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SBI IFSC and MICR Code:

State wise list of SBI IFSC code, MICR code and addresses of all branches in India

Locate any details of SBI branch in India.

or Choose State from list below


State Bank of India (SBI) IFSC Code:

The transformation from barter system to electronic money transaction hasn’t been a smooth one. It has certainly revolutionized the way people transfer money. To this effect, the Reserve Bank of India (RBI) has introduced three modes of fund transfer. They are National Electronic Fund Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS). Every one of these portals utilize IFSC (Indian Financial system Code) to enable swift and safe transactions from one bank to the other. Serving a multitude of functions, it mainly helps to distinguish the sender and receiver bank in the event of a transaction. And all the banks are allotted an IFSC Code by RBI.

SBI IFSC Code

The IFSC is an 11-digit alpha-numeric code which is allocated to each bank branch contributing in the NEFT network. It entails three parts - first four characters identify the bank name, fifth character is always 0 (keeping in mind the future expansion) and the last six characters denote the branch address.

Given below is an example of an SBI IFSC code:

The SBI IFSC code for the Church Street branch (in Bangalore) is ‘SBIN0007987.’, wherein the first four characters, ‘SBIN’, stand for the name of the bank, the fifth character is always zero for future use and the final six characters specify the exact branch address.

Credit Card

How to Search for SBI Bank IFSC and MICR Codes?

If you are searching for the IFSC code of your home branch, you can find that printed on your cheque book, provided to you by the bank. If you’re looking for an IFSC code or MICR Code of SBI branch, you can easily find them online, not only on the official website of SBI, but also some third party financial websites and other fiscal comparison website portals.

BankBazaar is one such comparison website that provides information on the IFSC codes for SBI Bank. On the BankBazaar main page, go to the bottom of the page you can find the link titled ‘Bank IFSC Code’. Click on the link and you will be taken to another page which shows 4 drop down menus. You have to select the particular bank that you’re looking for, the state, district and the particular branch whose IFSC code you’re looking for. Once you have selected your options, the site will display not only the IFSC code for the particular branch but also the MICR code, address and contact number for the branch.

SBI offers numerous means to make worry free and safe fund transactions, not only to other SBI Bank branches but also to any other bank branch in the country. Clients can conveniently make use of NEFT, RTGS and IMPS for this purpose.

National Electronic Funds Transfer (NEFT):

SBI introduces e-Monies National Electronic Funds Transfer, an electronic fund transfer facility which allows for easy, hassle free and convenient money transfer. NEFT transactions done at the branch do not have any maximum transaction limit. However, for net banking transactions, the daily limit has been fixed from Rs 1 and up to Rs 10 lakh. For NEFT transfers done online or at the branch, the bank follows a set schedule of timings.

Real Time Gross Settlement (RTGS):

RTGS or Real Time Gross Settlement is another quick method of money transfer where the transfers are done in real time. RTGS transactions have faster settlement cycles with the absence of inter-bank or clearing house settlement issues. Also, these transactions are not limited to the geographical boundaries of India. There are no transaction limits for transaction done via the branch.

Immediate Payment Service (IMPS):

IMPS (Immediate Payment Service) is another swift bank-to-bank electronic fund transfer service, offered by SBI. With IMPS, customers can easily send or receive funds, not only on weekdays but Sundays and bank holidays as well. As the name suggests, via IMPS transfers, the money gets credited to the receiver’s account within minutes.

The lowest and uppermost sum for RTGS / NEFT transactions under Retail Internet Banking:

Type

Minimum

Maximum

RTGS

INR 2 lacs

INR 5 lacs

NEFT

No Minimum

INR 5 lacs


The lowest and uppermost sum for RTGS / NEFT transactions under Corporate Internet Banking:

Minimum / Maximum amount for RTGS / NEFT transactions under Corporate Internet Banking

Type

Minimum

Maximum

RTGS

INR 2 lacs

INR 50 lacs for Vyapaar (trade) and

INR 500 crores for Vistaar

NEFT

No Minimum

INR 50 lacs for Vyapaar (trade) and

INR 500 crores for Vistaar


RTGS/ NEFT/ ECS Fees & CHARGES

S. No.

Items

Transaction Slab

Charges

1.

NEFT

Up to INR 10,000

INR .2.50

Up to INR 1 lakh

INR 5

Between INR 1 lakh & INR 2 lacs

INR 15

More than INR 1 lakh

INR 25


RTGS Customer Transactions:

Time of settlement at the RBI

Transaction Slab

Charges

From

To

09.00 Hours

12.00 Hours

Between INR 2 lacs & INR 5 lacs

INR 25

More than INR 5 lacs

INR 51

Post 12.00 Hours

15.30 Hours

Between INR 2 lacs & INR 5 lacs

INR 26

More than INR 5 lacs

INR 52

Post 15.30 Hours

16.30 Hours (Monday to Friday)

Between INR 2 lacs & INR 5 lacs

INR 31

More than INR 5 lacs

INR 56


RTGS Inter-Bank Transactions:

Time of settlement at the RBI

Transaction Slab

Charges

From

To

09.00 Hours

12.00 Hours

Between INR 2 lacs & INR 5 lacs

INR 25

More than INR 5 lacs

INR 51

Post 12.00 Hours

15.30 Hours

Between INR 2 lacs & INR 5 lacs

INR 26

More than INR 5 lacs

INR 52

Post 15.30 Hours

16.30 Hours (Monday to Friday)

Between INR 2 lacs & INR 5 lacs

INR 31

More than INR 5 lacs

INR 56


Information Required for Funds Transfer using any Payment Mode:

While making a NEFT or RTGS transaction with State Bank of India, customers need to provide the below information:

  • Remittance Amount
  • SBI Bank customer’s account number
  • Beneficiary’s bank name
  • Beneficiary’s name
  • Beneficiary’s Account number
  • Sender to receiver information
  • IFSC code of the beneficiary’s bank branch

As a premier financial institution, State Bank of India was originally established in 1808 as ‘Bank of Calcutta’. State Bank of India is an Indian international, Public Sector investment and banking service organization. It is a state-owned establishment and is headquartered in India’s city of dreams, Mumbai. As per the statistics appraised by December 2013, its assets amounted to over USD 388 billion and 17,000 offices peppered across the country. It also has 190 overseas branches and is the biggest finance services firm in India. It is now ranked among the top three banks in India along with ICICI, Punjab National Bank and Bank of Baroda. SBI offers a wide spectrum of banking services and products comprising of personal banking, agricultural banking, NRI services, international banking and corporate services to a diverse clientele.

News Related to SBI IFSC Code
  • Bad credit: SBI feels the painful pinch

    The State Bank of India (SBI) will feel the pinch in this financial year because of the special provisions that the institution has to make to cover up for bad assets.

    The resolution towards bad credit is likely to happen this year. Speaking to the media, Arundhati Bhattacharya, Chairman, SBI, said that in FY18 the bank will have to bear the brunt due the the high costs of resolution of credit. The bank will have to make a provision towards this end. She was addressing the media after the fourth quarter results of the bank was declared.

    She remained positive that things will be better in the next financial year but warned that resolutions do need dispensation.

    SBI saw a 122% rise in net profit in the fourth quarter. The net profit stood at Rs.2815 crore, while the provisions for bad credit saw a sharp fall by 9% to Rs.10,993 crore and standard loans also fell by a whopping 70% to Rs.289 crore. The has made provisions to the tune of Rs.1,700 crore, which is more than the required amount.

    19th May 2017

  • SBI to organise hackathon, participants invited

    Registrations are open for the SBI National Hackathon - ‘Code for Bank’. Organised by the State Bank of India (SBI) in association with the Collaborative Innovation Centre (CIC), the hackathon will be on an API Hackathon Platform targeting developers, students and startups.

    The aim is to encourage new ideas and solutions in the banking sector. The focus of the hackathon will be on technologies such as predictive analytics, robotics process automation, BOTS, IoT, artificial intelligence, digital payments, blockchain, predictive analytics and fintech.

    Those interested are welcome to register on or before May 29th. The hackathon will commence on June 6 and end on June 20. A team should have 5 people and each team can work on developing applications or cutting-edge solutions using SBI APIs.

    The hackathon will hopefully bring in a lot of innovative and creative solutions. This is the the first time SBI is creating a public event like a hackathon.

    The teams that emerge victorious will get the opportunity to further develop solutions and collaborate on IP.

    25th May 2017

  • State Bank of India will levy a penalty for not maintain an average monthly balance

    The saving account holders of State Bank of India (SBI) have been notified regarding the maintenance of minimum average monthly balance in order to avoid the applicable penalty charges. The bank has already sent notifications to the customers who have less than the required amount in their bank account to adhere to the bank’s policy when it comes to maintaining the minimum required monthly balance. The shortfall to meet the required amount will attract a penalty fee as prescribed by the bank. The customers have been given time till the end of this month to restore the account balance. The bank has categorized the bank accounts based on the location of the branch under rural, semi-urban, urban and metro regions. Each region has their own specific required monthly average balance that the customer is expected to meet, failing to restore the account balance will attract a fee in as prescribed by the bank. The bank has also advised the customers to review their bank account periodically in order to avoid the charges.

    9th May 2017

  • SBI will charge a fine on savings bank account for not meeting the average monthly balance

    If you hold a savings bank account in State Bank of India (SBI), you will need to maintain the average monthly balance as prescribed by the bank. If you fail to maintain the average monthly balance, SBI will charge a fine depending on the type of the account. This announcement came out recently after the merger of SBI with various other banks. The bank has advised the account holders to maintain a monthly average balance by reviewing their account periodically. The review can help the account holder determine how much balance should be maintained to avoid the penalty charges.

    27th April 2017

  • SBI to complete merger very soon

    The State Bank of India (SBI), one of India’s largest Credit Card issuers has launched its latest Credit Card, SBI Card Unnati, to encourage cashless transactions in an effort to boost India’s drive towards a digital economy. SBI Card Unnati is targeted towards all SBI customers, Jan Dhan account holders and first time borrowers who have no credit history. The lack of credit history has been a hindrance to Credit Card penetration in the country, this card will allow first-time users to access a line of credit, which will help bring them into an organized financial system and will reduce their future cost of borrowing. Any SBI savings account holder with a savings balance of Rs.25,000 can apply for the SBI Card Unnati. The applicant will require to submit the KYC document online and provide the details of his/her savings account. SBI Card Unnati has various features which can be beneficial to a customer.

    The main features of the card have been listed below:

    • rewards point for every Rs.100 spent
    • Reward points may be redeemed for products from the exclusive Rewards Catalogue
    • Zero annual fee for 4 years
    • Annual spending of Rs.50,000 will earn a Rs.500 cashback
    • Fuel surcharge waiver across petrol pumps in India
    • Large spends can be converted in short-term loans

    29th March 2017

  • SBI to complete merger very soon

    India’s premier lender, State Bank of India (SBI) will begin the merger process of five of its associate banks and the Bharatiya Mahila Bank (BMB) on April 1st, and is expecting to complete the merger in three months’ time. The merger will be undertaken in phases, the first phase will see the data of the six banks being integrated and the issuance of new passbooks and cheque books. Approximately, 1,500 branches will be closed post-merger to avoid duplication, the branches could be of SBI or of any of the associate banks, depending on their location. SBI has received approval for the merger of State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Patiala (SBP), State Bank of Hyderabad (SBH) and BMB.

    After the merger is completed SBI is expected to become one of the world’s largest lenders, with an asset base of approximately Rs.37 trillion, 22,500 branches and 58,000 ATMs. The bank is also expecting to grow its customer base to over 50 crore.

    SBI approved a merger plan with State Bank of Bikaner & Jaipur (SBBJ), which will give 28 shares of SBI at Rs.1 for every 10 shares in SBBJ at Rs.10 each. Similarly, State Bank of Mysore and State Bank of Travancore customers will receive 22 SBI shares for every 10 shares held by them.

    28th March 2017

  • SBI to complete merger very soon

    India’s premier lender, State Bank of India (SBI) will begin the merger process of five of its associate banks and the Bharatiya Mahila Bank (BMB) on April 1st, and is expecting to complete the merger in three months’ time. The merger will be undertaken in phases, the first phase will see the data of the six banks being integrated and the issuance of new passbooks and cheque books. Approximately, 1,500 branches will be closed post-merger to avoid duplication, the branches could be of SBI or of any of the associate banks, depending on their location. SBI has received approval for the merger of State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Patiala (SBP), State Bank of Hyderabad (SBH) and BMB.

    After the merger is completed SBI is expected to become one of the world’s largest lenders, with an asset base of approximately Rs.37 trillion, 22,500 branches and 58,000 ATMs. The bank is also expecting to grow its customer base to over 50 crore.

    SBI approved a merger plan with State Bank of Bikaner & Jaipur (SBBJ), which will give 28 shares of SBI at Rs.1 for every 10 shares in SBBJ at Rs.10 each. Similarly, State Bank of Mysore and State Bank of Travancore customers will receive 22 SBI shares for every 10 shares held by them.

    28th March 2017

  • BMB-SBI merger April 1st

    In an effort to ensure greater outreach of banking services to women, Bharitya Mahila Bank (BMB) will merge with the country’s largest lender State Bank of India on April 1st. The undertaking of BMB, as it stood immediately before the effective date shall, without any further act, deed or instrument, stand transferred to and vest in SBI. Every permanent or regular officer or permanent or regular employees of BMB immediately before the effective date will become an employee of SBI. This merger with a paid-up capital of Rs.1,000 crore is done three years after the formation of BMB. The merger has been approved by the Union Cabinet. The SBI group already has 126 exclusive all-women branches across the country, while BMB has 7. BMB has extended loans worth Rs.192 crore to women borrowers in the past three years, whereas, SBI has extended loans worth Rs.46,000 crore to women borrowers. The Union Cabinet has also approved the amalgamation of five associate banks of the SBI with the parent bank, this will also begin on April 1st, it will be part of the largest consolidation exercise in Indian banking history. This merger will position SBI to become a lender of global proportions, with a total asset base of Rs.37 lakh crore, 22,500 branches and 58,000 ATMs. It will have a 50 crore-strong customer base.

    21st March 2017

  • State Bank of India (SBI) signs MoU to work together with CREDAI

    State Bank of India (SBI) has signed a memorandum of understanding (MoU) with Confederation of Real Estate Developers' Associations of India (CREDAI) to conduct various initiative towards the development of realty sector in India. With a vision to provide housing for all, the MoU will be in effect for a period of three years. SBI is one of the largest banks in India, with the largest real estate association - CREDAI, they will work towards conducting seminars, campaigns, exhibitions, etc. to improve the realty sector. The MoU aims at ensuring housing for all with a common objective of affordable housing for all. This collaboration is speculated at introducing housing finance at lower interest rates that will enable CREDAI to make housing more affordable.

    15th February 2017

  • New Avatar for SBI Website

    The State Bank of India recently announced that its official website is rebranded as bank.sbi. In an official statement, the bank said that bank.sbi – its new domain name is the uppermost domain protocol called gTLD (generic top level domain). The State Bank of India has a number of businesses, said the General Manager of the company’s Social Media team, adding that individuals who wish to use the services of the bank or want information regarding the bank can find it simpler to just type www.bank.sbi. The State Bank of India group has established its presence in card, mutual fund and insurance, and each of these sections may also adopt such gTLD. SBI, with the use of the new domain, is the first financial institution in the country to grace its online presence with a gTLD.

    20th February 2017

SBI Mangalagiri Bazar Branch SBI Dwarakapuri Punjagutta Branch SBI Sripuram Branch Hyderbad
SBI District Collector Office Prakasam Bhavan Branch SBI Andhra Pradesh Grameen Vikas Bank RRB Branch SBI Mahabubabad Branch
SBI Mahua Branch SBI Sector 30 Chandigarh Branch SBI Smriti Nagar Bhilai Branch
SBI AIIMS Raipur Branch SBI Central Market Lajpat Nagar Delhi Branch SBI Chandni Chowk Branch
SBI New Ashok Nagar Delhi Branch SBI Sme Law Garden Branch SBI Civil Hospital Road Branch
SBI Huda Complex Rohtak Branch SBI Bashattihalli Indlestate Branch SBI Koramangala Branch
SBI Pbb Koramangala Branch SBI Racpc Whitefield Branch SBI Haripad Branch
SBI Thiruvannur Kozhikode Branch SBI Sadar Jabalpur Branch SBI Chinchwad Pune Branch
SBI Ambajogai Road Latur Branch SBI Bajaj Nagar Nagpur Branch SBI Ashok Nagar Branch
SBI Indira Nagar Nasik Branch SBI G S Road Evening Branch SBI Rourkela Township Branch
SBI Pondicherry Town Branch SBI Army Cantt Area Jodhpur Branch SBI Anna University Branch
SBI Hasthinapuram Branch SBI Racpc Mrc Nagar Chennai Branch SBI Zam Bazaar Branch
SBI Saibaba Colony Branch SBI Cumbam Adb Branch SBI Palani Branch
SBI Vandalur Branch SBI Lady Doak College Madurai Branch SBI Voc Nagar Branch
SBI Thennampalayam Branch SBI Cheyyar Branch SBI Ulunderpet Branch
SBI Purvanchal Gramin Bank Branch SBI Khadra Branch SBI Shastri Nagar Meerut Branch
SBI Rajiv Gandhi South Campus Bhu Barkachha Branch SBI Salt Lake Ac Block Branch


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