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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

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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.

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
  • SBI retains tag for ‘Too Big to Fail’

    The reserve Bank of India retained the tag for SBI as a bank that is ‘Too Big to Fail’. This does not necessarily mean that the banks won’t ever fail but signifies that it would spell impending economic unrest if they happen to fail. Last year the RBI named SBI as a bank that is domestic systemically important (D-SIB). Due to the tag given to it by RBI, SBI will have to maintain an additional amount of capital which amounts to 0.6% of the bank’s loans and investments. The capital to be maintained should be kept in the form of common equity tier-I capital.

    26th August 2016

  • SBI Merger with Subsidiaries to Be Completed By April 2017

    The State Bank of India (SBI) is expected to finish merging with its subsidiaries by April 2017. The process was set in motion in May this year.

    The migration of employees, accounts, IFSC codes, data and systems from the subsidiaries – State Bank of Mysore, State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Travancore and State Bank of Hyderabad – to the parent SBI will begin in October after the government approves the proposal.

    An SBI official said this is likely to be the fastest banking merger in Indian history. The SBI servers are already being prepared to receive data of about 100 million customers from its subsidiaries. Once the merger is done, SBI will be a mammoth, with an asset base of Rs.37 lakh crore, 25,000 branches and 58,000 ATMs. This is 5 times the size of ICICI Bank, India’s largest private bank.

    4th August 2016

  • SBI Buddy Partners With IRCTC, Aditya Birla Group

    Now customers of IRCTC and Aditya Birla Group can make payments using their State Bank of India wallet SBI Buddy. The bank partnered with these two merchants as a prelude to expansion of its wallet services to over 2,500 educational institutions, government entities and public services.

    State Bank of India has also joined hands with top brands including Louis Philippe, Van Heusen, Allen Solly and Peter England, who all will now allow payments to be made at their stores across the country through SBI Buddy. Retail services of the wallet will be extended soon.

    SBI Buddy, unveiled in August 2015, allows customers to pay to the merchants directly. Money can be added to the app through debit card, netbanking using IFSC or IMPS transfer. Money can also be transferred to your phone or social networking contacts.

    25th July 2016

  • SBI unveils Buddy App (Mobile Wallet) For Easy Payments

    State Bank of India has introduced their own mobile wallet named Buddy in association with IRCTC. This is a government initiative backed by the Indian Railways and Madura Fashion (a subsidiary of Aditya Birla Group). Even non-customers may utilize but only up to a transaction limit of INR 10,000 per day, while KYC account holders enjoy a transaction limit of up to INR 1 lakh on a daily basis. All premier trading brands can use this for billing as it has a prolific network of 3.45 lacs SBI-supported PoS.

    23rd July 2016

  • SBI to pay legal costs for retired personnel

    This move also ensures monetary protection for former employees who took key decisions in official capacity when they were on the rolls of the bank. A section of the retired staff continue to fight legal battles with defaulters across the country. The bank will take into account, all types of legal expenses incurred and includes travel costs as well.

    This move also ensures monetary protection for former employees who took key decisions in official capacity when they were on the rolls of the bank. A section of the retired staff continue to fight legal battles with defaulters across the country. The bank will take into account, all types of legal expenses incurred and includes travel costs as well.

    23rd July 2016

  • SBI Mingle – a Social Media Banking Platform by SBI

    The State Bank of India has launched a social media banking platform called SBI Mingle, for Facebook and Twitter users.

    Launched by the bank’s Chairman, Arundhati Bhattacharya, SBI Mingle is intended to offer an innovative digital banking experience to its millennial customers. Customers of the bank will be able to access various banking services through Mingle. To be able to use this platform, customers will have to register for it using their ATM/Debit Card details or social account number. Services such as mini statement, balance enquiry, funds transfer using IFSC code, as well as beneficiary management services can be availed by Facebook users. Twitter users can use hashtags to view mini bank statements and find their account balances.

    7th July 2016

  • State Bank of India Launches Digital Villages in Madhya Pradesh

    SBI has launched its ambitious Digital Village project under the Digital India vision in Ratnapur and Lambakheda villages near the capital city of Bhopal, making them the first digital villages adopted by the bank under this scheme.

    This project aims to digitize villages by providing them with a host of tech aided services such as Net Banking, Cash deposit Machines and other state of the art gadgets to make banking cashless as much as possible. The bank will also carry out a host of CSR (Corporate Social Responsibility) initiatives to improve the living standards of people residing in these villages. SBI aims to adopt a little over 100 villages by FY 2017 under this ambitious program to fulfill the vision of the central government.

    2nd July 2016

  • State Bank of India Launches New Promos in the Online Space

    In the backdrop of 61st State Bank Day on July 1, country’s leading banking giant launched three new offerings in the online space for customers. In a one of its kind partnership, SBI has tied up with Flipkart to offer pre-approved EMI facility for pre-qualified customers for a minimum purchase value of Rs.5,000.

    On the sidelines, the bank also commissioned SBI Mingle, an online platform for Twitter and Facebook users where basic banking services can be availed by customers using their accounts. Users can use social media platforms to check account balance and request statements. It also launched a new digital initiative which aims to transform the adopted 21 villages into a system where there is little movement of cash. The bank aims to include over 100 villages under this program by the end of FY 2017.

    1st July 2016

  • BSNL and SBI to Join Hands in Launching ‘SpeedPay’

    BSNL (Bharat Sanchar Nigam Ltd.) and SBI (State Bank of India) are coming together to introduce an online wallet ‘SpeedPay’. An online wallet is a prepaid instrument used to purchase goods or avail services from merchants who accept cards. It can also be used to send cash to other people’s wallet, which can then be used to draw money from a bank. While BSNL is at 8.48 crore wireless subscribers and more than 1.47 wireline subscribers, SBI has over 13,000 branches offering NEFT and RTGS facilities where electronic fund transfers can be carried out using IFSC codes.

    Both BSNL and SBI intend to contact their respective nodal ministries in order to enable disbursement of subsidies through the wallet, under the DBT (Direct Benefit Transfer) scheme. According to an executive at BSNL, ‘SpeedPay will be launched within a fortnight or a month and will be available for use anywhere within the country. BSNL has also launched a wallet with Andhra Bank, however the reach was limited to only Telangana and Andhra Pradesh.

    23rd May 2016

  • Transfers in SBI Buddy Wallet now chargeable

    Customers using SBI’s Buddy Wallet will now be paying a fee for bank transfers. A circular released by the bank said that 3% service charge plus tax will be levied on wallet-to-account transactions, done through IMPS. These rates will be effective from June 01, 2016.

    The charges for NEFT and RTGS have also been revised and service charge will be applicable. Here are the rates for these NEFT transactions:

    • Transfers below Rs 10,000 - Rs 2
    • For transfers above Rs 10,000 and below Rs 1 lakh - Rs 4
    • Transfers between Rs 1 lakh to Rs 2 lakh - Rs 12
    • Above Rs 2 lakh - Rs 20

    The RTGS transfers will be charged as follows:

    • Rs 2 lakh to Rs 5 lakh - Rs 25
    • Transactions above Rs 5 lakh - Rs 45

    10th May 2016

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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