Kotak Mahindra Bank IFSC Code Search

IFSC code is structured in such a way that the initial 4 digits denote the bank the next digit remains zero and the last 6 digits denote the bank branch of Kotak Mahindra Bank. In the example stated below “KKBK” indicate Kotak Mahindra Bank, the fifth digit remains zero and the last six digits “00033” denote the Bank Branch.

Think of IFSC code as a postal address of a bank. To transfer funds from one bank to another, this postal address acts as an essential parameter. Hence, the usage of the right IFSC Code helps to transfer money in an error-free manner.

Moreover, IFSC code aids the RBI to monitor all the transactions taking place across the country.

One can transfer money using the Kotak Mahindra Bank IFSC by the following three ways -

NEFT (National Electronic Fund Transfer)

1. It is a country-wide fund transfer system introduced by the RBI wherein the funds are transferred in half-hourly batches
2. NEFT is functional 24*7 throughout the year
3. Funds are transferred only to the NEFT enabled banks on an individual basis

RTGS (Real-Time Gross Settlement)

1. RTGS is a fund transfer system whereby funds are transferred in real-time basis without any delays
2. RTGS is functional from 10 am to 6 pm according to the RBI
3. Funds are transferred only to the RTGS enabled banks on a gross basis

IMPS (Immediate Payment System)

1. It is a real-time interbank fund transfer system wherein funds are transferred 24*7 throughout the year
2. There is no minimum limit for IMPS transactions but the maximum limit varies from bank to bank

One can choose any of the following ways to find Kotak Mahindra Bank IFSC –

1. IFSC Tool Locator: One can visit the Paisabazaar IFSC Tool Locator and find the required IFSC and MICR Code by selecting the city, state and branch name from the drop-down.
2. RBI Website: One can visit the RBI website and get the required IFSC and MICR codes by selecting the bank name and the branch name from the drop-down.

Apart from the Paisabazaar IFSC Tool Locator and the RBI Website, one can choose any of the below-mentioned platforms to search for the required IFSC Code:

• Cheque Book: IFSC Code is usually printed on the bank’s chequebook. Hence one can refer to the chequebook for the same.
• Pass Book: Another way to find the IFSC is the Pass Book provided by the Kotak Mahindra Bank.
• Digital Banking Platforms: Digital banking platforms include the Netbanking and the Mobile banking facility of the bank. One can use these platforms to find out the IFSC.

MICR Code or Magnetic Ink Character Recognition Code is a unique 9-digit code usually printed at the bottom of a cheque. The code consists of 9 digits with every 3 digits signifying some essential.

Significance of MICR Code

MICR Code helps speed up the processing of cheques.

Examples of MICR Code

• Cheque Book: MICR Code is usually printed on the bank’s chequebook. Hence one can refer to the chequebook for the same.
• Pass Book: Another way to find the MICR Code is the Pass Book provided by the Kotak Mahindra Bank.
• Digital Banking Platforms: Digital banking platforms include the Netbanking and the Mobile banking facility of the bank. One can use these platforms to find out the MICR Code.

• SWIFT Code Stands Society for Worldwide Interbank Financial Telecommunication
• A SWIFT code is a unique code comprising of 8 to 11 digits used for fund transfer across the world
• This code is not used for fund transfer within the country, it is used for fund transfer on an international level
• One needs to contact the Kotak Mahindra Bank’s customer care department to get the required SWIFT Code