Saraswat Cooperative Bank IFSC and MICR Code:

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Saraswat Cooperative Bank IFSC Code:

It is easy and safe to transfer money from Saraswat Bank as it is NEFT and RTGS enabled. IFSC code is required for using the NEFT and RTGS services. This IFSC (Indian Financial System Code) consists of 11 alphabets and numbers. Each branch of bank is assigned a specific code. Out of the 11 characters, the first four characters are alphabets and denotes the name of the bank. For Saraswat Bank this would be SRCB. The fifth character of all IFSC codes is 0 as it is kept for future use. The last six characters denotes the branch and are usually numeric.

How to Search for the Saraswat Bank IFSC and MICR codes?

One can find the IFSC and MICR codes of Saraswat Bank on the official website of the bank. You can find the IFSC code printed on the leaflets of the cheque books of each branch. The government provides a complete list of all the banks in India and their IFSC codes online. This is available to anyone who looks for it. Alternatively, you could look into third party financial websites like BankBazaar to find the IFSC of the branch of bank that you need.

These are the steps to follow if you decide to use BankBazaar to find the information you require:

  • Visit BankBazaar and scroll down the homepage to find the ‘Bank IFSC Code’ tab. Click on it.
  • This will open a second window with a few drop down menus including ‘Select Bank’, ‘Select State’, ‘Select District’ and ‘Select Branch’.
  • In the ‘Select Bank’ drop down options, you must choose ‘Saraswat Bank’. You must also choose the appropriate drop down options available for ‘Select State’, ‘Select District’ and ‘Select Branch’. As soon as you select the mentioned information, the codes will be generated immediately by BankBazaar.
  • You can also choose to browse through the list of banks which are provided on the same page and find the bank manually to get IFSC and MICR codes.

Transferring money using the Saraswat Bank NEFT and RTGS services is safe and hassle-free. Money can be transferred quickly from your Saraswat Bank account to any other bank/branch as long as it is NEFT/RTGS enabled. If you are using Internet Banking facility to enter RTGS / NEFT transactions, please note that transactions entered after the cut-off time will be processed on the next RTGS/NEFT Business working day. In the unlikely event that any RTGS / NEFT transaction is not processed, the amount of the transaction will be reversed to the Originator’s Account. You may contact your respective Home Branch for further details with respect to the transaction.

National Electronic Funds Transfer (NEFT):

Saraswat Bank offers NEFT facility for their customers to transfers funds to any account in India (as long as the branch that the fund is being transferred to is NEFT enabled).

Customers can avail the service on weekdays and working Saturdays between 8.00 a.m. and 7:00 p.m. Bank Cut-off Timing is 6.30 p.m. NEFT service is done in 12 hourly settlements. You will be charged a small fee to use the NEFT service.

You will need the following information to use NEFT service at Saraswat Bank:

  • The name of the receiver
  • The name of the receiver’s bank and branch
  • The receiver’s account number
  • The IFSC code of the receiver’s bank branch
  • The amount to be transferred

Following are the Service Charges on NEFT transactions at Saraswat Bank:

NEFT transaction amount


Amounts upto 10,000

Rs 2.50 per transaction + Service tax

Amounts from 10,001 to 1 lakh

Rs 5.00 per transaction + Service tax

Amounts above 1 lakh to 2 lakhs

Rs 15.00 per transaction + Service tax

Amounts above 2 lakhs

Rs 25.00 per transaction + Service tax

Real Time Gross Settlement System (RTGS):

The RTGS service is the fastest method to transfer money. RTGS is usually used when large sums of money (above Rs. 2 lakhs) needs to be transferred. There is no upper ceiling for RTGS transactions. There is no settlement risk when you transfer money through RTGS. You will be charged a small fee for the service. There is no waiting period involved since settlements are in "real time". The transactions are settled as soon as they are processed. "Gross settlement" means that the transaction is settled on one to one basis, and it is not clustered with any other transaction. The payment taken is final and irrevocable since the money transfer takes place in the books of the Reserve Bank of India. Customers can use the RTGS services on weekdays and working Saturdays between 8:00 a.m. and 4:30 p.m.4:15 p.m. is the bank cut-off timing.

You will need the following information to use RTGS service at the Saraswat Bank:

  • The receiver’s name
  • The receiver’s bank and branch name
  • IFSC Code of the receiver’s bank
  • The transfer amount
  • The receiver’s account number
  • A remark for the receiver, if any

The following are the charges for availing the RTGS service (for outward transactions) at Saraswat Bank:

RTGS Transaction amount


Rs 2 lakhs to Rs 5 lakhs

Rs 25.00 per transaction + Service tax

Above Rs 5 lakhs

Rs 50.00 per transaction + Service tax

Based in Maharashtra, Saraswat Cooperative Bank is an urban co-operative banking institution which has been operating as a co-operative bank since 1918. It is the largest Co-operative Bank in the country. Some of the bank’s technologically advanced products include mobile banking, internet banking, international VISA EMV and RuPay chip cards, etc. Even with its rapid growth, the bank has managed to maintain the personalized service which is what has made it so popular among its customers over the years. The network of 267 branches (as on 31 March 2014) are spread in six states including Maharashtra, Madhya Pradesh, Goa, Gujarat, Karnataka and Delhi. The Bank also has ATMs at 205 locations. The Bank's business has surpassed Rs. 39,000 crores as on 31st March 2014.

News Related to Saraswat Cooperative Bank IFSC Code
  • Saraswat Bank Joins Hand with Religare Securities Limited to Launch 3-in-1 Account

    India’s leading retail broking company of Religare enterprises Limited, Religare Securities Limited has entered into a partnership with the country’s largest cooperative bank, Saraswat bank. This strategic tie-up will facilitate the launching of a 3-in-1 account comprising of online trading, demat and savings for Saraswat bank customers. Religare and Saraswat Bank both has customer centricity as the core value and is looking to create unique businesses by combining core competencies. Under this 3-in-1 account, customers will be offered savings account with demat and online trading account through a single interface. Also, Saraswat Bank is the first among all Indian co operative bank to offer online trading services. With this 3-in-1 account, the customer is guaranteed of a seamless trading experience with an interactive interface offered by Religare.

    Looking forward to opening a savings account? Check for online banking features including online fund transfer which will enable you to transfer amount to a beneficiary by mentioning the IFSC code. Also, compare other features like interest rate and value added services.

    5th September 2015

  • Saraswat Cooperative Bank to cross Rs. 50000 crore mark

    Saraswat Cooperative Bank is the largest urban co-operative bank in India. In terms of total business by the end of the fiscal year 2015-16, it is set to cross the Rs. 50000 crore mark. In the fiscal year 2015, Saraswat Cooperative Bank saw a 14% growth of Rs. 5,559 crore in its total business at Rs. 44,969 crore. The net profit increased by 29% to Rs. 190 crore and the bank declared a 15% dividend. The previous fiscal 2013-14, saw a much lower Rs. 147 crore.

    At the end of the 2015 fiscal, its advances grew by 15% to Rs. 17798 crore while its deposits saw a growth rate of 13.5% at Rs. 27171 crore. Gross non-performing assets (NPAs) saw a drop to 4.02% against 4.69% as a percentage of the total advances. Net NPAs rose to 0.67% at Rs. 115 crore compared to a zero in the last fiscal year.

    Saraswat Cooperative Bank plans on adding 20 new branches making its total number of branches reach around 290. All branch IFSC codes will be available in the near future.

    31st August 2015

  • Saraswat Bank Considers Taking a Commercial Turn

    The country’s largest cooperative bank, Saraswat Cooperative Bank, quoted that it will consider turning into a commercial financial institution after RBI panel’s recommendation to permit the big players from a sector to change the character. Presided by the RBI Deputy Governor, the High Powered Committee for Urban Cooperative Banks (UCBs) has recommended the option to give UCBs with business value of Rs.20,000 crore plus, the status of a commercial bank. The panel has also quoted that Large Multi-State Urban Cooperative Banks (MS-UCBs) with physical presence in over one Indian state, dealing in forex and participating in the payment systems and money market is important to the whole UCB ecosystem. The failure of MS-UCBs could disrupt the UCB sector and if the large UCBs are turned into commercial banks, the systemic risk could decrease as the framework and regulations are strict when it comes to commercial banks.

    Saraswat Bank offers a host of products like loans, accounts and deposits to cater to the banking needs of modern Indians. Having a knowledge of Saraswat Bank IFSC code will enable the users to perform fund transfers to and from their Saraswat bank accounts.

    22nd August 2015

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