Andhra Bank IFSC and MICR Code

The Indian Financial System Code, known through its acronym IFSC, is a unique 11-digit alphanumeric code that is required for carrying out online fund transfer via options of National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Services (IMPS). Andhra Bank IFSC code is a mandatory requirement to transfer funds from or to Andhra Bank accounts. The Andhra Bank IFSC code number has the same prefix alphabets but is unique for each particular branch. This is achieved by a combination of three components: first four letters are alphabets that identify Andhra Bank, then there is a zero which is followed by 6 digits which are based on the address of the bank’s branch. For example, the Andhra Bank IFSC code for its Connaught Place, New Delhi branch is ANDB0000048. As mentioned earlier, here, ANDB is used to identify Andhra Bank, then a zero, and then 6 digits which identify the specific branch of the bank.

The foundations of Andhra Bank were laid almost a century ago in 1923. When the nationalisation phase was initiated in the Indian financial sector in 1980, Andhra Bank became an entity that was wholly owned by the government. This public sector bank also forayed in international markets and established branches in the UAE as well as a JV in Malaysia. In 2019, it was announced that Corporation Bank and Andhra Bank will be merged together with the Union Bank of India.

Finding the Andhra Bank MICR code and IFSC code is a very simple process, especially if you are an existing account holder. Both these details are clearly printed on each leaf of your bank cheque book and on the passbook's first page. In today’s modern age of net banking and mobile banking many people do not maintain these physical financial booklets. Instead, Andhra Bank IFSC code search can be done using the search functionality available on top of this page. Also, you can easily find this information on the online banking portal, or Andhra Bank’s mobile app.

NEFT is a financial service that allows you to be able to send money digitally from one account to another without any fuss or having to visit the branch. The main requirement is for you to have an active Andhra Bank account and access to net banking. There are certain minimal charges involved in transacting using NEFT, as described in the table provided below. It is noteworthy that NEFT transactions are time bound. This too is mentioned in the table.

*Fees and charges are subject to the bank’s discretion.

To overcome the time based limitation of NEFT, the RTGS system of money transfer was introduced. This is a super fast way of transferring large amounts online. In fact, the minimum amount is Rs. 2 Lakh. Amounts lower than this cannot be transferred using RTGS. The receipt of payment is instant, however, there are applicable charges which change based on the time window used while making the transfer. These can be better understood from this helpful table.

*Fees and charges are subject to the bank’s discretion.

IMPS is another banking innovation that is used for instant money transfer of amounts lower than Rs. 2 Lakhs per day. In a way, it complements the RTGS service, which is only for amounts greater than Rs. 2 Lakhs. At present, there are no charges for IMPS transfers. IMPS gives you the freedom to send money directly to a person’s account number using the Andhra Bank IFSC code. You can also send money using the mobile number and MMID of the beneficiary. A relatively new feature is the ability to send money via IMPS using the sms service, which simplifies the process, especially when there is intermittent or no internet available.