Zinc-iron alloy electrodeposits have industrial significance, since they provide better corrosion resistance and with improved mechanical properties when compared to pure zinc coatings. This is due to the unique phase structure of the alloy formed. But this deposition belongs to anomalous deposition, where the electrochemically less noble zinc deposits more preferentially, than the more noble iron. So the industrial process control over the deposition becomes difficult. So, this study correlates the effect of various deposition parameters over the deposition kinetics and deposited alloy characteristics. Transition and partial current densities were computed. Effect of hydrogen overpotential and surface coverage due to the adsorbed intermediates over anomalous deposition were explored. Plausible deposition mechanism and mathematical model was proposed to predict the anomalous electrodeposition characteristics. Textural, morphological and phase structural characteristics of the alloy was investigated. By the substitution of iron in the hcp lattice, c/a ratio was lowered and the lattice geometry was distorted. Intermetallic compounds of variable composition such as FeZn₁₄, Fe₅Zn₃₃, Fe₃Zn₁₃ and FeZn₃ with `𝜂' and `𝛤' phase structures were noted. Electrodeposition parameters were optimized and smooth, adherent, strain-free deposits with required iron content and hardness were obtained.