individual banks |
About Kalyan Janata Sahakari Bank
Incorporated in the year 1973, Kalyan Janata Sahakari Bank has been serving people for more than 4 decades. With over 55000 shareholders and a client base of over 3 lakh, the bank has continuously improved quality and set standards in client-serving and customer service. The bank holds a branch network of 26 branches spread across the areas of Mumbai, Navi Mumbai, Pune, Thane, Kolhapur, Satara, and Nashik districts.