This page lists the IFSC code, branch address, contact number and fund-transfer information for Axis Bank, PALLADIUM LOWER PAREL branch in MUMBAI. The 11-digit IFSC UTIB0005116 uniquely identifies this branch in the RBI's centralised payments network and is required for every NEFT, RTGS or IMPS transaction routed to this branch. If you are paying somebody who banks with Axis Bank at the PALLADIUM LOWER PAREL location, this is the only IFSC you need.
We have organised this page into clearly labelled sections so you can jump straight to the part that interests you — the IFSC and MICR details, the full postal address, the contact phone number, a quick primer on NEFT, RTGS and IMPS, the typical product line-up at the branch, and a frequently asked questions section that addresses the queries people raise most often about this branch.
IFSC stands for Indian Financial System Code. It is an 11-character code that pinpoints a particular bank branch on the RBI's real-time payment rails. Every NEFT, RTGS or IMPS instruction must carry the destination branch's IFSC for the credit to land in the correct account.
In our case, UTIB0005116 is the IFSC of Axis Bank's PALLADIUM LOWER PAREL branch. The format is fixed: UTIB = bank code, 0 = reserved, 005116 = branch identifier.
Bank profile
Axis Bank is among the recognised banks listed on the Reserve Bank of India's payments network. The Palladium Lower Parel branch — IFSC UTIB0005116 — extends the bank's services to customers in and around Mumbai, Maharashtra.
Branch details at a glance
| Bank Name | Axis Bank |
|---|---|
| Branch | Palladium Lower Parel |
| IFSC Code | UTIB0005116 |
| MICR Code | Refer to cheque leaf |
| Branch Address | GROUND FLOOR, SHOP NO G9 AND G10, PALLADIUM, PHOENIX MILLS COMPOUND, 462, SENAPATI BAPAT MARG, LOWER PAREL, MUMBAI |
| City | Mumbai |
| District | Mumbai |
| State | Maharashtra |
| STD Code | 22 |
| Phone | 7977675763 |
Palladium Lower Parel branch overview
Located at GROUND FLOOR, SHOP NO G9 AND G10, PALLADIUM, PHOENIX MILLS COMPOUND, 462, SENAPATI BAPAT MARG, LOWER PAREL, MUMBAI, the Palladium Lower Parel branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC UTIB0005116 is required for all interbank electronic transfers routed through this branch.
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 PALLADIUM LOWER PAREL branch came to be assigned the code UTIB0005116.
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 UTIB0005116, money simply cannot be routed to the PALLADIUM LOWER PAREL branch electronically.
Account types you can open at the Palladium Lower Parel branch
Once you have an account at Axis Bank – PALLADIUM LOWER PAREL, the IFSC UTIB0005116 stays the same regardless of the type of account you hold. The branch typically supports the following options:
- Savings account — for individuals, with chequebook, ATM card and net-banking access.
- Current account — for sole proprietors, partnerships and companies that need higher transaction volumes.
- Salary account — opened in bulk for corporate employees, often with zero-balance benefits.
- NRE / NRO accounts — for non-resident Indians who want to repatriate or maintain rupee balances in India.
- Fixed deposit and recurring deposit — term-based investment accounts with quarterly or cumulative interest.
- Senior citizen accounts — concessional minimum balance and a small interest rate premium on FDs.
- Minor and student accounts — operated jointly with a guardian until the customer turns 18.
Eligibility, minimum balance and KYC requirements vary by product. Speak to a relationship officer at the branch for the latest schedule of charges and interest rates.
Banking services available
The Palladium Lower Parel branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 22-7977675763.
- 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 UTIB0005116
How to transfer money using IFSC UTIB0005116
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 UTIB0005116 across all three.
NEFT to Axis Bank, PALLADIUM LOWER PAREL using IFSC UTIB0005116
National Electronic Funds Transfer is the simplest way to move money into an account at this branch. NEFT works around the clock, including Sundays and public holidays, and settles in half-hourly batches.
To send funds, add the recipient as a beneficiary in your bank's online portal, key in the account number, paste the IFSC UTIB0005116, and confirm that the system picks up Axis Bank – PALLADIUM LOWER PAREL. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.
Real-Time Gross Settlement to PALLADIUM LOWER PAREL
If you need to transfer ₹2 lakh or more in one go to an account at Axis Bank's PALLADIUM LOWER PAREL branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC UTIB0005116 while initiating the transfer and the credit will appear within minutes.
IMPS to Axis Bank PALLADIUM LOWER PAREL (IFSC UTIB0005116)
IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC UTIB0005116 in your mobile or internet banking app, and the money is credited to the PALLADIUM LOWER PAREL branch account within seconds.
NEFT vs RTGS vs IMPS — which one should you use?
All three modes accept the IFSC UTIB0005116 for Axis Bank – PALLADIUM LOWER PAREL, 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 – UTIB0005116 | Yes – UTIB0005116 | Yes – UTIB0005116 |
For most retail customers crediting the Palladium Lower Parel 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.
UPI payments and IFSC UTIB0005116
UPI (Unified Payments Interface) has become the default way for individuals to send money in India. While most UPI transactions are addressed using a Virtual Payment Address (VPA) like name@bank, the underlying account at Axis Bank – PALLADIUM LOWER PAREL is still mapped to IFSC UTIB0005116. When a customer links a savings or current account to a UPI app for the first time, the app silently looks up this IFSC against the account number to verify the account exists. The VPA acts as a friendly alias on top of the same plumbing.
If a UPI transfer to or from this branch fails, the most common reasons are an inactive UPI handle, a daily limit breach or a temporary outage at one of the participating banks — not the IFSC. You can always fall back to NEFT or IMPS using the IFSC UTIB0005116 and the beneficiary's account number to complete the transfer.
Online banking and IFSC UTIB0005116
Axis Bank customers can register for net banking and the bank's official mobile app once their account at the PALLADIUM LOWER PAREL branch is active. Net banking lets you view balances, download statements, open fixed deposits, request cheque books and initiate NEFT/RTGS/IMPS transfers — all without setting foot in the branch. The IFSC UTIB0005116 is pre-filled by the bank for transfers originating from your own account, and you only need to enter it manually when adding an external beneficiary or sharing your account details with a third party.
MICR & cheque-truncation details
Cheques drawn on the Palladium Lower Parel branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC UTIB0005116 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.
Things to verify before sending money
Banking errors are usually small typos that snowball into delayed credits and customer-care follow-ups. Use this short checklist before you confirm any transfer to Axis Bank – PALLADIUM LOWER PAREL:
- The IFSC is exactly UTIB0005116 with no extra spaces.
- The beneficiary's account number matches what they shared, digit for digit.
- The portal auto-fills Axis Bank as the bank name and PALLADIUM LOWER PAREL as the branch.
- The amount and the purpose of payment are correct.
- You have a valid OTP-verifying mobile number on hand.
A 30-second review here saves hours of reconciliation later.
Reaching the branch
The Palladium Lower Parel branch sits at GROUND FLOOR, SHOP NO G9 AND G10, PALLADIUM, PHOENIX MILLS COMPOUND, 462, SENAPATI BAPAT MARG, LOWER PAREL, MUMBAI. If you are travelling from outside Mumbai, search for the branch on a maps application using the bank name and locality, or call 22-7977675763 to ask for landmarks. Many customers find it easier to skip the trip altogether: net banking, mobile apps, NEFT, RTGS, IMPS and UPI all work using the IFSC UTIB0005116 and your account number.
Verifying IFSC UTIB0005116 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 UTIB0005116 by:
- Looking at the cheque leaf – IFSC is printed near the MICR band.
- Opening the passbook's first page.
- Calling the branch directly on 22-7977675763.
- Visiting the bank's official branch locator page.
Working hours
Branch counters at Palladium Lower Parel are usually open from 10 AM to 4 PM on weekdays. Saturdays follow the RBI's alternate-Saturday rule. Even when the branch is closed, NEFT, RTGS, IMPS and UPI transfers addressed to UTIB0005116 continue to work without interruption.
Branch address & contact
Axis BankPalladium Lower Parel Branch
GROUND FLOOR, SHOP NO G9 AND G10, PALLADIUM, PHOENIX MILLS COMPOUND, 462, SENAPATI BAPAT MARG, LOWER PAREL, MUMBAI
Mumbai, Maharashtra
Phone: 22-7977675763
IFSC: UTIB0005116
Frequently asked questions
Is IFSC UTIB0005116 the same for all accounts at Palladium Lower Parel branch?
Yes. The IFSC UTIB0005116 is shared by every account held at Axis Bank's Palladium Lower Parel branch. Only the account number changes from customer to customer.
What is the phone number of Axis Bank Palladium Lower Parel branch?
You can reach the branch at 22-7977675763 during regular banking hours.
How quickly will an NEFT transfer using UTIB0005116 be credited?
NEFT settles in half-hourly batches around the clock. Most transfers to Axis Bank – Palladium Lower Parel reflect within 30 minutes.
Is IFSC UTIB0005116 valid for NEFT and RTGS?
Yes. IFSC UTIB0005116 is valid for all RBI-supported electronic transfer channels including NEFT, RTGS and IMPS.
Where is Axis Bank Palladium Lower Parel branch located?
Axis Bank's Palladium Lower Parel branch is located at GROUND FLOOR, SHOP NO G9 AND G10, PALLADIUM, PHOENIX MILLS COMPOUND, 462, SENAPATI BAPAT MARG, LOWER PAREL, MUMBAI, Mumbai, Maharashtra.
What is the IFSC code of Axis Bank Palladium Lower Parel branch?
The IFSC code of Axis Bank, Palladium Lower Parel branch is UTIB0005116. It is used for NEFT, RTGS and IMPS fund transfers to this branch.
Summary
The IFSC code UTIB0005116 belongs to Axis Bank's PALLADIUM LOWER PAREL branch, located at GROUND FLOOR, SHOP NO G9 AND G10, PALLADIUM, PHOENIX MILLS COMPOUND, 462,… in MUMBAI, MAHARASHTRA. 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.
