If you are searching for the IFSC code of Axis Bank, MAGAM branch in MAGAM, JAMMU AND KASHMIR, this page has every detail you need. The verified IFSC code for this branch is UTIB0005988. You can use it for NEFT, RTGS and IMPS fund transfers, online banking add-payee actions, UPI mandates and any other electronic payment request that asks for an Indian Financial System Code. The information on this page is curated specifically for customers, remitters, employers and businesses who need to credit funds to an account maintained at this branch, and it is structured so you can find what you need within a few seconds of landing here.
You will see the complete branch address, the area STD code and phone number, the city and state, the day-to-day banking services that are typically offered at the MAGAM branch, and detailed step-by-step guides for using the IFSC UTIB0005988 across NEFT, RTGS and IMPS rails. A frequently-asked-questions section at the end answers the most common queries we receive about this particular branch.
An IFSC (Indian Financial System Code) is an 11-character alphanumeric code issued by the Reserve Bank of India. It uniquely identifies every bank branch that participates in the RBI's electronic fund-transfer systems – NEFT, RTGS and IMPS. The first four characters represent the bank, the fifth is always a zero (reserved for future use), and the last six characters identify the specific branch.
For Axis Bank's MAGAM branch, the IFSC UTIB0005988 breaks down as follows: UTIB identifies the bank, 0 is the reserved character, and 005988 identifies this particular branch.
Bank profile
Axis Bank is among the recognised banks listed on the Reserve Bank of India's payments network. The Magam branch — IFSC UTIB0005988 — extends the bank's services to customers in and around Magam, Jammu and Kashmir.
Branch details at a glance
| Bank Name | Axis Bank |
|---|---|
| Branch | Magam |
| IFSC Code | UTIB0005988 |
| MICR Code | Refer to cheque leaf |
| Branch Address | GROUND FLOOR, MAGAM, TEHSIL BEERWAH, JAMMU AND KASHMIR |
| City | Magam |
| District | Budgam |
| State | Jammu and Kashmir |
| STD Code | 194 |
| Phone | 7051333561 |
About the Magam branch
The Magam branch of Axis Bank is situated at GROUND FLOOR, MAGAM, TEHSIL BEERWAH, JAMMU AND KASHMIR. Customers visiting this branch can complete cash deposits, withdrawals, demand draft requests, cheque clearing, passbook updates and KYC formalities. For online transactions to or from this branch, the IFSC code UTIB0005988 is used.
The role of IFSC in India's payments network
India's electronic payment infrastructure — NEFT, RTGS, IMPS, UPI and the National Automated Clearing House (NACH) — is built on a single principle: every participating bank branch must be uniquely identifiable by an alphanumeric code. The Reserve Bank of India introduced the IFSC system to fulfil this requirement, and that is how Axis Bank's MAGAM branch came to be assigned the code UTIB0005988.
Whether you are receiving a salary on the first of the month, paying a vendor invoice, settling an EMI, or accepting a refund from an e-commerce platform, the IFSC is the silent piece of metadata that tells the network where your account lives. Without IFSC UTIB0005988, money simply cannot be routed to the MAGAM branch electronically.
Products and account variants supported
Every account opened at the Magam branch is mapped to IFSC UTIB0005988 on the RBI payments network. The branch generally supports the full retail product catalogue of Axis Bank, including:
- Resident savings accounts and salary accounts
- Current accounts for businesses and professionals
- Fixed deposits, recurring deposits and tax-saver deposits
- Demand drafts, banker's cheques and pay orders
- Retail loans — personal, vehicle, education, gold and home
- Credit cards and overdraft facilities (subject to eligibility)
- Third-party investment products such as mutual funds and insurance (through tie-ups)
Whichever product you choose, the IFSC for incoming credits remains UTIB0005988.
Banking services available
The Magam branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 194-7051333561.
- Savings, current and salary accounts
- Fixed deposits and recurring deposits
- Personal, vehicle and home loans
- Demat and investment products (where supported)
- Internet banking and mobile banking enrolment
- Debit and credit card issuance
- Locker facilities (subject to availability)
- Foreign exchange services (at authorised branches)
- Bill payments, demand drafts and pay orders
- NEFT / RTGS / IMPS / UPI fund transfers using IFSC UTIB0005988
How to transfer money using IFSC UTIB0005988
Online transfers in India are powered by three major channels — NEFT, RTGS and IMPS — and each one requires a destination IFSC. Below is a quick guide for using IFSC UTIB0005988 across all three.
How to use IFSC UTIB0005988 for an NEFT transfer
NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Axis Bank's MAGAM branch. NEFT now settles on a 24x7 basis in half-hourly batches and has no upper limit for retail customers (individual banks may impose their own caps).
- Log in to your internet banking or mobile banking app.
- Choose Add Beneficiary and select NEFT / Other Bank.
- Enter the beneficiary name, account number and the IFSC UTIB0005988.
- Confirm the bank name auto-populates as Axis Bank and the branch as MAGAM.
- Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.
Real-Time Gross Settlement to MAGAM
If you need to transfer ₹2 lakh or more in one go to an account at Axis Bank's MAGAM branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC UTIB0005988 while initiating the transfer and the credit will appear within minutes.
IMPS to Axis Bank MAGAM (IFSC UTIB0005988)
IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC UTIB0005988 in your mobile or internet banking app, and the money is credited to the MAGAM branch account within seconds.
NEFT vs RTGS vs IMPS — which one should you use?
All three modes accept the IFSC UTIB0005988 for Axis Bank – MAGAM, but they differ in speed, minimum amount and use case. The table below summarises the differences so you can pick the right channel for the situation at hand.
| Parameter | NEFT | RTGS | IMPS |
|---|---|---|---|
| Minimum amount | ₹1 | ₹2,00,000 | ₹1 |
| Maximum amount | No RBI cap | No RBI cap | ₹5,00,000 |
| Settlement | Half-hourly batches | Real-time | Real-time |
| Availability | 24x7 | 24x7 | 24x7 |
| Best for | Routine transfers | High-value transfers | Urgent small / mid transfers |
| IFSC required | Yes – UTIB0005988 | Yes – UTIB0005988 | Yes – UTIB0005988 |
For most retail customers crediting the Magam branch, NEFT or IMPS will be the quickest and most economical option. RTGS comes in for one-off, high-value movements such as property purchases, vendor settlements or large gifts.
How UPI relates to the IFSC code
UPI lets you pay using a short Virtual Payment Address instead of typing the IFSC every time, but behind the scenes every UPI mandate is mapped to an account number plus an IFSC. For accounts at Axis Bank's MAGAM branch, the IFSC UTIB0005988 is what the National Payments Corporation of India (NPCI) uses to route the credit when you tap Pay on a UPI app.
That is why, even in the UPI era, it is still worth knowing the IFSC of your home branch — for failed UPI mandates, e-mandate set-ups, third-party platform onboarding and salary or refund credits.
Digital banking channels
Most day-to-day work that customers used to do at the Magam branch counter can now be completed digitally — adding a beneficiary, transferring funds, applying for a fixed deposit, raising a service request or downloading account statements. The IFSC UTIB0005988 is the link between the digital channel and the branch ledger; once a transaction is confirmed, the credit or debit is reflected in the same core banking system that the branch officers see.
MICR & cheque-truncation details
Cheques drawn on the Magam branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC UTIB0005988 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.
Common mistakes to avoid when using IFSC UTIB0005988
An incorrect IFSC almost always results in a failed transfer or, worse, a credit to the wrong branch. Before you click Confirm on a transfer to Axis Bank – MAGAM, double-check for these issues:
- Confusing 0 with O. The fifth character of every IFSC is the digit
0, not the letter O. Read carefully. - Spaces or hyphens. Do not put spaces in the IFSC. It is exactly 11 characters:
UTIB0005988. - Wrong branch. A bank can have dozens of branches in the same city. Make sure you are using the IFSC for the actual branch where the beneficiary holds the account, not just any nearby branch.
- Old IFSC after a merger. If two banks have merged, the IFSC may have been reissued. Always verify with a recent passbook or cheque leaf.
- Copy-paste from chat. Auto-correct on phones can silently change letters in IFSC codes. Type carefully or copy from a trusted source like the cheque book.
How to reach the Magam branch
The branch is located at GROUND FLOOR, MAGAM, TEHSIL BEERWAH, JAMMU AND KASHMIR, which puts it inside Magam, the broader Budgam district, and the state of Jammu and Kashmir. To plan your visit:
- Open Google Maps on your phone and search for “Axis Bank Magam branch” — the verified location pin for IFSC UTIB0005988 should appear at the top of the results.
- Confirm the branch is open by calling 194-7051333561 before stepping out, especially around public holidays.
- Carry photo ID and any account-related documents you may need for the transaction you plan to do.
Most banking work — passbook updates, fund transfers, statement downloads — can also be completed online without visiting the branch in person, as long as you know the IFSC UTIB0005988 and your account number.
Verifying IFSC UTIB0005988 from official sources
The IFSC listed on this page is sourced from the RBI's master list and validated against the bank's branch directory. To double-check before transferring large sums, you can also confirm UTIB0005988 by:
- Looking at the cheque leaf – IFSC is printed near the MICR band.
- Opening the passbook's first page.
- Calling the branch directly on 194-7051333561.
- Visiting the bank's official branch locator page.
Branch banking hours and holidays
Indian bank branches typically operate from 10:00 AM to 4:00 PM, Monday to Friday, and from 10:00 AM to 2:00 PM on working Saturdays (usually the 1st, 3rd and 5th Saturdays). The Magam branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC UTIB0005988, however, work 24x7.
Branch address & contact
Axis BankMagam Branch
GROUND FLOOR, MAGAM, TEHSIL BEERWAH, JAMMU AND KASHMIR
Magam, Jammu and Kashmir
Phone: 194-7051333561
IFSC: UTIB0005988
Frequently asked questions
Is IFSC UTIB0005988 valid for NEFT and RTGS?
Yes. IFSC UTIB0005988 is valid for all RBI-supported electronic transfer channels including NEFT, RTGS and IMPS.
What is the phone number of Axis Bank Magam branch?
You can reach the branch at 194-7051333561 during regular banking hours.
Does Axis Bank Magam branch offer locker facilities?
Locker availability depends on branch size and customer demand. Please contact the branch on 194-7051333561 to confirm.
Can I use IFSC UTIB0005988 for IMPS transfers?
Yes. IMPS works 24x7 and you only need the beneficiary's account number plus IFSC UTIB0005988 to send funds instantly.
How quickly will an NEFT transfer using UTIB0005988 be credited?
NEFT settles in half-hourly batches around the clock. Most transfers to Axis Bank – Magam reflect within 30 minutes.
What is the IFSC code of Axis Bank Magam branch?
The IFSC code of Axis Bank, Magam branch is UTIB0005988. It is used for NEFT, RTGS and IMPS fund transfers to this branch.
Is IFSC UTIB0005988 the same for all accounts at Magam branch?
Yes. The IFSC UTIB0005988 is shared by every account held at Axis Bank's Magam branch. Only the account number changes from customer to customer.
How do I add Axis Bank Magam as a beneficiary?
Log in to your internet or mobile banking app, go to Add Beneficiary, enter the account number and IFSC UTIB0005988, and complete OTP verification. Once activated, you can transfer funds at any time.
Summary
The IFSC code UTIB0005988 belongs to Axis Bank's MAGAM branch, located at GROUND FLOOR, MAGAM, TEHSIL BEERWAH, JAMMU AND KASHMIR in MAGAM, JAMMU AND KASHMIR. Use this code along with the beneficiary's account number for any NEFT, RTGS or IMPS transfer to this branch. Bookmark this page for quick reference whenever you need the branch's banking details.
