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Federal Bank (FDRL) is one of the oldest banks in India that allows its customers to use net banking to conduct money transfers via NEFT, IMPS, and RTGS. For these transactions, an IFSC Code is very important. An IFSC code ensures that there are no errors and the amount is transferred to the correct bank account and branch. Each FDRL IFSC code is unique to each branch and no two branches can have the same IFSC code.

Federal Bank IFSC Code

IFSC stands for The Indian Financial System Code and is an 11 digit alphanumeric code that is required to carry out online fund transfers via National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), or Immediate Payment Services (IMPS). It is issued by the RBI for the safe and secure transfer of funds.

An IFSC code is a combination of three components: the first four letters are alphabets that identify the bank, then there is a zero which is followed by 6 digits which identify the bank’s branch.

Let’s understand it better with an example – the IFSC code for the Federal Bank Indiranagar branch in Bengaluru city is FDRL0001535. Here, the first four letters of the code 'FDRL' represent the bank name, the fifth digit is 'zero’, the last six numbers, '001535’, identify a unique Federal Bank branch in Indiranagar, Bengaluru.

About Federal Bank

Federal Bank is a private commercial bank established in the year 1931. Previously known as the Travancore Federal Bank, in the year 1947, it came to be known as the Federal Bank and has thousands of branches spread across all the major cities in the country.

It offers a host of services to its customers including electronic passbooks, loans, locker facilities, fixed deposits, net banking, fund transfers, and a lot more. Their unique app allows customers to open accounts, as well as gain access to a chat facility that helps customers with their queries and concerns.

How to Find the Federal Bank IFSC Code and MICR Code Online?

Finding the Federal Bank MICR code and IFSC code is a very simple process, especially if you are an existing account holder.

  • Step 1: To obtain the IFSC code and MICR code, you are required to go to the bank’s official website and enter your branch information.

  • Step 2: Alternatively, you can check out the RBI website or use a search engine(Google, Yahoo etc.) to find the IFSC Code and MICR Code online.

How to Find Federal Bank IFSC Code and MICR Code Offline?

You can also procure this information from the passbook or the cheque book that you got from the bank. Both codes are clearly mentioned on the first page of both documents.

How to Transfer Money via Federal Bank through NEFT?

Below are the steps how to transfer money via Federal Bank through NEFT

  • Step 1: NEFT or National Electronic Funds Transfer is a financial service that allows you to send money digitally from one account to another without any hassle or having to visit the branch.

  • Step 2: The main requirements are an active Federal Bank account and access to net banking. Except for the second and fourth Saturdays, the NEFT facility is available on all days between 8:00 am to 6:30 pm.

For transferring funds through this medium, you are also required to pay certain charges:

NEFT Transaction

Charges

NEFT transfers up to Rs. 10,000

Rs. 2.5

NEFT transfers between Rs. 10,000- Rs. 1 Lakh

Rs. 5

NEFT transfers between 1 Lakh – 2 Lakhs

Rs. 15

NEFT transfers above Rs 2 Lakhs

Rs. 25

How to Transfer Money via Federal Bank through RTGS?

Below are the steps how to transfer money via Federal Bank through RTGS

  • Step 1: RTGS stands for Real-Time Gross Settlement. It is one of the most secure modes to transfer a substantial amount of money in real-time.

  • Step 2: This procedure is used for transactions amounting to Rs. 2 Lakhs or more. There is no maximum limit mentioned by the bank to use this service. To perform an RTGS, the information required is the name of the customer, bank and branch details, IFSC code, account number and the amount.

  • Step 3: It is to be noted that there are charges levied on the transactions: Rs. 25 for funds between 2 Lakhs -5 Lakhs and Rs. 50 for funds above Rs. 5 Lakhs.

How to Transfer Money via Federal Bank through IMPS?

Below are the steps how to transfer money via Federal Bank through IMPS

  • Step 1: IMPS (Immediate Payment Service) is a 24x7 facility that enables the quick and convenient transfer of money from one Federal bank account to another.

  • Step 2: It is possible to conduct the transactions using the Internet, a mobile phone or via an ATM. IMPS gives you the liberty to send money directly to a person’s account number using the Federal Bank IFSC code.

Information Required for Transferring Funds with Federal Bank

  • With the online transfer facility offered by the Federal Bank, you can transfer funds from one Federal Bank account to another account anywhere in India.

  • To perform a transaction, you will need details like the name of the beneficiary, their bank account number, branch details, IFSC code, and the amount you wish to transfer to the beneficiary.

FAQs on Federal Bank IFSC Code

  • ✔️How can I know my MICR code of Federal Bank?

    The 9-digit Federal Bank MICR Code is visible on the bottom of every cheque leaflet next to the cheque number.

  • ✔️How can I find my Federal Bank branch IFSC code?

    The 11-digit code is visible on the top of every cheque leaflet as well as on the first page of the passbook. Additionally, it can be found on the bank’s official website as well as on third-party engines.

  • ✔️What is the Sort Code of Federal Bank?

    The sort code is a six-digit number that identifies the bank and the branch where your account is held and is usually used for international transfers. You can typically find your sort code on bank statements or on the bank card printed alongside account number.

  • ✔️What is the BSR code of Federal Bank?

    BSR code stands for Basic Statistical Returns and is a seven-digit bank code used in challans as a unique challan identification number. BSR Code can be found using online search tools where you need to enter the name of the bank, the state, the district, and the branch of the bank, and you can get the BSR code.

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