HDFC IFSC Code

HDFC IFSC code is an 11-digit alphanumeric code that is used for online transfer of funds via IMPS, NEFT and RGTS. Each branch of HDFC bank is assigned with an IFSC code that gives it a unique identity. IFSC code, also known as the Indian Financial System Code is issued to each branch of the HDFC bank by the Reserve Bank of India (RBI). Using HDFC IFSC code makes it easy for individuals to transfer funds without having to worry about any discrepancies. Without a valid HDFC bank IFSC code, the fund transfer process is not validated and an individual cannot transfer money online. The first four digits of the HDFC IFSC code denote the name of the bank, the fifth digit is always 0 and the last six digits specify the branch address.

For example: Here is the HDFC IFSC code of Marol branch is HDFC0000592

Whereas the HDFC IFSC code of Dr Annie Besant Rd, Worli branch is HDFC0000240

Here the last 6 digits give both the bank branches give it a unique identity.

It is essential to know the HDFC ISFC code for initiating an online fund transfer as it helps the RBI and the transferor distinguish the branch bank to which the money is being transferred from and to.

Information required for transferring funds to HDFC bank account

If you are looking to do an electronic fund transfer to an individual holding an account with HDFC bank, then you would require the below information.

  • Name of the beneficiary
  • Name of the HDFC bank branch
  • HDFC bank account number of the beneficiary
  • IFSC code of the HDFC bank branch in which the beneficiary has the account
  • Contact details of the beneficiary

How to Search for HDFC IFSC Code and MICR Code?

HDFC IFSC code can be found in the account holder bank passbook chequebook.

For example: If A wants to transfer money into B’s HDFC account, then A has to know B’s HDFC bank branch’s IFSC code. If A knows the right IFSC code of B’s bank account only then the transfer will be validated.

HDFC IFSC code can also be checked online on a trusted website.

HDFC MICR code is an 11-digit numeric code that is used by the banks in the cheque clearing process. In the 11-digit HDFC MICR code, the first fourth, fifth and six digits denote the bank, while the last six digits represent the bank branch code.

HDFC MICR code can be found on the bottom of the chequebook, next to the cheque number. You can find HDFC MICR code online or can visit your bank branch to inquire about the same.

How to Transfer Funds Using HDFC NEFT, RTGS and IMPS?

Transferring money using HDFC NEFT process

HDFC offers its customers the NEFT payment service i.e. National Electronic Funds Transfer that allows online transfer of money in an easy and hassle-free way. Using the NEFT payment system, the HDFC bank account holder can transfer funds up to Rs.25 lakh per day. Knowing the IFSC code of the beneficiary’s bank is a must while doing NEFT transfer from a HDFC bank account.

With NEFT service by HDFC, the account holder can transfer money in a fast, easy and convenient way. HDFC account holder utilizing the NEFT service will have to pay the applicable GST too.

HDFC NEFT fund transfer can be done via internet banking, mobile banking, Enet or directly at the branch.

  • Transaction charges for NEFT from HDFC Bank branches
    • Up to Rs 10,000 - Rs 2.50 + Applicable GST
    • Above Rs 10,000 and up to Rs.1 lakh-Rs.5 + Applicable GST
    • Above Rs.1 lakh and up to Rs.2 lakh-Rs.15 + Applicable GST
    • Above Rs.2 lakh-Rs.25 + Applicable GST
  • HDFC Bank NEFT Timings: Online Transaction Timings: Monday to Saturday (Except 2nd and 4th Saturday and bank holidays) - 8:00 AM to 6:30 PM

Transferring Money Using HDFC IMPS Payment System

HDFC bank offers its customers with the inter-bank electronic fund transfer service available on a 24*7 basis. IMPS, known as Immediate Payment Service can be used for transferring funds from HDFC bank account on any day including Sundays and bank holidays. Through the HDFC bank IMPS system, individuals can send and receive funds with just the mobile number and MMID.

  • HDFC IMPS transaction charges
    • Above Rs.1 to Rs.1 Lakh - Rs.5 + GST
    • Above Rs.1 lakh to Rs.2 Lakh - Rs.15 + GST
  • HDFC IMPS transaction limits: NetBanking and MobileBanking: Limit of Rs.5000 per day for one customer ID

Note: Limit of Rs.5000 applies whether as an individual or multiple transactions from either of the channel but not from both the channels.

Transferring Money using Real Time Gross Settlement

HDFC RTGS payment system is the fastest way to transfer money online. It is a real-time payment mode, having no waiting period. There are no geographical limits set within India where one cannot transfer money using this system.

Minimum and maximum RTGS limit for HDFC bank account holders Minimum - Rs. 2 Lakh Maximum - No upper ceiling for RTGS transactions through Branch. But for RTGS done through Netbanking, a maximum of Rs.10 lakh can be transferred per customer id per day.

  • RTGS transactions charges
    • Above Rs. 2 lakh up to Rs.5 lakh-Rs.25 + Applicable GST
    • Above Rs.5 lakh-Rs.50 + Applicable GST
  • HDFC RTGS Transaction timings:
    • Online Transaction Timings: Monday to Saturday (Except 2nd and 4th Saturday and bank holidays) - 8:00 AM to 4:00 PM

About HDFC Bank

Housing Development Finance Corporation, HDFC Bank is one of India’s largest private sector banks, having over 88, 253 permanent employees as of March 2018. The bank was incorporated in the year 1994 and its first office and branch were inaugurated by then Union Finance Minister, Manmohan Singh. The bank offers an array of financial products including wholesale banking, retail banking, treasury, auto loans, two wheeler loans, personal loans, loans against property, consumer durable loan, lifestyle loan and credit cards.

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