FEDERAL BANK IFSC CODE

Federal Bank’s Indian Financial System Code or IFSC code is a unique 11-digit alphanumeric code assigned by the Reserve Bank of India (RBI) to every branch of a bank to recognise them when engaging in transactions. The IFSC code becomes mandatory to use electronic payment methods of RTGS, IMPS and NEFT from one bank account to another. IFSC code simplifies transactions and eliminates errors as no two banks, or bank branches can have the same IFSC Code. 

Federal Bank IFSC Code Structure

IFSC code consists of the bank name, a future perspective and the last six digits that represent the bank branch. The IFSC Code of Federal Bank breaks down into the following:

• The first four letters will be ‘FDRL’ representing the bank name.
• The fifth digit, ‘0’, is for future perspective.
• The last six digits refer to a unique branch of the Federal Bank.

For instance, Federal Bank at Chandan Palace, Jail Road, Gurgaon, has an IFSC code as FDRL0001355. Here, ‘FDRL’ is the bank name, ‘0’ is kept aside, and ‘001355’ is the branch code for Federal Bank at Jail Road, Gurgaon. 

Before making any transaction, ensure that you have the correct IFSC code.

Federal Bank Branch Code

Every bank branch is different from another, in order to have an easier transaction, a six-digit code is allotted to each bank branch. This unique code is printed on chequebooks and pass-books or can be found on the bank statement. 

MICR Code of Federal Bank

The Magnetic Ink Character Recognition Code or MICR Code is a 9-digit alphanumeric code assigned by the Reserve Bank of  India. It is a unique code assigned to each bank branch, printed at the bottom half of the cheque, for bankers to identify the branches and conveniently clear the cheque. Each bank participating in the Electronic Clearing Services Scheme or the ECS is assigned an MICR Code. For instance, MICR Code ‘110049007’ can be broken down to ‘110’ representing the pincode of Gurgaon, ‘049’ representing the Federal Bank code and ‘007’ denoting the branch code.

Federal Bank’s Bank Code

There is a three-digit code allotted to each bank by the Reserve Bank of India on a national basis. This code can be found in the MICR code as the middle three digits. The bank code for each bank is different but for its various branches remains the same. RBI has assigned ‘049’ as the Federal Bank bank code.

SWIFT Code Federal Bank

The Society for Worldwide Interbank Financial Telecommunication Code or SWIFT Code is used by banks when making international transactions between banks. It is a format of Bank identifier Code or BIC. This code gives a bank or financial institution its unique identity, making the transactions easier. A bank’s SWIFT Code can be found on its website. The SWIFT code is an eight to eleven-digit alphanumeric code that can be divided into the following:

• The first four letters represent the bank.
• The next two letters denote the country.
• The next two can either be a number or an alphabet to point out the location code.
• The last three digits specify the branch of the bank.

SWIFT Code Federal Bank can be taken as an example -. FDRLINBBIBD can be divided into ‘FDRL’, implying Federal Bank, ‘IN’ denoting India, ‘BB’ is the location code and ‘IBD’ representing the International Banking Department.