Federal Bank

Federal Bank IFSC and MICR Codes

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Federal Bank

IFSC code, MICR code and Bank Branches in India

Federal Bank IFSC Code

You can find the Federal Bank IFSC code on Paisabazaar.com. In the tools section, go to IFSC Code Locator. Select Federal Bank, the state in which the branch is located, City and the branch name. It will automatically give you the IFSC code and MICR code of that particular branch along with full address. You can also get the full list of Federal bank’s list of IFSC code and MICR code on Reserve Bank of India’s website. You can use this IFSC and MICR code for making any online transaction such as buying mutual fund and insurance and transferring your money online.

About Federal Bank MICR code
MICR code helps in clearing cheques. It basically means magnetic ink character recognition code. Every bank branch has separate MICR code.

What is NEFT
NEFT stands for National electronic fund transfer. Under this facility money is not transferred instantly. It will be executed in hourly batches after a time lag. There are 12 hourly settlements between 8 am to 7 pm on all weekdays and till 1 pm on Saturdays.
Rs 5 per transaction is charged if the transaction amount is less than Rs 1 lakh and Rs 25 is charged per transaction if the transaction amount is more than Rs 1 lakh.

What is RTGS
If you want to transfer funds atleast Rs 2 lakh instantly use real-time gross settlement (RTGS). As the name suggests, under this facility fund transfer happen on real-time basis that is instantly. There is no upper ceiling for RTGS. This service is available from 9 am to 4.30 pm on weekdays and 9 am to 2 pm on weekends.

About Federal Bank

Initially launched as Travancore Federal bank, it got the name Federal bank in 1947. Its headquarter is in Aluva, Kerala and has more than 1000 branches spread across different states in India.