State wise list of Saraswat Cooperative Bank IFSC code, MICR code and addresses of all branches in India
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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.
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:
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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:
Following are the Service Charges on NEFT transactions at Saraswat Bank:
NEFT transaction amount |
Charges |
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 following are the charges for availing the RTGS service (for outward transactions) at Saraswat Bank:
RTGS Transaction amount |
Charges |
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.
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