A few months ago, I even had this query whether the CIF number and IFSC code are same. I researched about it and found no, the CIF or Customer Information File number and IFSC or you can call it Indian Financial System Code are not the same. Both serve different purposes in banking and financial transactions.
Is CIF Number and IFSC Code Same?
No. There are differences between them.
CIF:
Customer Information File number is a unique number assigned to each customer by a bank. It is linked to all accounts a customer holds in the same bank. It contains personal details, account history, loan details, KYC information, and transaction history.
CIF numbers are usually 8 to 11 digits long and can be found in passbooks, account statements, or via net banking.
Each bank assigns a unique CIF number to its customers, but it remains the same even if multiple accounts are held with that bank.
IFSC:
IFSC is an 11-digit alphanumeric code used to identify specific bank branches in India. It is mandatory for electronic fund transfers via NEFT, RTGS, and IMPS.
The first 4 characters represent the bank, the 5th character is 0 (zero), and the last 6 characters denote the branch code.
Example: SBIN0001234, where "SBIN" represents State Bank of India, and "001234" is the branch code.
Both numbers are essential for banking, but CIF helps manage customer information, while IFSC facilitates online transactions. I hope you found this helpful.
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Is CIF Number and IFSC Code Same?
yogesh17
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2 months
2025-03-04T08:45:35+00:00 2025-03-04T08:45:40+00:00Comment
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