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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:

    SBI IFSC Code

    IFSC, expanded as Indian Financial System Code, is an alpha-numerical code used during money transfer. The State Bank of India (SBI) offers various fund transfer methods such as IMPS, NEFT, and RTGS. The SBI IFSC code is an essential requirement to process these transactions. SBI will not authenticate any fund transfer if the relevant IFSC code is not provided. The Reserve Bank of India allots IFSC codes to all banks across the country.

    Each SBI branch will have a different IFSC code. The IFSC code consists of 11 alpha-numerical. The SBI IFSC code for the Church Street branch in Bengaluru is SBI007987.

    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 to Launch ‘Contactless’ Mobile Payments

      The State Bank of India (SBI) is all set to launch a new and innovative payments mechanism through which customers can make payments by simply tapping their cell phones at various retail outlets.

      A new smartphone app will be launched to allow people to process Point of Sale (PoS) transactions without having to physically present a card. This will be possible through a technology called the Host Card Emulation.

      As an alternative payment mechanism, customers of SBI use the Samsung Pay platform. SBI is ready to come out with another innovation that allows for virtualization of the card. They have also enabled payments through the Bharat QR code.

      SBI is one among the most fast growing in terms of card issuance and the SBI Card has seen a whopping growth, reaching over 50 lakh customers in a matter of around 3 years.

      14th September 2017

    • SBI Report on GDP Out

      The ‘free fall’ in GDP numbers reveals that the problem with GDP numbers is one that is structural more than it is transient, according to a research report published by SBI. The GDP of the country was expected to fall during the first quarter of the fiscal. The growth numbers dipped to 5.7%, which is a 3-year low that was seen during April - June. This was seen despite the various problems and fluctuations faced during GST launch and the simultaneous fall in manufacturing activities.

      As many as 1,695 companies and firms were taken into consideration for the research. This was done after taking into consideration the destocking in both the investment and consumer intensive sectors in the country during 2016-17. This was taken into consideration even though manufacturing destocking was also taking place. It was brought to light that many consumer intensive sectors were affected by demonatization.

      14th September 2017

    • State Bank of India to Adopt 500 Villages in Next Three Years

      Mumbai: On Monday, SBI, the India’s largest lender, announces ‘SBI Gram Seva,’ a 3-year new CRS initiative. The bank is contemplating to adopt a minimum of 500 villages in the next three years to contribute towards the development in collaboration with local non-government organizations (NGOs) and Gram Panchayats.

      There exists a gap between the services and facilities granted by the concerned governments, and this initiative bridges the gap. The primary areas of development covered under the initiative entail education, health, women empowerment, livelihood, skill development and infrastructure development.

      4th September 2017

    • SBI reduces charge for online fund transfer

      In a bid to promote a cashless Indian economy and to support the government in the ‘digital India’ initiative, State Bank of India has reviewed and reduced the charge for online fund transfers. Whether the funds are transferred through Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT), or Real Time Gross Settlement (RTGS), the charges are reduced up to 75%. The discounts are applicable for fund transfers initiated through net banking as well as mobile banking platforms. With this move, SBI can expect to see a large number of people opting for online fund transfers instead of cash exchange.

      24th July 2017

    • 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 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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