IFSC Code of FINO Payments Bank, Palamu Branch, Jharkhand

Use this page as a one-stop reference for everything related to FINO Payments Bank's PALAMU branch in PALAMU, JHARKHAND. The branch's IFSC code FINO0001589 is the key identifier you need whenever a remitter, employer or biller asks for a bank routing number to send funds to an account held at this branch. We have also included the branch's postal address, telephone number, banking hours, common services, and an extensive FAQ block that should answer almost every question that comes up when you are about to add this branch as a beneficiary in your net-banking app for the first time.

The Indian Financial System Code, popularly known as IFSC, is an 11-digit alphanumeric code that the RBI assigns to every bank branch participating in online interbank settlement. Without this code, an electronic transfer simply cannot reach its destination branch.

The IFSC for FINO Payments Bank – PALAMU is FINO0001589. The first four letters FINO are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 001589 map to this branch in PALAMU, JHARKHAND.

Bank profile

FINO Payments Bank is among the recognised banks listed on the Reserve Bank of India's payments network. The Palamu branch — IFSC FINO0001589 — extends the bank's services to customers in and around Palamu, Jharkhand.

About this branch

The branch is located at C O BRAJ BIHARI KARAN , BDPC , KARAN COMPLEX , NEAR ZILA SCHOOL CHOWK GOPIGANJ, DALTONGANJ-822101. It serves the Palamu region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of FINO Payments Bank. The IFSC FINO0001589 is used to identify this branch on the RBI payments network.

Branch details at a glance

Why every FINO Payments Bank branch has a unique IFSC

Before electronic settlement systems went live in India, money transfers between banks relied heavily on demand drafts, mail transfers and telegraphic transfers. These older instruments routinely took days to clear and were prone to misrouting because there was no single machine-readable identifier for a branch. The Reserve Bank of India solved this by issuing each participating branch — including PALAMU of FINO Payments Bank — its own 11-character IFSC. The code FINO0001589 is therefore not just an internal reference; it is the digital postcode that lets the RBI's NEFT, RTGS and IMPS rails route funds straight to the right branch ledger without any human intervention.

Today, almost every salary credit, vendor payment, refund and EMI deduction in the country flows through this network, which is exactly why a correct IFSC matters so much. A wrong character can either bounce the transfer or send it to the wrong branch, and reversing such a credit is a manual, time-consuming process. Treat IFSC FINO0001589 the same way you would treat your account number — verify it once and save it carefully for future use.

MICR code & cheque clearing

Apart from IFSC, every cheque book issued by FINO Payments Bank carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC FINO0001589 and the account number together uniquely identify the Palamu branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

How to transfer money using IFSC FINO0001589

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 FINO0001589 across all three.

How to use IFSC FINO0001589 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to FINO Payments Bank's PALAMU 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).

1. Log in to your internet banking or mobile banking app.
2. Choose Add Beneficiary and select NEFT / Other Bank.
3. Enter the beneficiary name, account number and the IFSC FINO0001589.
4. Confirm the bank name auto-populates as FINO Payments Bank and the branch as PALAMU.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

RTGS transfers via IFSC FINO0001589

RTGS (Real-Time Gross Settlement) is the fastest high-value transfer mechanism in India. It is meant for transfers of ₹2 lakh and above and settles each transaction individually and instantly. To remit through RTGS to FINO Payments Bank – PALAMU, ensure your bank's portal accepts IFSC FINO0001589 while registering the beneficiary. RTGS is also available 24x7.

IMPS to FINO Payments Bank PALAMU (IFSC FINO0001589)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC FINO0001589 in your mobile or internet banking app, and the money is credited to the PALAMU branch account within seconds.

NEFT vs RTGS vs IMPS — which one should you use?

All three modes accept the IFSC FINO0001589 for FINO Payments Bank – PALAMU, 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.

For most retail customers crediting the Palamu 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 FINO Payments Bank's PALAMU branch, the IFSC FINO0001589 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.

Products and account variants supported

Every account opened at the Palamu branch is mapped to IFSC FINO0001589 on the RBI payments network. The branch generally supports the full retail product catalogue of FINO Payments 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 FINO0001589.

Products and services

Customers walking into the Palamu branch can access most of FINO Payments Bank's standard product suite, including:

• Account opening – savings, current, NRI, salary
• Term deposits and recurring deposits
• Retail and small-business loans
• Insurance and mutual-fund tie-ups
• Locker, safe deposit and ATM card services
• Online and mobile banking activation
• Electronic transfers via IFSC FINO0001589

Digital banking channels

Most day-to-day work that customers used to do at the Palamu 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 FINO0001589 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.

Reaching the branch

The Palamu branch sits at C O BRAJ BIHARI KARAN , BDPC , KARAN COMPLEX , NEAR ZILA SCHOOL CHOWK GOPIGANJ, DALTONGANJ-822101. If you are travelling from outside Palamu, search for the branch on a maps application using the bank name and locality, or call 6203082199 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 FINO0001589 and your account number.

Common mistakes to avoid when using IFSC FINO0001589

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 FINO Payments Bank – PALAMU, 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: FINO0001589.
• 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.

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 Palamu branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC FINO0001589, however, work 24x7.

Other ways to verify the IFSC code

While this page already lists the verified IFSC FINO0001589 for FINO Payments Bank – PALAMU, you can cross-check the code from any of these sources before initiating a high-value transfer:

• The front of the cheque book issued by the branch – the IFSC is printed at the top of every leaf.
• The first page of your passbook.
• The bank's official website under the branch locator.
• The Reserve Bank of India's IFSC search portal.
• Net banking dashboards usually display the home-branch IFSC under account details.

Branch address & contact

Frequently asked questions

Final notes

To recap: FINO0001589 is the IFSC code of FINO Payments Bank, PALAMU branch, in PALAMU, JHARKHAND. It is required for every electronic transfer to an account held at this branch. We keep this page updated with the latest address and contact details, so you can rely on the information here for your day-to-day banking needs.