If you are searching for the IFSC code of Indian Bank, MAGARAL branch in KANCHEEPURAM, TAMIL NADU, this page has every detail you need. The verified IFSC code for this branch is IDIB000M124. 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 MAGARAL branch, and detailed step-by-step guides for using the IFSC IDIB000M124 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.
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 Indian Bank – MAGARAL is IDIB000M124. The first four letters IDIB are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 00M124 map to this branch in KANCHEEPURAM, TAMIL NADU.
About the bank
Indian Bank serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Magaral branch in Kancheepuram, Tamil Nadu is part of this network and uses the IFSC code IDIB000M124 for all electronic settlement.
Branch details at a glance
| Bank Name | Indian Bank |
|---|---|
| Branch | Magaral |
| IFSC Code | IDIB000M124 |
| MICR Code | Refer to cheque leaf |
| Branch Address | NO170 A RAJA STREET MAGARAL VILLAGE AND POST IP ADRESS 10125282 PIN 631603 |
| City | Kancheepuram |
| District | Kancheepuram |
| State | Tamil Nadu |
| STD Code | 44 |
| Phone | 27240332 |
About the Magaral branch
The Magaral branch of Indian Bank is situated at NO170 A RAJA STREET MAGARAL VILLAGE AND POST IP ADRESS 10125282 PIN 631603. 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 IDIB000M124 is used.
Why every Indian 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 MAGARAL of Indian Bank — its own 11-character IFSC. The code IDIB000M124 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 IDIB000M124 the same way you would treat your account number — verify it once and save it carefully for future use.
Account types you can open at the Magaral branch
Once you have an account at Indian Bank – MAGARAL, the IFSC IDIB000M124 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.
Products and services
Customers walking into the Magaral branch can access most of Indian 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 IDIB000M124
How to transfer money using IFSC IDIB000M124
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 IDIB000M124 across all three.
NEFT to Indian Bank, MAGARAL using IFSC IDIB000M124
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 IDIB000M124, and confirm that the system picks up Indian Bank – MAGARAL. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.
Real-Time Gross Settlement to MAGARAL
If you need to transfer ₹2 lakh or more in one go to an account at Indian Bank's MAGARAL branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC IDIB000M124 while initiating the transfer and the credit will appear within minutes.
Send money instantly through IMPS
For a real-time, anytime transfer to Indian Bank – MAGARAL, use IMPS. With IFSC IDIB000M124 and the beneficiary's account number you can move up to ₹5 lakh per transaction with instant credit, any day of the year.
NEFT vs RTGS vs IMPS — which one should you use?
All three modes accept the IFSC IDIB000M124 for Indian Bank – MAGARAL, 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 – IDIB000M124 | Yes – IDIB000M124 | Yes – IDIB000M124 |
For most retail customers crediting the Magaral 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 Indian Bank's MAGARAL branch, the IFSC IDIB000M124 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.
Online banking and IFSC IDIB000M124
Indian Bank customers can register for net banking and the bank's official mobile app once their account at the MAGARAL 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 IDIB000M124 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 code & cheque clearing
Apart from IFSC, every cheque book issued by Indian Bank carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC IDIB000M124 and the account number together uniquely identify the Magaral branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.
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 Indian Bank – MAGARAL:
- The IFSC is exactly IDIB000M124 with no extra spaces.
- The beneficiary's account number matches what they shared, digit for digit.
- The portal auto-fills Indian Bank as the bank name and MAGARAL 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 Magaral branch sits at NO170 A RAJA STREET MAGARAL VILLAGE AND POST IP ADRESS 10125282 PIN 631603. If you are travelling from outside Kancheepuram, search for the branch on a maps application using the bank name and locality, or call 44-27240332 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 IDIB000M124 and your account number.
Other ways to verify the IFSC code
While this page already lists the verified IFSC IDIB000M124 for Indian Bank – MAGARAL, 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.
Working hours
Branch counters at Magaral 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 IDIB000M124 continue to work without interruption.
Branch address & contact
Indian BankMagaral Branch
NO170 A RAJA STREET MAGARAL VILLAGE AND POST IP ADRESS 10125282 PIN 631603
Kancheepuram, Tamil Nadu
Phone: 44-27240332
IFSC: IDIB000M124
Frequently asked questions
How do I add Indian Bank Magaral as a beneficiary?
Log in to your internet or mobile banking app, go to Add Beneficiary, enter the account number and IFSC IDIB000M124, and complete OTP verification. Once activated, you can transfer funds at any time.
Is IFSC IDIB000M124 the same for all accounts at Magaral branch?
Yes. The IFSC IDIB000M124 is shared by every account held at Indian Bank's Magaral branch. Only the account number changes from customer to customer.
Is IFSC IDIB000M124 valid for NEFT and RTGS?
Yes. IFSC IDIB000M124 is valid for all RBI-supported electronic transfer channels including NEFT, RTGS and IMPS.
Can I use IFSC IDIB000M124 for IMPS transfers?
Yes. IMPS works 24x7 and you only need the beneficiary's account number plus IFSC IDIB000M124 to send funds instantly.
What is the IFSC code of Indian Bank Magaral branch?
The IFSC code of Indian Bank, Magaral branch is IDIB000M124. It is used for NEFT, RTGS and IMPS fund transfers to this branch.
What is the difference between IFSC and MICR code?
IFSC is an 11-character alphanumeric code used for online transfers, while MICR is a 9-digit numeric code printed on cheques and used by cheque-clearing machines. Both identify the Magaral branch but serve different purposes.
How quickly will an NEFT transfer using IDIB000M124 be credited?
NEFT settles in half-hourly batches around the clock. Most transfers to Indian Bank – Magaral reflect within 30 minutes.
Where is Indian Bank Magaral branch located?
Indian Bank's Magaral branch is located at NO170 A RAJA STREET MAGARAL VILLAGE AND POST IP ADRESS 10125282 PIN 631603, Kancheepuram, Tamil Nadu.
Summary
The IFSC code IDIB000M124 belongs to Indian Bank's MAGARAL branch, located at NO170 A RAJA STREET MAGARAL VILLAGE AND POST IP ADRESS 10125282 PIN 631603 in KANCHEEPURAM, TAMIL NADU. 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.
