Bandhan Bank IFSC Code
List of Bandhan Bank IFSC Code, MICR Code and Addresses of all Branches in India
Find Bandhan Bank IFSC Code for Banks in India
IFSC Code of Bandhan Bank
Bandhan Bank is a fast-growing customer-centric bank offering financial services in India. Its headquarter is located in Kolkata, West Bengal. The Bank has a network of 986 branches with about 481 ATMs spread across various parts of the country.
IFSC is short for Indian Financial System Code, which is a unique code consisting of alphabets and numbers. The code is used to identify the beneficiary branch at the time of online fund transfer from one bank account to another. IFSC makes it possible for banks to transfer money via National Electronic Fund Transfer or NEFT mode, Real-Time Gross Settlement or RTGS mode and Immediate Payment Service or IMPS mode of payment.
All banks in India have been assigned an IFSC Code by the Reserve Bank of India (RBI). The Bandhan Bank IFSC Code begins with the letters BDBL, which indicates its bank code. The bank code remains the same for all the branches of the Bank and is followed by the number zero (0). The last six digits of the Bandhan Bank IFSC Code stands for the branch code. The branch code is different for every branch of Bandhan Bank.
About Bandhan Bank
Bandhan Bank is a popular bank that has been providing banking and financial services in India since 2015. The bank is a subset of Bandhan Financial Holdings Limited, which is owned by India’s biggest microfinance organization Bandhan Financial Services Limited (BFSL). In 2015, the bank was granted universal banking license by the RBI. Its corporate office is located in Kolkata, West Bengal. As of July 2019, Bandhan Bank is all set to acquire Gruh Finance, a housing finance subsidiary of HDFC Limited.
Bandhan Bank focuses primarily on providing services to unbanked and underbanked people in India. It offers Doorstep Service Centres (DSC) with an aim to bring more people within India’s formal banking sector. In November 2018, Bandhan Bank was awarded as the ‘Best Bank of the Year 2018’ at the Wealth Creator Awards 2018 by Moneycontrol.
How to Search Bandhan Bank IFSC Code and MICR Code Online?
Finding information on Bandhan Bank IFSC Code and MICR Code is extremely easy online. The MICR Code is short for Magnetic Ink Character Recognition Code, which is used to identify the participating bank branch during the Electronic Clearing System (ECS). Bandhan Bank IFSC Code and MICR Code can be found at the official website of the branch. It is also available on the official website of the RBI where you can search for Bandhan Bank IFSC Code by entering the bank’s full name and branch.
How to Search Bandhan Bank IFSC Code and MICR Code Offline?
Each Bandhan Bank customer can find the IFSC Code and MICR Code of its branch printed on the passbook and cheque book provided by the bank. While the Bandhan Bank IFSC Code is printed on the top of every cheque leaf, the MICR Code is printed at the bottom of every cheque.
Information Required to Transfer Funds Through Any Mode of Payment
If you want to transfer funds from your Bandhan Bank account to another account via NEFT, RTGS or IMPS facilities, you will need the following information:
- Name of the Beneficiary
- Amount to be transferred
- Account Number of the Beneficiary
- Name of Beneficiary’s Bank
- IFSC Code of the Beneficiary’s Bank Branch
How to Transfer Money Through IndusInd Bank NEFT and RTGS Processes?
National Electronic Funds Transfer (NEFT)
NEFT is an online system to transfer funds from one bank account to another within the same bank or to another bank in India. It was introduced by the Reserve Bank of India (RBI) in order to facilitate the transfer of funds online. A bank has to be NEFT-enabled in order to send or receive funds via NEFT. Moreover, NEFT transferred funds are credited to the beneficiary’s account on the same day or maximum by next working day since funds are settled by the bank in hourly batches.
NEFT facilities are available at all core banking branches of Bandhan Bank. People with accounts in Bandhan Bank can access NEFT facility through their mBandhan mobile banking app, internet banking or by visiting their bank branch. With the help of Bandhan Bank IFSC Code, an account holder of this bank can also receive funds in their accounts from another account.
NEFT facility by Bandhan Bank does not have a minimum or maximum transaction amount. However, NEFT is best suited for conducting transactions amounting up to INR 1,00,000.
Real-Time Gross Settlement (RTGS)
RTGS is another online fund transfer system that allows the transfer of funds from one bank account to another. Funds transferred by RTGS are settled by the bank continuously on order by order basis and is thus, a faster mode of payment than NEFT. Reserve Bank of India regulates all transactions via RTGS and ensures that the beneficiary bank credits the transferred amount to the beneficiary’s account within 30 minutes of receiving the transfer message.
Bandhan Bank provides RTGS facilities at all its core banking branches across the country. Customers can use RTGS to transfer funds securely with the help of internet banking, mBandhan app or by visiting a branch of Bandhan Bank. Money can also be sent to an account holder with this Bank if the sender knows the Bandhan Bank IFSC Code for the recipient’s branch.
The minimum transaction amount for RTGS is INR 2,00,000. However, there isn’t a maximum transaction amount to send money via RTGS.
Immediate Payment Service (IMPS)
IMPS is the quickest mode of online fund transfer from one bank account to another. It transfers money to the beneficiary’s account immediately even if the beneficiary has an account in a different bank. This service is available 24x7 and can be used on national holidays & public holidays.
Bandhan Bank customers can transfer funds via IMPS using their mBandhan mobile application. However, it is important to know the IFSC Code of the beneficiary’s bank branch to be able to send money. For instance, Bandhan Bank IFSC Code for the beneficiary’s branch is required in order to transfer funds to his account.
The maximum transaction amount for transfer of funds via IMPS is INR 2,00,000.
Bandhan Bank NEFT Fees and Charges
- Between 9:00 am to 6:00 pm
- From Mondays to Saturday (except second & fourth Saturday)
RTGS Requisition Timings
- Between 9.00 am to 6.00 pm
- From Mondays to Saturdays (except second & fourth Saturday)
RTGS Timings for Processing at RBI
- From 8.00 am to 6:00 pm
- From Mondays to Saturdays (except second and fourth Saturday)
Charges for NEFT/ RTGS/ IMPS (Excluding GST) are:
Bandhan Bank does not charge any fee for making an inward fund transfer. This means if you send money from your Bandhan Bank account to another Bandhan Bank account via NEFT, RTGS or IMPS, you will not have to pay any charges. However, if you initiate an outward NEFT, RTGS or IMPS transaction, you will have to pay the following charges:
|Service||Transaction Limit (INR)||Charges (INR)|
|NEFT (outward)||Upto 10,000||2|
|10,001 to 1,00,000||4|
|1,00,001 to 2,00,000||14|
|More than 2,00,000||14|
|RTGS (outward)||2,00,000 to 5,00,000||14|
|More than 5,00,000||39|
|1,00,001 to 2,00,000||15|
Bandhan Bank - FAQs
Q.1 Who all can use mBandhan app?
Any existing savings account holder of Bandhan Bank who has been registered for Internet banking or has a Debit Card with his mobile number registered with the Bank can use mBandhan mobile application.
Q.2 Will I get compensated in case of a delay in returning the payment?
If there is a delay in returning the amount of a failed RTGS payment by the bank, the sender will get a compensation of 2% in addition to the current repo rate.
Q.3 Can I transfer money between different Bandhan Bank accounts owned by me?
Yes. You can transfer funds between your own accounts using the mBandhan mobile banking application.