• Investment
  • Car
  • Bike
  • Taxi
  • Term Life
  • Health
  • Travel

Punjab National Bank IFSC Code

Punjab National Bank IFSC code stands for Indian Financial System Code of the Bank that gives it a unique identity from other Indian banks. The Reserve Bank of India has assigned a unique identification code to each branch bank to help its account holders carry out online transactions in an easy way. Without a valid Punjab National Bank IFSC code, the funds transfer process is not validated and an individual cannot carry out the financial transaction. Thus, it becomes important for the transferor to know the right IFSC code to successfully transfer money to the PNB bank account holder’s account. The Punjab National Bank IFSC code can be used to carry out online funds transfer through the IMPS, RTGS and NEFT payment systems.

What is Punjab National Bank IFSC Code?

The Punjab National Bank IFSC code is an 11-digit alphanumeric number that denotes the following: The first four digits represent the name of the bank, 0 is the fifth digit that is common for all the bank branches and the last six digits stand for the PNB branch bank.

To understand Punjab National Bank IFSC code, here’s an example: IFSC code of Punjab National Bank Powai Branch is PUNB0870900

IFSC code of Punjab National Bank Ghatkopar West is PUNB0974200

It can be noted that the first five letters in both the codes is similar i.e. PUNB

The fifth digit and the last six digits are different, thus giving both Powai and Ghatkopar branch a distinct identity.

Required Information for transferring funds to Punjab National bank account

To transfer funds to an individual holding an account with PNB bank, here is a list of required details.

  • Account holder’s name
  • Contact details of the account holder
  • Branch name of the account holder
  • IFSC code of the branch bank
  • Axis bank account number
  • Contact details of the account holder

Required Information for transferring funds from Punjab bank account

To successfully initiate a funds transfer from your Punjab National Bank account, the below details are required to be filled in by the transferor.

  • Name of the beneficiary
  • Contact details of the beneficiary
  • Branch name of the beneficiary
  • IFSC code of the branch bank
  • Contact details of the beneficiary

How to look for Punjab National Bank IFSC and MICR Code?

One can find Punjab National Bank’s IFSC code online or offline.

The ISFC code can be found on the passbook or the cheque issued by the bank, whereas, one can always look for IFSC code by entering the name of the bank, state, district and the branch.

MICR code can be found at the bottom of a cheque and is used for the purpose of the cheque clearing process. In the 11-digit PNB MICR code, the first fourth, fifth and six digits denote the bank, while the last six digits represent the bank branch code.

Transferring Money using PNB NEFT, RTGS and IMPS service?

NEFT service by Punjab National Bank:

Punjab National Bank enables its customers to send and receive funds through the NEFT payment system. NEFT stands for National Electronic Funds Transfer that facilitates the online transfer of funds from one bank to another. To transfer funds through NEFT, it is important for the transferor to know the IFSC code of the transferee bank. The maximum amount of Rs.500.00 lacs can be transferred via PNB NEFT service. The NEFT service by the bank operates on an hourly basis i.e. 12 settlements from 8am-7pm on weekdays and 6 settlements on 8 am-1pm on Saturdays.

IMPS service by PNB Bank

Punjab National Bank offers the IMPS service i.e. immediate payment service meaning that the interbank funds transfer can be facilitated on a 24* 7 basis including Sundays and bank holidays. Funds transfer through IMPS can be done through internet banking, mobile banking or ATM. Rs. 50,000/- per day is the limit for IMPS transfer. However, through SMS & NUUP variants, the limit is Rs.5000/- per day and through ATMs, limit is Rs.10000/- per day.

RTGS service by PNB Bank

RTGS stands for real-time gross settlement meaning that the transfer of the funds can be done on a real-time basis. The minimum transaction limit for carrying out the RTGS transaction is 2 lakhs and there is no maximum limit set by the bank.

About Punjab National Bank

Punjab National Bank is a 119 year old National Bank having more than 6082 branches in the country. The bank also has 5 branches overseas. The bank offers unique financial products for individuals of all age group. The bank offers various financial products such as loans, deposits, accounts, deposits, etc. The bank caters to financial requirements of individuals, corporates, agriculturists and SMEs.

Leave a rating!
1.0 (0 votes)