Find Bandhan Bank IFSC Code, MICR Code and branch details for NEFT, RTGS & IMPS transactions.
IFSC, MICR, and other banking codes have sure made online banking more streamlined and easier to follow. However, finding the accurate Bandhan Bank IFSC code isn't always the easiest task. IFSC, MICR, and other banking codes have sure made online banking more streamlined and easier to follow. However, finding the accurate Bandhan Bank IFSC code isn't always the easiest task.
In this article, you will read about the structure of different banking codes and how they work. We have also enlisted some sure-shot ways of finding the right and valid IFSC code and other banking details that you're looking for. Let's get started with bank IFSC codes.
Indian Financial System Code or the IFSC code is a distinct identification code that is mandatory to enter during any money transfers between two bank accounts. The Reserve Bank of India (RBI) assigns this unique identification code to every bank branch so that it can be identified distinctly. Bandhan Bank IFSC Code is an alphanumeric11-character code that users will have to input for any valid fund transfers. The format of the IFSC code comprises three parts.
The first part consists of four digits that specify the bank code. The fifth digit is set to 0. The last six digits specify the branch code. IFSC code is required when you need to transfer funds via NEFT, RTGS, or IMPS transactions.
For instance, Bandhan Bank Prabhadevi Branch IFSC Code is BDBL0001562 . In this example, the four beginning characters, 'BDBL,' specify the bank code. The fifth digit, '0', is a default number that RBI assigns for future engagement, and the last six digits, '001562', specify the branch code.
Magnetic Ink Character Recognition code, commonly known as MICR code, is present on the bottom of every cheque. Its presence is essential as the MICR code enables the faster processing of fund transfers through cheques. It validates the uniqueness of the cheque and its authenticity before transferring funds.
You may need to verify the MICR code for various kinds of financial transactions and banking documents verification where these codes are printed in magnetic ink. Bandhan Bank MICR code consists of 9 digits. The MICR code consists of three parts. The first part has three digits defining the city code. The city code is nothing but the postal address pin code. The next three digits define the bank code, and the last three digits indicate the branch code.
You can find the MICR code at the bottom of the cheque beside the cheque number. It is even present on the first page of the bank passbook. For instance, the Bandhan Bank MICR code for the Nagaur branch in Kuchaman city is '341750002'.
The first three digits, '341', are the city code. The next three digits,'750', are the bank code. The last three digits, '002', are the branch code.
SWIFT code is a unique identification code that helps in identifying banks across countries and the branch of a registered account. If you want to transfer funds or make an international payment, it is essential to provide the SWIFT code of a particular bank. If you are transferring money to a bank account overseas, then the presence of a SWIFT code assures that the money reaches the right place. The SWIFT code spans between 8 to 11 characters.
The format of the SWIFT code consists of three parts. The first part has four characters defining the bank code. The next two characters define the country code, and the final two characters define the location code. If the SWIFT code is 11 characters long, then the remaining three digits define the branch code. For instance, the Bandhan Bank SWIFT Code for Kolkata is 'BNDNINCCXXX.' The first four characters, 'BNDN,' is the Bandhan bank code.
The next two characters, 'IN,' is the country code. The following two characters, 'CC,' indicate the location code, and the optional code is 'XXX,' in this case.
Now that you understand the composition and functioning of different banking codes let's have a look at how you can find the valid Bandhan Bank IFSC Code or other banking codes easily. Some great methods to find your desired codes easily are listed below:
A common issue, along with not finding the right branch IFSC code easily, is finding one that is outdated. Advanced search tools like Find Your Bank can help you find your banking code easily. All latest codes and banking details are updated here, so you don't have to fret about which one is your updated branch IFSC, MICR, or SWIFT code.
Just run through a quick search on Find Your Bank with these steps:
Thus, your desired Bandhan Bank IFSC code, along with other details, can be accessed. You can also download Find Your Bank's handy mobile app for regular quick searches for details regarding different bank branches.
For quick reference, your Bandhan Bank IFSC code is also reflected on your bank passbook alongside the account holder's information and at the top of the chequebook. The MICR code can also be found easily at the bottom of the chequebook.
Your Bandhan bank net banking portal could also be used to confirm your banking codes. Simply visit https://bandhanbankonline.com/netbanking/# to check your desired code. If you still have any reservations about the valid code, RBI's official website can be a great place to check codes for different bank branches.
Your bank SWIFT code might not be that easily spotted everywhere. You can log into your bank account and view previous statements to check the right SWIFT code or simply call Bandhan Bank's customer care number at 1800 258 8181 to inquire about your branch SWIFT code.
The primary modes used for money transfer are NEFT, RTGS, and IMPS transactions. To get a better understanding of these three modes of transfers, you can refer to the details below:
National Electronic Funds Transfer (NEFT) is an online fund transfer system that can be used to transfer funds within bank accounts or for a third-party bank account. NEFT can be used to make reliable and easy payments online. Using NEFT, you can receive funds either on the same day or the next day during bank working hours. The bank releases payments are done via NEFT in hourly batches. All the branches of Bandhan Bank offer the NEFT facility.
Bandhan Bank users can either transfer funds through NEFT via Bandhan mobile banking application, internet banking, or by visiting the nearest Bandhan Bank branch. The maximum or minimum amount limit for fund transactions through NEFT is not set by Bandhan Bank. Commonly, NEFT fund transfers levy the same charge from Re.1 for up to Rs. 10,000.
Bandhan Bank IFSC code enables customers to receive funds from third-party bank accounts. You have to stick to bank operation timings if you visit the nearest bank branch to make an NEFT transaction. The permissible hours for NEFT transactions range from Monday to Saturday from 9:00 A.M.to 6:00 P.M., except on second and fourth Saturdays.
For making NEFT fund transfers, Bandhan Bank charges some fees for outward payments. No charges are applicable for inward payments. The table shows the fees applicable depending on the transfer amount for outward NEFT fund transfers:
|Transfer Amount||NEFT per transaction charges|
|Up to Rs. 10,000||Rs. 2|
|Rs. 10001 - Rs. 1 Lakh||Rs. 4|
|Rs. 100001 - Rs. 2 Lakh||Rs. 14|
|Over Rs. 2 Lakh||Rs. 14|
For transferring funds through NEFT, the following details are required:
Real-Time Gross Settlement (RTGS) is another preferred online fund transfer system that users can use for making payments of greater amounts from one bank to another. RTGS is much faster than NEFT and is often considered for high-value transfers.
RTGS transfers the funds on a first-come-first-serve basis, order by order consecutively. RBI assures that users will receive fund transfers made through RTGS within 30 minutes. Bandhan Bank enables the RTGS facility so that customers can transfer high-value funds to another bank account using mobile banking applications, internet banking, or by visiting the nearest bank branch. The user can quickly and securely transfer funds to another account via RTGS.
You can even receive payments from another bank account by providing the sender your Bandhan Bank IFSC code. The minimum transfer amount that Bandhan Bank has set for RTGS fund transfers is Rs. 2,00,000. There is no maximum amount limit.
Bandhan Bank has also set timings for users to make an RTGS fund transfer by visiting the branch. The timings are 9:00 A.M.to 6:00 P.M. from Monday to Saturday except for second and fourth Saturdays.
For RTGS payments, some charges are applicable as per the regulations of Bandhan Bank. Charges apply only on outward transactions. The table shows the charges applicable for distinct amount transfers:
|Transfer Amount||RTGS per transaction charges|
|Rs. 2 Lakh to Rs. 5 Lakh||Rs. 14|
|Over Rs. 5 Lakh||Rs. 39|
For RTGS transactions, the following details are mandatory:
Immediate Payment Service (IMPS) is the fastest mode of fund transfer from one bank account to another. IMPS services are available 24 by 7, even on national or public holidays. So, this is a method you can surely rely on if all else fails. Although if the Beneficiary's account is with a different bank, IMPS fund transfers don't require much time to credit the payment.
Bandhan Bank enables users to transfer funds via IMPS through a mobile banking application with the help of an MMID number and phone number. The user can even transfer funds through a bank account using the valid IFSC code. If you are transferring funds using the MMID and mobile number, then the maximum transaction amount limit is Rs. 50,000, and the minimum transaction amount limit is set to Rs. 10,000.
If you transfer funds using a bank account and IFSC code, then the maximum transaction amount limit is Rs. 5,00,000, and the minimum transaction amount limit is set to Rs. 2,00,000.
There are some charges applicable for IMPS fund transfers as per Bandhan Bank's protocol. The table shows the charges applicable on a certain amount when transferred through IMPS:
|Transfer Amount||IMPS per transaction charges|
|Under Rs. 1 Lakh||Rs. 5|
|Rs.100001 - Rs. 200000||Rs. 15|
The following details are mandatory for IMPS fund transfers:
Bandhan Bank is a subset of Bandhan Financial Holdings Limited and is owned by India's fastest-growing microfinance organization Bandhan Finance Services Limited(BFSL). Bandhan Bank was established in 2015 with the central goal of providing great banking and financial services.
In 2015, RBI granted Universal Banking License to Bandhan Bank. Its main branch and headquarters are located in Kolkata, West Bengal. In July, Bandhan Bank was all set to acquire a housing finance subsidiary of HDFC titled GRUH Finance. Bandhan Bank's core branches are present across India. With 5,371 banking outlets pan-India and over 2.30 crore customers, it has 501 branches, 50 ATMs, and 2,022 DSC.
Bandhan Bank's mission is to offer banking services, investment solutions, and prompt loan services to unbanked as well as underbanked people. It offers doorstep solutions so that more people can reap the benefits of the banking sector. Bandhan Bank was awarded the 'Best Bank of the Year' award at the Wealth Creator Awards powered by Moneycontrol in 2018.
The rate of interest for the amount deposited in the Bandhan Bank's savings account is charted below, w.e.f 7th June 2021:
|Bandhan Bank Savings Balance||Rate Of Interest (%p.a)|
|Under Rs 1 Lakh||3|
|From Rs 1 Lakh - Rs 2 Lakh||4|
|From Rs. 10 Lakh - Rs. 10 Cr||6|
Bandhan Bank provides a decent FD rate of interest which is applicable on general account's FDs and senior citizen's account's FDs. The rate of interest for general citizens and senior citizens FDs along with the tenure period is charted below, w.e.f 3rd February 2021:
|Tenure Period(Days)||Interest Rates for General Citizens (%)||Interest Rates for Senior Citizens (%)|
|7 days to 14 days||3.00||3.75|
|15 days to 30 days||3.00||3.75|
|31 days to 59 days||3.50||4.25|
|60 days to 179 days||3.50||4.25|
|180 days to 364 days||5.25||6.00|
|365 days to 539 days||5.75||6.50|
|541 days to 729 days||5.75||6.50|
|730 days to less than three years||5.75||6.50|
|3 years 1 day to less than 5 years||5.50||6.25|
|5 years 1 day to 10 years||5.50||6.25|
Documents required to open a Bandhan Bank Savings Bank Account:
Note: To open a Bandhan Bank Savings Bank account, one must be a citizen of India and should be above 18 years of age.
1. How to get the Bandhan Bank BSR code?
You can find your Bandhan Bank BSR or Basic Statistical Return code on the official RBI website or other documents of your bank account. This is the code assigned by RBI for tax collecting and return purposes.
2. Who can use the Bandhan app?
Existing Bandhan Bank account holders can use the Bandhan app. You can only use the app if your account is registered for net banking or a debit card, and you have also registered on the official app.
3. What is the Bandhan Bank CIF number?
The Bandhan Bank CIF number or Customer Information File number is used to record different attributes of bank customers. It is an 11-digit number and can be used to obtain customer details and relevant information.