Kotak Mahindra IFSC code & MICR code

There are multiple ways to find the IFSC and MICR code for Kotak Mahindra Bank. You could find them printed on the cheque leaves of cheque books which are issued by the particular branch of Kotak Mahindra Bank. You can log on to the official website of Kotak Mahindra Bank and find the codes there. Another option is to log onto any of the various third party financial websites like BankBazaar and search for the codes there.

IFSC and MICR Codes from Kotak Mahindra Bank

You can follow the instructions given below to find Kotak Mahindra Bank IFSC and MICR Codes online:  

1. Step 1: Visit the official website of Kotak Mahindra Bank. 

1. Step 2: Navigate to the section for branch details or IFSC/MICR code search. 

1. Step 3: Enter the bank's name and the specific branch details to retrieve the IFSC and MICR codes. 

1. Step 4: Alternatively, visit the Reserve Bank of India (RBI) website and use the search option to find the codes for Kotak Mahindra Bank branches. 

Steps to Find Kotak Mahindra Bank IFSC and MICR Codes on BankBazaar 

Step 1: Visit the BankBazaar Website. 

Step 2: Scroll down the homepage until you find the 'Bank IFSC Code' tab and click on it. 

Step 3: In the new page that opens, you will see four dropdown menus: 

1. Select Bank: Click on this dropdown and choose 'Kotak Mahindra Bank'. 

1. Select State: Choose the appropriate state from the second dropdown menu. 

1. Select District: Select the relevant district from the third dropdown menu. 

1. Select Branch: Finally, choose the specific branch from the fourth dropdown menu. 

Step 4: After making your selections, BankBazaar will generate the IFSC and MICR codes for the chosen branch. 

Step 5: Along with the codes, you will also receive the branch's phone number, address, and branch code. 

How to find Kotak Mahindra Bank IFSC and MICR Codes Offline Methods

There are 3 different ways to find your Kotak Mahindra Bank IFSC and MICR Codes offline: 

1. Check your Kotak Mahindra Bank passbook. 

2. Alternatively, look at your Kotak Mahindra Bank chequebook—both IFSC and MICR codes are printed on the cheque leaves. 

3. Visit the Kotak Mahindra Bank personally and ask the bank representative for the IFSC and MICR codes.  

Kotak Mahindra Bank: IMPS, NEFT and RTGS  

NEFT (National Electronic Funds Transfer): NEFT is an electronic payment system offered by Kotak Mahindra Bank that allows you to transfer funds from one bank account to another across India. Regulated by the Reserve Bank of India (RBI), NEFT is ideal for transferring amounts of any size, making it suitable for both personal and business transactions due to its reliability and ease of use. 

Timings: At Kotak Mahindra Bank, NEFT transactions can be initiated at any time, but processing occurs in batches. Transactions submitted before 6:00 pm on weekdays and before 12:00 pm on working Saturdays will be processed the same day. Any transactions initiated after these times will be processed in the next available batch. 

Branch NEFT Charges at Kotak Mahindra Bank: 

1. Up to Rs.10,000: Rs.2 per transaction 

1. Rs.10,000 to Rs.2 lakh: Rs.4 per transaction 

1. More than Rs.2 lakh: Rs.24 per transaction 

RTGS (Real Time Gross Settlement): RTGS at Kotak Mahindra Bank is a real-time electronic funds transfer service that allows for immediate transfer of funds between banks. This service is particularly suitable for high-value transactions exceeding Rs.2 lakh. You should opt for RTGS for its ability to transfer large sums of money instantly, making it perfect for urgent payments. 

Timings: RTGS transactions at Kotak Mahindra Bank can be conducted on all working days. Requests made before 5:45 pm on weekdays and before 1:00 pm on Saturdays are processed on the same day. Transactions initiated after these cut-off times or on holidays will be processed on the next working day. 

Branch RTGS Charges at Kotak Mahindra Bank: 

1. Rs.2 lakh to Rs.5 lakh: Rs.20 per transaction 

1. More than Rs.5 lakh: Rs.40 per transaction 

IMPS (Immediate Payment Service): IMPS offered by Kotak Mahindra Bank allows for instant interbank electronic funds transfer, available 24/7, including on holidays. This service enables you to transfer funds using the beneficiary’s mobile number and MMID or account details. You should use IMPS for its immediate availability and speed, making it ideal for urgent transfers. 

Timings: IMPS transactions at Kotak Mahindra Bank are available 24/7, allowing you to initiate transfers at any time without cut-off restrictions, including weekends and public holidays. 

IMPS Charges at Kotak Mahindra Bank: 

1. Up to Rs.100,000: Rs.5 per transaction 

1. Rs.100,000 to Rs.200,000: Rs.15 per transaction 

How to Transfer Money Using NEFT and RTGS with Kotak Mahindra Bank 

Step 1: Log in to your net banking account. 

Step 2: Select 'Funds Transfer'. 

Step 3: Choose the transfer type: select NEFT for amounts below Rs.2 lakh or RTGS for amounts above Rs.2 lakh. 

Step 4: Enter the payee details, including the recipient's name, name of the bank, account number, and IFSC code. 

Step 5: Specify the amount to transfer. 

Step 6: Review the details and click 'Submit'. 

Note the confirmation message or reference number. 

Kotak Mahindra Bank IFSC Code Structure

The Kotak Mahindra Bank IFSC code is an 11-character alphanumeric code used to identify each of the bank’s branches for electronic fund transfers such as NEFT, RTGS, and IMPS. It is divided into three distinct parts: 

1. First Four Characters (KKBK): These represent the bank code and are always 'KKBK' for Kotak Mahindra Bank. This part of the code helps identify the bank involved in the transaction. 

1. Fifth Character (0): The fifth character is always '0' and is a placeholder reserved for future use, as per the format defined by the Reserve Bank of India (RBI). 

1. Last Six Characters: The final six characters are numeric and denote the branch code. These characters are unique for each branch of Kotak Mahindra Bank, ensuring precise identification of the specific branch where the account is held. 

Importance of Kotak Mahindra Bank IFSC Code

The significance of Kotak Mahindra Bank IFSC Code is listed below:  

1. Ensures accurate identification of both the bank and the specific branch for electronic fund transfers. 

1. Required for all online transactions, including NEFT, RTGS, and IMPS. 

1. Prevents delays or errors by routing the transaction to the correct branch. 

1. Reduces the risk of funds being misdirected during the transfer process. 

1. Mandatory for both sending and receiving payments in digital transactions. 

1. Essential for verifying the recipient's bank branch, enabling smooth and secure fund transfers. 

What is the Kotak Mahindra Bank MICR Code?

The Kotak Mahindra Bank MICR (Magnetic Ink Character Recognition) code is a 9-digit code used to identify the bank and branch during cheque processing. It helps facilitate the electronic clearing of cheques by automating the process. The MICR code is printed on the bottom of cheques and consists of three parts: the first three digits represent the city code, the next three digits indicate the bank code, and the final three digits denote the branch code. Each Kotak Mahindra Bank branch has a unique MICR code, ensuring accurate and efficient cheque processing. 

About Kotak Mahindra Bank (KMB)

Headquartered in Mumbai, Kotak Mahindra Bank is the fourth largest Indian private sector bank by market capitalization in the country. It was established in 1985 and created history by being the first bank in India to have been converted from a company to a bank. The bank has over 641 branches and over 1,159 ATMs spread across 363 locations in India. Kotak Mahindra Bank also provides various other financial products to their customers such as deposit accounts, loans, investment services, business banking solutions, treasury and fixed income products among others.