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Indusind Bank IFSC Code: Indusind Bank MICR Code & Address in India

IndusInd Bank is one of the leading private sector banks providing financial services in India. It has its headquarter in Mumbai, Maharashtra. The bank boasts of over 4000 branches with more than 2000 ATMs available across the country.

IFSC is an abbreviation for Indian Financial System Code. It is a unique eleven-digit code comprising of alphabets and numbers that helps to differentiate one bank branch from another during fund transfer. It allows a consumer to send money via National Electronic Fund Transfer or NEFT, Real-Time Gross Settlement or RTGS and Immediate Payment Service or IMPS.

The IFSC Code is allotted by the Reserve Bank of India (RBI) to every branch of each Bank. The IndusInd Bank IFSC Code starts with the letters INDB. These letters signify the bank code and are common to all the branches of the bank. The last six digits of the IndusInd Bank ISFC Code denote the branch code. These last digits consisting of numbers makes the IndusInd Bank ISFC Code unique for each branch.

About IndusInd Bank

IndusInd is a private bank that has been offering various banking products and services in India since 1994. Its corporate office is in Mumbai, Maharashtra. The Bank also has representative offices in Dubai, Abu Dhabi and London. With IndusInd Bank’s recent merger with Bharat Financial Inclusion Ltd. (BFIL), it has now forayed into the rural banking market.

Over the years, IndusInd Bank has been lauded with several awards for its innovative products/ services and  CSR activities. Recently, it was adjudged for being the ‘Most Innovative Money Transfer Product/ Service’ by the Times Now Digital Awards 2019.

How to Search IndusInd Bank IFSC Code and MICR Code Online?

The information on the IndusInd Bank IFSC Code and MICR or Magnetic Ink Character Recognition Code can be found easily online. The MICR Code is a nine-digit unique code that helps to identify the participating bank branch during the Electronic Clearing System (ECS). You can visit the official website of the bank to find the IndusInd Bank IFSC Code and MICR Code for a branch. It is also available on the official website of the RBI. It should always be searched by entering the full name of the bank and the branch.

How to Search IndusInd Bank IFSC Code and MICR Code Offline?

People with an account in IndusInd Bank can locate the MICR Code and the IndusInd Bank IFSC Code of their branch mentioned on the cheque book and passbook provided by the bank.

IndusInd Bank IFSC Code

Information Required to Transfer Funds through Any Mode of Payment

In order to transfer funds from your IndusInd Bank account through any mode of payment, you need to have the following information handy:

  • Name of the Beneficiary
  • Account Number of the Beneficiary
  • Name of Beneficiary’s Bank
  • IFSC Code of the Beneficiary’s Bank
  • Amount to be transferred

How to Transfer Money through IndusInd Bank NEFT and RTGS Processes?

National Electronic Funds Transfer (NEFT) 

NEFT is an online fund transfer system that enables sending money from one bank account to another. It was introduced by the Reserve Bank of India to ensure quick and hassle-free transfer of funds between NEFT enabled branches of the same or different banks. The payee can use NEFT service through internet banking, mobile banking or visiting the bank branch. NEFT is settled by the banks in hourly batches and thus, is settled within a few hours or in a day.

NEFT service is available at IndusInd Bank core banking branches across the country. In order to send money to an Indusland bank account, you need to furnish the details of the beneficiary along with the Indusland Bank IFSC Code of the beneficiary’s branch.

There is no set limit for a minimum or maximum amount that can be sent via NEFT. However, this service is ideal for transferring funds amounting to less than INR 1 lakh.

Real-Time Gross Settlement (RTGS) 

RTGS is a real-time fund transfer system regulated by the Reserve Bank of India. It allows an account holder to send money to another bank account within the same bank or in a different bank. The funds are settled continuously on order per order basis making it a quicker mode of fund transfer than NEFT. It is mandatory for the beneficiary bank to credit the amount in the receiver’s account within 30 minutes. RTGS fund transfer can be done through net banking, mobile banking or by visiting the bank branch.

All core banking branches of the IndusInd Bank provide RTGS facility. All you need is the IndusInd Bank IFSC Code to be able to transfer funds to an account holder of the Bank via RTGS.

A minimum transaction of INR 2 lakh is required to make an RTGS transfer. However, there is no upper limit for amount transfer under the RTGS scheme.

Immediate Payment Service (IMPS)

IMPS is an instant fund transfer scheme that transfers money from one bank account to another through mobile phones. This banking service is available 24x7 and can also be used on bank holidays as well as public holidays. IMPS transfer can be made for a maximum transaction of INR 2 lakh.

IMPS services are available to the customers of IndusInd Bank using mobile banking services. IndusInd Bank users can use IMPS service for making mobile to mobile transfer, mobile to account transfer and mobile to merchant payment. The transfer can be made by entering details like beneficiary’s account number or mobile number and IFSC Code, or MMID.

IndusInd Bank NEFT Fees and Charges

NEFT Timings

  • Between 8:00 am to 6:30 pm
  • From Mondays to Saturday (except second and fourth Saturday)

RTGS Requisition Timings

  • Between 9.00 am to 4.00 pm
  • From Mondays to Saturdays (except second and 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 (Through Cheque)Excluding GST are:

No charges are levied on the payee account holder for making an NEFT or RTGS transaction via mobile banking or net banking. Inward fund transfer through NEFT and RTGS is available free of cost to IndusInd account holders. However, if you initiate an NEFT or RTGS transaction through cheque by visiting an IndusInd Bank branch, you will have to pay the following charges:

 Service Transaction Limit (INR) Charges (INR)
NEFT (outward) Upto 10,000 2.5
10,001 to 1,00,000 5
1,00,001 to 2,00,000 15
2,00,001 to 5,00,000 25
More than 5,00,000 50
RTGS (outward) 2,00,000 to 5,00,000 25
More than 5,00,000 50
IMPS Upto 10,000 2.5 + Service Tax
10,001 to 1,00,000 5 + Service Tax
1,00,001 to 2,00,000 15 + Service Tax

Note: Outward NEFT/ RTGS transactions are free of cost if the average account balance for last month is more than INR 20,000.

IndusInd Bank - FAQs

Q.1 Is there a limit for the amount that I can receive using IMPS?

No. There are no minimum or maximum amount limit to receive money through IMPS.

Q.2 What should I do if money was debited from my account but not credited in the beneficiary’s account?

In case the funds have debited from your account but not received by the beneficiary due to the incorrect IndusInd Bank IFSC Code or account number, the money will be reversed back to your account instantly. In case the beneficiary’s bank is not an NEFT/ RTGS/ IMPS enabled, you will receive back the money instantly. In case your transaction had timed out, either the beneficiary will receive the money in 2 working days or the money will be reversed back to your account within 5 working days.

Q.3 Can I send and receive remittance using a mobile number which is not registered with the Bank?

No, you can send or receive money only using your registered mobile number.

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