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State wise list of DBS Bank IFSC code, MICR code and addresses of all branches in India
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RTGS, IMPS and NEFT are the services that DBS Bank customers can use to transfer money. Customers need to know the IFSC code to use these services. IFSC (Indian Financial System Code) is a set of codes unique for each branch of banks in India. Using ISFC code is particularly useful because the network of branches which participate in the electronic funds transfer system in India is extremely large, and the use of the code makes sure that transfers are accurate, transparent and safe.
IFSC consists of 11 characters including alphabets and digits. The first 4 characters are alphabets and denote the bank’s name. In the IFSC code of DBS Bank, this is “DBSS”. The fifth character is “0” and is saved for future use. The last six characters are usually numeric and are unique to each branch of the bank.
An example of the IFSC code for DBS would be DBSS0000001.
Finding the IFSC or MICR code of DBS Bank branches are simple. You can find them printed on the cheque leaves of cheque books issued by the branch of DBS Bank that you are looking for. These codes can be easily found online too. The complete list of IFSC codes of all branches of Indian banks are provided by the government for the use of citizens. If you look at the official website of DBS Bank you will find the IFSC codes of all its branches as well. Otherwise, you can find the required codes on third party financial websites like BankBazaar.
You can find the IFSC code and MICR code of all the banks in the NEFT/RTGS network on the BankBazaar website. All you have to do is go to the website’s main page, scroll down and click on the ‘Bank IFSC page’ tab. A second page will appear with a few drop down menus which asks you to specify the name of the bank that you’re looking for, the district and state it is located and the branch of the bank that you need. You will have to pick ‘DBS Bank’, and the other appropriate options such as the branch of DBS Bank. Once you have picked from the options in the drop down menus, the website will generate the IFSC and MICR code for the bank branch that you need. Other details of the bank like the contact details of the bank, the address etc. will also be provided to you at this stage.
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DBS Bank provides customers with the option of using NEFT and RTGS facilities to transfer funds to any account in banks which are NEFT/RTGS enabled.
National Electronic Funds Transfer (NEFT):
When money is transferred using NEFT (National Electronic Funds Transfers) facility, it is done on Deferred Net Settlements. This means that funds are transferred in groups. If the request for transfer reaches the bank before the time-frame stipulated by the bank each day, the amount will be transferred to the beneficiary on the same day. If you don’t manage to do so, the amount will be transferred the next working day.
The following information is needed to use NEFT service at DBS Bank:
The charges for outward NEFT transactions are:
|
Amount |
Charge (per transaction) for DBS ENTREPRENEUR'S |
Charge (per transaction) for DBS BUSINESS EDGE |
|
NEFT via Branch : Upto Rs. 200000 |
Rs. 2 per transaction |
Free |
|
NEFT via Branch : Rs. 200000 and above |
Rs. 10 per transaction |
Free |
|
NEFT initiated via Internet Banking |
Free |
Free |
Inward NEFT will not be charged. Outward NEFT Returns is also free of charge.
Real Time Gross Settlement System (RTGS):
Real Time Gross Settlement System (RTGS) is one of the quickest methods for transferring large sums of money. RTGS is used when the sum to be transferred is above Rs. 2 lacs. There is no upper limit to the amount. RTGS service is faster because the transfers are done on an individual basis. In other words, the clearance of funds are not done batch-wise (as it is in NEFT), but is scheduled individually. This means that the transfer of money will happen as soon as the request reaches the bank. However, this should be within the time-frame stipulated by the bank, otherwise the transaction will happen only on the following working day.
You will need the following information to use RTGS service at DBS Bank:
The charges for RTGS transactions at DBS Bank:
|
Amount |
Charge (per transaction) for DBS ENTREPRENEUR'S |
Charge (per transaction) for DBS BUSINESS EDGE |
|
RTGS Initiatied via Branch : Rs. 2 lakhs to Rs. 5 lakhs |
Rs. 10 per transaction |
Free |
|
RTGS Initiatied via Branch : Rs. 5 lakhs and above |
Rs. 25 per transaction |
Free |
|
RTGS initiated via Internet Banking |
Free |
Free |
DBS Bank Ltd was founded in 1968 by the Government of Singapore. The bank was set up as an effort by the government of Singapore to relieve the Economic Development Board of their activities of industrial financing. The bank was named The Development Bank of Singapore Limited, before it was changed in July 2003.
Not only is DBS Bank one of the larger banks in the whole of Asia, it is also the largest bank in South East Asia in terms of assets. This multinational banking company provides financial services/products like treasury and markets, securities brokerage, debit/credit cards, asset management etc.
The bank’s presence is in many countries across the globe. DBS has branches and offices in India, Thailand, Japan, Taiwan, Vietnam, Malaysia, United Kingdom, China, United States, Dubai, Hong Kong, Indonesia, South Korea, Myanmar and Philippines. In India, DBS’s commercial capital is in Mumbai. There are also 12 branches across the country including in Salem, Chennai, Nashik, Moradabad, Surat, Bangalore, Kolhapur, Cuddalore, Kolkata, New Delhi and Pune.
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Multinational financial banking firm DBS, which launched India’s first-of-its kind mobile bank account platform, will soon introduce desktop banking too.
The DBS bank account can be opened easily without the hassle of paperwork. Offering customers a zero balance account, DBS has managed to get hold of a large customer base of over 1 million in a short span of time.
The service will be made possible by the open architecture platform that will allow users to view price quotes, products and qualitative features of a wide range of products.
CEO of the bank, Surojit Shome, said that they are planning to introduce UPI payments to enable transactions through the mobile app. Since we found that the demand for desktop services were high, we have decided to launch desktop banking.
The bank has collaborated with Aviva, Tata AIA and Birla Sun Life to provide customers insurance related products. The company aims to make more tie-ups in the future. Additionally, DBS has high hopes to make it in the Indian market and will soon set up its own subsidiary branch in the country.
27th May 2017
DBS Bank India has entered into a series of new partnerships to expand its scope of business in the industry.
The two new partners acquired by the bank include Tata AIA Life and Birla Sun Life apart from the earlier Aviva India Life.
With this move, the Singapore-based bank has become the first-of-its-kind bank in the country to work with an open architecture model with as many as three insurance providers in a single platform.
Customers will now have the freedom to make their decisions with the help of the analytic driven, interactive platform. IRDA had allowed establishments to tie up with at least three insurance providers in each segment in 2015. Before this, firms could not tie-up with more than one insurance provider. However, many banks still hesitate to tie up with more than one insurer.
The bank will also work towards providing better offerings to customers in the meanwhile.
21st May 2017
DBS Singapore has launched India’s first mobile-only bank that is vouching for as large a customer base as 5 million customers. Digibank is believed to bring along a huge suite of extremely innovative technology like artificial intelligence as well as biometrics.
This new mobile-only bank will leverage extensively the Aadhar Card system developed by the Government of India and will make use of the biometric data captured for the same. New accounts can be opened on the go by reaching out to a huge network of partner outlets which include 500 cafes across the country. The idea behind choosing India first instead of China is that the required infrastructure if already in place in the country.
27th April 2016
DBS Bank, headquartered in Singapore, initiated a new completely-owned subsidiary in India last weekend. Dubbed as ‘DBS Asia Hub 2’, it has been opened in Hyderabad. In a press release to the Singapore stock exchanges, the bank informed that the first and paid-up stock capital of Asia Hub 2 is INR 70.5 crore. The chief activity of the subsidiary would be to deliver cutting edge technology-related services to the whole DBS Group. DBS has appealed to the Reserve Bank of India (RBI) to alter its offices and branches here into a solely-owned subsidiary. The bank had also applied to the controller in April 2015. Once the necessary authorizations are given, DBS would have to submit yet another request to RBI for merging of its businesses. Once they get the approval, they will be able to do the conversion. Previously, the lender had announced that by January-March quarter of this fiscal, the bank would have achieved this. Online transactions using IFSC Code is applicable here as well.
26th December 2015
With the growing acceptance of mobile banking in India, Singapore based bank, DBS has soft launched its mobile and digital banking platforms for customers recently. With the launch being done only with some clients currently, DBS would be enabling a digital ecosystem to facilitate electronic payments. India was chosen as the first market for the launch over Indonesia and China. The launch will be done at the 12 DBS branches in India, along with the inclusion of Mumbai, Chennai, Delhi, Bangalore, Kolkata and Pune. Intending to make India as an integral part of their expansion program, DBS Bank would further be establishing 60 to 70 branches after getting the required approvals from the Reserve Bank of India. DBS Bank has made this soft launch as part of its robust e-banking services provided to customers. With state-of-the-art internet banking services, introducing mobile services will add another feather to DBS’s cap. Managing bank accounts and making money transfers with IFSC codes to beneficiaries can be done without any hassles to any branch in India.
25th November 2015
DBS Bank, one of Singapore’s leading financial institutions, is planning to soft launch its online mobile platform for Indian customers soon. This platform will be revealed to a restricted audience comprising of customers from cities including Kolkata, Mumbai, Chennai, Delhi, Pune and Bangalore. Also, the bank is looking to further establish 60 to 70 offline locations over the next few months. DBS Bank had decided to evaluate its mobile platform by launching it in big countries. After China and Indonesia, India was shortlisted for the launch of mobile platform and the bank has mentioned that it is focussing aggressively on the digital space in India.
It is important to note that most of the Indian Banks offer mobile banking and Net Banking facilities to its customers. Fund transfers through Net Banking are becoming very common as customers can easily make a transaction by just mentioning the beneficiary’s account number, name and the IFSC code of concerned bank.
31st August, 2015
Would this also require IFSC Code for funds transactions? DBS, one of the biggest bank in Singapore, had commenced its operations in India, which at present boasts of over five percent of the bank’s entire loan book. Piyush Gupta, CEO at DBS Group Holdings Ltd and DBS Bank Ltd, has plenty to say on the subject as well as the guts to get it done. It has approached the Reserve Bank of India (RBI) with a proposal for indigenous assimilation even as its grander peers in the country have been contemplating this for around a decade. In 2005, RBI set down the road map for overseas banks in India for the first time. After this, a discussion paper was circulated on replicating their contact with the Indian banking organization.
24th August, 2015
