IFSC Code

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Kotak Mahindra Bank IFSC Code: MICR Code & Bank Address in India

IFSC means Indian Financial System Code. IFSC is a unique code given to each branch of each bank in the country to enable them to smoothly carry out the electronic transfer of funds. The IFSC code is a code which helps each bank facilitates online transactions through NEFT/IMPS/RTGS.

Kotak Mahindra Bank IFSC Code Structure

The IFSC code is an alphanumeric code consisting of eleven characters. The first four of these characters are alphabets which denote the bank code. While the next character is always a zero, the last remaining characters are numbers which represent the branch code of the bank.

Kotak Mahindra Bank IFSC Code

The Kotak Mahindra Bank IFSC Code begins with the letters KKBK. These four letters signify the bank code. Each branch of Kotak Mahindra will have an IFSC code starting with these letters.

However, the characters which make the Kotak Mahindra Bank IFSC code unique are the last six characters. These are always numbers which denote the branch code.

About Kotak Mahindra Bank

It is of the most popular private sector banks in India that are headquartered in Mumbai, Maharashtra. The bank got its banking license from the Reserve Bank of India (RBI) . Since then the bank has been offering its customer’s a delightful experience with the best of banking services in India.

How to Find Kotak Mahindra Bank IFSC Code and MICR Code Online?

Kotak Mahindra Bank’s IFSC code and MICR code of all the branches can be searched online using the bank’s full name and the branch name. Even the bank’s official website has a list of IFSC code of all the Kotak Mahindra branches. Furthermore, you can find Kotak Mahindra Bank IFSC Code on the Reserve Bank of India Website.

How to Find Kotak Mahindra Bank IFSC Code and MICR Code Offline?

Kotak Mahindra Bank’s passbook and chequebook have IFSC code and MICR code imprinted on the leaflets.

Kotak Mahindra Bank IFSC Code

The Required Information for Transferring Funds Using Any Mode of Payment

The funds can be transferred in 5 simple steps using the Kotak Mahindra Bank IFSC Code:

Log in to your net banking account
Select the Transfer Option
Select the other bank/your bank option
Enter the payee’s account details
Enter the amount to be transferred

NEFT

NEFT is done to transfer money to any other beneficiary bank account. It is possible if the beneficiary bank participates in the National Electronic Funds Transfer Scheme. RBI regulates all the NEFT transactions through the IFSC Code. NEFT can be done through Net banking, mobile banking, and through the bank branch.

RTGS

RTGS is done to transfer money to any other beneficiary bank account without wasting much time. It is possible if the beneficiary bank participates in the Real Time Gross Settlement Scheme.

The funds are transferred using RBI’s Interbank Transfer Scheme. RTGS is suitable for transactions above Rs. 2 lakh. RTGS can be done through Net banking, mobile banking, and through the bank branch.

IMPS

Using IMPS or Immediate Payment Service you can instantly transfer funds to the payee’s bank account. It is possible if the beneficiary bank is participating in IMPS. Funds can be transferred throughout the day i.e. 24x7, even on bank holidays and weekends. IMPS can be done through Net banking and mobile banking. IMPS services are facilitated by the National Payments Corporation of India (NPCI) in association with the member banks.

To initiate a transaction you need a valid MMID code for mobile banking and internet connection. Also, you would need access to Kotak Bank’s Mobile banking facility, SMS banking, and net banking. If the beneficiary’s account is in Kotak bank then you would need Kotak Bank IFSC code to initiate the transaction.

IMPS Fund Transfer is Possible:

By using IFSC code and account number
By using MMID (Mobile Money Identifier) and mobile number

Kotak Mahindra Bank NEFT & RTGS Timings

NEFT Timings

The account is credited and debited online.

The transactions that are initiated before 6:00 pm from Monday to Friday (as per the working days in Mumbai) are sent to the RBI to be cleared on the respective cycles. On weekends it is before 12:00 pm (for working Saturdays in Mumbai).

All the transactions are cleared by RBI and the amount will be credited to the Beneficiary's account on the basis of the time taken by the beneficiary's bank to process the payment.

RTGS Timings

RTGS requests that are initiated before 5:45 pm from Monday to Friday and before 1 pm on Saturdays will be transferred online and the bank will send the request to RBI on the same day.

All the transactions that are initiated on a holiday or after the cut-off time shall be processed on the next working day. The beneficiary’s account will be debited once the request is processed, which is subjected to the clearing of funds.

Kotak Mahindra Bank RTGS/ NEFT/ IMPS Fees and Charges

Product	Amount (in Rs.)	Standard Charges (in Rs.)
IMPS	Up to Rs. 100000	Rs.5 per transaction
IMPS	Rs. 1 lakh to 2 lakh	Rs.15 per transaction
NEFT (Applicable only if done in Branch)	Up to 10k	Rs.2 per transaction
	Rs. 10k to 2 lakh	Rs.4 per transaction
	Less than 2 lakh	Rs.24 per transaction
RTGS (Applicable only if done in Branch)	Rs. 2 lakh to 5 lakh	Rs.20 per transaction
RTGS (Applicable only if done in Branch)	Less than 5 lakh	Rs.40 per transaction

Kotak Mahindra Bank IFSC Code - FAQs

Q1. Why is Kotak Mahindra Bank IFSC Code required?

For all the online transactions to any of the Kotak Mahindra Bank’s branch, you would need the specific Kotak Mahindra Bank IFSC code. It is required for NEFT/RTGS/IMPS transactions.

Q2. Can I find Kotak Mahindra Bank IFSC Code online?

RBI’s website has Kotak Mahindra Bank IFSC Code of all the branches across India. You can also find it on the bank’s website. You can also find it offline on your chequebook/passbook.

Q3. Can Kotak Mahindra Bank IFSC Code of two branches be the same?

The IFSC code of all the Kotak Mahindra Bank branches will be different. It is a unique code and no two branches can have the same code.

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