What is IFSC Code and How to find IFSC code of any bank?

What is IFSC Code?

IFSC (Indian Financial System Code) is an 11 digit alphanumeric code which is used to identify the bank branch of your account. The first 4 characters of the IFSC code represent the name of the bank, the fifth character is 0 and the last 6 numbers define the bank's branch code. This code is used at the time of online fund transfer facilities like NEFT (National Electronic Fund Transfer), RTGS (Real Time Gross Settlement) and IMPS (Immediate Payment System). IFSC code reduces the scope of error at the time of transaction.

Features of IFSC Code

IFSC code helps identify a bank’s branch. It is an important tool that makes various online banking operations easy and hassle-free. IFSC enables instant fund transfer, and error-free NEFT and RTGS transfer of money with quick validation and confirmation to the customers. Some features of IFSC are listed as follows:

• IFSC enables easy branch location and identification
• Eases digitalization of bank operations
• Quick transfer of funds
• Promotes safety and saves time
• Aids NEFT and RTGS

Format for Bank IFSC Code

In an IFSC code, the first four characters are alphabets that denote the bank name. Hence, the code of each branch of the same bank will begin with the same four letters. The fifth character is zero.

The remaining six characters are digits or numbers which denote the branch code. This is the part that makes an IFS code unique.

A	B	C	D	0	1	2	3	4	5	6
Bank Code				0	Branch Code

You can search for the IFSC Code of a bank in multiple ways:

• You can search for the IFSC code on the cheque and passbook provided by the bank
• By visiting the website of the respective bank
• Search for IFSC code at RBI’s website

How to find the IFSC code of any bank?

1. Go to https://www.rbi.org.in/Scripts/IFSCMICRDetails.aspx
2. Select the bank name
3. write the branch name and click on get details
4. You can see a few banks name, with IFSC codes
5. If you want more details, just click on your branch and get the details.
6. Below snippet for your reference

Source: myloancare, policybazaar