To transfer funds electronically and conduct such financial transactions all banks in India, including Dena Bank, require their customers to mention the IFSC and MICR codes. The Reserve Bank of India assigns both these codes to all the banks in the country for the smooth functioning of fund transfers. Let's take a look at what an IFSC code means.
IFSC stands for Indian Financial System Code. It is an exclusive code that comprises a combination of alphabets and numbers. They have been created quite uniquely to represent the bank’s name: the first four alphabetical characters stand for the bank code and the last six numbers stand for the branch code. It can be found on your bank's cheque book as well as other bank documents.
This code is utilised for all kinds of electronic fund transfers that you may want to initiate such as Immediate Payment Service (IMPS), National Electronic Fund Transfer (NEFT), and Real-Time Gross Settlement (RTGS). The specific code represents a specific branch of a certain bank in India, ensuring that the process of transferring funds is safe and convenient for all their customers.
For example, the Dena Bank IFSC code for Bandra, Mumbai is BKDN0460144
The name of the bank is represented by the first four letters BKDN.
The fifth character is zero.
The last six numbers are used to identify the branch code; in this case Bandra, Mumbai.
Headquartered in Mumbai, Dena Bank is a well known public sector bank founded in the year 1938. It provides a bouquet of financial services to its customers across India through several branches.
Some of these services are savings accounts, fixed deposits, loans, PPF, as well as net banking and mobile banking for convenient bank transactions. It also offers electronic fund transfers via RTGS, NEFT, IMPS, and E-Wallet. It also provides direct tax collection as a public sector bank.
It is quite simple to find the Dena Bank Bank new IFSC Code and MICR Code online. All you need to do is follow some easy steps and get all the information with just a click of a button:
Step 1: Firstly, you log on to the bank’s official website
Step 2: The next step would be to enter the required information in the menu
Step 3: Lastly, enter the bank’s name and branch details after which the Dena Bank IFSC and MICR codes will automatically be displayed for that particular branch on your screen
As simple as it is to discover the Dena Bank IFSC Codes and MICR Codes online, it is equally straight forward to find them offline.
Step 1: The most convenient method to find the Dena Bank new IFSC code would be to refer to the bank’s cheque book.
Step 2: The code is mentioned on the top of the leaflet of the cheque book. The MICR code can also be discovered on the bottom of the cheque book leaves as well as the bank passbook.
The National Electronic Fund Transfer (NEFT) can allow you to transfer funds in a seamless and hassle-free manner.
Step 1: There is no maximum limit for NEFT transfers done at the branch or via NEFT online. You must also keep in mind that the bank follows a schedule for NEFT transfers that can be done on an hourly basis.
Step 2: Except for the second and fourth Saturdays, the NEFT facility is available on all days between 8:00 am to 7:00 pm.
Step 3: To perform an NEFT, you will need the name of the beneficiary, their bank and branch, account number, IFSC code, and lastly the exact amount you want to transfer.
For transferring funds through this medium, you are also required to pay certain charges. Let’s take a quick look at the charges:
NEFT transfers up to Rs 1 Lakh
NEFT transfers between 1 Lakh – 2 Lakhs
NEFT transfers above Rs 2 Lakhs
NEFT transfers to Nepal
Real-Time Gross Settlement System (RTGS) transfers are done on a distinct basis, which means that the funds are transferred individually and not batch-wise.
Step 1: RTGS is a very safe and super convenient way to transfer high-value amounts, i.e. a minimum of Rs 2 Lakh, and there is no maximum limit.
Step 2: For an RTGS to be completed, the name of the customer, bank and branch details, IFSC code, account number, and the remittance amount are required.
Step 3: Except for the second and fourth Saturdays, the RTGS facility is available on all days between 8:00 am to 4:30 pm.
Step 4: Additionally, there are some charges levied on the transactions: Rs. 28 for funds between 2 Lakhs -5 Lakhs and Rs. 56 for funds above Rs 5 Lakhs.
Tagged as an interbank money transfer service, IMPS (Immediate Payment Service) is a round-the-clock facility that enables an immediate transfer of money from one account to the other.
Step 1: It is a very quick, secure, and customer-friendly platform to perform your day-to-day transactions.
Step 2: Unlike NEFT and RTGS, IMPS requires very minimal information of the beneficiary like the mobile number and MMID only.
Online Dena Bank money transfer enables you to transfer money from your account to another anywhere in the country in real-time. It is not necessary for the beneficiary to have an account with Dena Bank. They can have accounts with any bank in India and you can still do the transfer in real-time. Typically, to transfer funds with Dena Bank, you will need
The name of the beneficiary,
Their bank and branch details,
Bank account number,
Lastly, the exact amount you want to transfer.
The 9-digit MICR code can be found on the bottom of the cheque leaflet as well as on your Dena Bank passbook.
You can discover your IFSC code online by searching through the bank's website or by using any search engine. You can also find the information offline by looking at your Dena Bank passbook or chequebook.
After the merger with Bank of Baroda (BOB), the IFSC code of Dena Bank is the same as BOB.
Yes, the IFSC code was changed after its merger with Bank of Baroda.