Kotak Mahindra Bank IFSC and MICR Code

The first three digits of the MICR code represent the city, the next three represent the bank code and the last three digits represent the bank branch. Keep in mind that both IFSC code and MICR code are unique to each branch of any bank.How to Transfer Money via Kotak Mahindra Bank through NEFT

The National Electronic Fund Transfer System, known as NEFT is a 24X7 nationwide fund transfer system from one bank branch to another using IFSC code. It can be simply done using your phone, laptop, computer or any such device that has access to the internet. It is a fast process that saves a lot of time and energy as you can easily avoid branch visits and do all kinds of bank jobs from the comfort of your home or workplace.

To transfer money via Kotak Mahindra bank through NEFT, simply login to Kotak’s website, add beneficiary (the person you wish to send money to) details like bank name, bank account number and IFSC code. Then enter the amount and confirm.

If you want to transfer money using NEFT from another bank to Kotak Mahindra Bank, enter the IFSC code of the particular branch of Kotak Mahindra Bank. The time taken for the money to reach the beneficiary’s account depends on his/ her bank procedures. However, the funds are generally transferred within the same day if the transaction is made within the cut-off time, else it is transferred on the next day.

How to Transfer Money via Kotak Mahindra Bank through RTGS

If you wish to transact an amount above INR 2 Lakhs to a non-Kotak Mahindra Bank account, RTGS is the most convenient option. There is no maximum limit and it is a fast process as well. However, you would have to ensure that the beneficiary’s bank is also a participant in the Real Time Gross Settlement (RTGS) by the RBI. The money transfer can be done via mobile banking, online banking, or at the bank branch well.

How to Transfer Money via Kotak Mahindra Bank through IMPS

Immediate Payment System(IMPS) is an instant interbank fund transfer system that allows easy transfer of amount from your account to the beneficiary’s account by mentioning the IFSC code and bank account number. To avail of this 24x7 facility, you require a valid MMID along with a device with an internet connection.

• Name of the beneficiary

• Account Number of the beneficiary

• IFSC code of the recipient’s bank branch

• Sender to receiver information (if any)

For Kotak Bank’s IFSC Code Based Transfer

• Name of the beneficiary

• Account number of the beneficiary

• IFSC code of the recipient’s bank branch

For MMID Based Transfer

• Name of the beneficiary

• Beneficiary’s MMID

• Mobile number of the beneficiary