IFSC Code
Sr. No. NEFT RTGS IMPS
1. National Electronic Fund Transfer Real Time Gross Settlement Immediate Payment Services
2. Deferred net settlement basis Real-time settlement Mobile based payment service
3. Funds transfer after a cut-off time Funds transfer at the time they are received Fund transfer online, mobile phones and ATM
4. Operates in hourly batches Settlement of funds transfer instructions occurs individually Transfer funds at any time even Sunday and public holidays
5. Eleven settlements from 9 am to 7 pm on weekdayse Processed continuously throughout the business hours Available 24*7 transfer facility using mobiles
6. After this you will have to wait till the next designated time 9.00 to 16.30 on weekdays. 9.00 to 13.30 hours on Saturdays. Available 24*7 transfer facility using mobiles
7. Five settlements from 9 am to 1 pm on Saturdays Meant for Rs. 2 lakhs and above Transactions settled individually and instantly
8. NEFT-enabled originating and beneficiary branches plus 1.Beneficiary account number 2. IFSC number of beneficiary branch RTGS enabled originating and beneficiary branches plus 1.Benficiary account number 2. IFSC number of beneficiary branch For order initiated online: 1.Beneficiary’s account number 2.IFSC number of beneficiary branch For order initiated on phone: 1.Beneficiary’s registered mobile number and 2.Beneficiary’s MMID (Mobile Money Identifier)
When you open a deposit account, the bank will provide you the following information:
The number of transactions, cash withdrawals etc. that can be done free of charge within a given the period and the charges leviable in case such limits are exceeded;
Rate of interest paid on savings deposits and its periodicity
Minimum balance to be maintained and charges for non-maintenance thereof
No. KYC done by one branch of a bank is valid for transfer to any branch of the same bank, as long as full KYC was done at the time of opening the first account / account at the first branch.. However, fresh address proof may be required to be submitted to the new branch.
Banks are required to invariably offer pass book facility to all its savings bank account holders (individuals). In case the bank offers the facility of sending statement of account and the customer opts for a statement of account instead of a pass book, the banks must issue monthly statement of accounts.
No. The cost of providing Pass Book or Statements should not be charged to the customer. However, if the account-holder asks for an account statement more often than what is prescribed, the bank may levy a charge.
The bank will close your account within three working days of receiving your instructions.
With effect from April 1, 2010, banks are required to pay interest on the end-of-day balances of all savings bank deposits accounts

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