Navi Mumbai Co Operative Bank IFSC Code and MICR Code

Navi Mumbai Co Operative Bank IFSC Code, MICR Code and SWIFT Code

Navi Mumbai Cooperative bank was established on 30th August 1917, and since then, it has been providing its customers with excellent banking services. The Navi Mumbai Cooperative Bank IFSC code has a tremendous role to play in the excellence of its service. 

The Navi Mumbai Cooperative Bank has become one of India's fastest-growing cooperative banks by providing excellent banking services to its customers. Navi Mumbai Cooperative Bank offers its customers services like personal banking, current banking, home loan, vehicle loan, and many more. 

With the advent of advanced digital banking services, IFSC code, MICR code, and Swift code plays a significant role. You can use digital fund transfers, cheque transfers, and international wire transfers using these three codes. 

All three codes have designated functions, and we will talk in detail about the Navi Mumbai Cooperative Bank IFSC code and MICR code in detail in this article. Hence, to get complete information, continue reading this article. 

Navi Mumbai Cooperative Bank IFSC Code

The Indian Financial System Code (IFSC) is a unique eleven-digit alphanumeric code that is different for every bank. The Reserve Bank of India has allotted separate codes to each bank branch to help with the identification of bank branches. 

The eleven-digit code has three parts, and each part has a different role to play. The first four characters of the code symbolize the bank name, the mid character is zero and the final six characters stand for the branch location or name. 

Such a well-defined role has made identifying branches faster so that money transfer takes very less time. Here is an example of the Navi Mumbai Cooperative Bank IFSC code. 

The Navi Mumbai Cooperative Bank Vashi branch IFSC code is IBKL0123NMC. In the first four letters, IBKL represents the bank's name, Navi Mumbai Cooperative Bank. The mid character is zero, which is reserved for future use. 

The last six characters represent the branch Vashi. You can use the IFSC code during NEFT, RTGS, and IMPS fund transfers. As soon as you enter the code, the system will immediately identify the location and make sure your money gets deposited into the right account. 

If you want to take advantage of digital banking services, knowing the IFSC code is vital. Without entering it, you won't be able to make any successful fund transfers. If you're wondering where you can find the IFSC codes and how to apply them while using online fund transfer, we will tell you about that in the following paragraphs, so continue reading. 

Navi Mumbai Cooperative Bank MICR Code

Apart from using online fund transfers sometimes, you may have to use cheque transfers as well. This is where the MICR code comes into the scene. MICR or Magnetic Ink Character Recognition is again a unique nine-character code with numerics only. 

The MICR code has a similar function to the IFSC code, which is the identification of bank branches. As opposed to the online fund transfer, the MICR code is used for offline transfers, mainly cheque clearance. 

Again the MICR code for each bank branch is different, and we can also divide it into three parts. The first three numbers of the MICR code are for the pin code or city name. The following three numbers are for the bank name, and the last three numbers are for the location or branch code. 

The MICR code of Navi Mumbai Cooperative Bank Navi Mumbai branch is 40082547. The first three numbers, 400, represent the pin code of Navi Mumbai, the following part, 825, represents the bank, and the last part, 547, represents the location. 

All bank branches participating in the Electronic Clearing System (ECS) have their individual MICR codes. 

How to Find the IFSC And MICR Codes of Navi Mumbai Cooperative Bank? 

Now that you know the usage of IFSC and MICR codes, you might be wondering where you can get these codes from. Well, it isn't a big task. There are multiple sources to get the IFSC and MICR codes, and one of the easiest and most convenient sources is the Find Your Bank website. 

Find Your Bank has its own website and mobile app where you will find the IFSC and MICR codes of all Navi Mumbai Cooperative Bank branches. To source the Navi Mumbai Cooperative Bank IFSC code from the Find Your Bank site, do the following -

• Visit the https://findyourbank.in/ website
• Next, select the Bank name, 
• State name, 
• District name, 
• Branch name
• After entering these details, you will see the IFSC code and MICR code on the screen. 

If you download the mobile app, finding the codes will even be easier. You no longer have to visit the website again and again. Simply open the app each time you need the IFSC codes, enter the required details, and you can access the IFSC code within seconds. 

There are some other means as well from which you can get the IFSC and MICR codes of the Navi Mumbai Cooperative bank. Here are all the sources- 

Bank Passbook and Cheque Book

Another easiest and quickest way to find the IFSC and MICR code of Navi Mumbai Cooperative bank is by looking at it in the bank's passbook and cheque book. All banks' passbooks and cheques have the IFSC codes printed, so finding them there won't be difficult at all. 

The Reserve Bank of India Website 

Since the RBI has initiated the system of the Indian Financial System Code, they have a record of all the bank branches' IFSC codes. Go to the RBI website and check the code status there. 

Navi Mumbai Cooperative Bank Net Banking Platforms

Bank's net banking platforms like their website and mobile banking apps are another reliable source to find these codes. The banks will always keep records of all their branches IFSC and MICR codes. 

Ring Up Bank's Customer Care 

If you are unable to source the codes from any of the above sources, the last best resort would be to ring up the bank's customer care service. The customer care team is always ready to serve its customers with all possible help. 

How to Transfer Money through NEFT, RTGS, and IMPS?

The popularity of NEFT, RTGS, and IMPS has increased rapidly in the present time. The ease and convenience of these digital fund transfer modes have made making transactions easy. 

Now you no longer have to visit bank branches and stand in long queues to make money transfers anywhere around the country. All you need is the recipient's bank details, IFSC code, and a smart device. Let's have a closer look at all these systems and find out how these work. 

National Electronic Fund Transfer

National Electronic Fund Transfer or NEFT is one of the most popular digital fund transfer methods. It's a DNS-based system where money is sent in batches. You'll need the following recipient details to send money via NEFT- 

• Receiver's name
• Receiver's account number
• IFSC code
• Beneficiary bank name
• Branch name 
• The amount you are going to transfer 

NEFT Charges 

Amount	Charges
Up to Rs. 10,000	Rs. 2.50 per transaction
Rs. 10,000 to 1 lakh	Rs. 5 per transaction
Rs. 1 lakh to 2 lakh	Rs. 10 per transaction
Above Rs. 2 lakhs	Rs. 20 per transaction

 

Real Time Gross Settlement (RTGS) 

Real Time Gross Settlement is yet another popular online fund transfer mode. This one's for making high-value fund transfers, so the lowest amount for making an RTGS fund transfer is Rs. 2 lakhs. 

The details required for RTGS fund transfer are the same as NEFT, so you'll need- 

• Receiver's name
• Receiver's account number
• IFSC code
• Beneficiary bank name
• Branch name 
• The amount you are going to transfer 

RTGS Charges 

Amount	Charges
Rs. 2 lakhs to 5 lakhs	Rs. 25 per transaction
Above Rs. 5 lakhs	Rs. 50 per transaction

 

Immediate Payment System (IMPS) 

As the name says, you can use IMPS to make emergency fund transfers. The IMPS is available 24*7, and you can send money to both within Navi Mumbai Cooperative bank or to any third-party bank using the IMPS mode. 

The details required for making an IMPS fund transfer are- 

• Beneficiary's name 
• MMID code (for transfer from person-person)
• The IFSC code of the receiver's branch (for transfer from a person to an account)
• Receiver's mobile number
• Receiver's account number 

The Navi Mumbai Cooperative Bank IMPS limit is Rs. 2 lakhs per day, and it charges Rs. 5 per transaction. 

About Navi Mumbai Cooperative Bank

The Navi Mumbai Cooperative Bank is one of India's leading cooperative banks. It has its headquarters in Vashi, Navi Mumbai, and the bank commenced its operation on 30th August 1917. 

Currently, the bank is operating in Vashi, Juinagar, Ghansoli, APMC, Nerul, Airoli, and Govandi. The bank offers various kinds of banking services like a savings account, current account, personal banking, home loan, vehicle loan, education loan, plant and machinery loan, and more. 

Frequently Asked Questions

1) What is the work of a Cooperative Bank?

The main function of a cooperative bank is to provide financial aid to small business owners and personal borrowers. The prime goal of establishing cooperative banks was to relieve poor people from exploiting money lenders. 

2) What are the hours of operation of Navi Mumbai Cooperative Bank? 

The working hours of Navi Mumbai Cooperative Bank are- 

• Monday to Friday: 9.30 am to 4.30 pm 
• Saturday: 8.30 am to 12 pm. 
• 2nd and 4th Saturdays and Sundays: closed. 

3) Can NEFT be done to Navi Mumbai Cooperative Bank? 

Yes, you can do NEFT at the Navi Mumbai Cooperative bank. 

4) What is the Navi Mumbai Cooperative Bank Customer Care Number? 

The Navi Mumbai Cooperative bank customer care numbers are- 022-27832946, 022-27832945. You also can reach them via email at [email protected].