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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.

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    State Bank of India ( SBI ) IFSC Code

    SBI IFSC Code

    SBI IFSC code is a 11-digit code which is used to identify a bank branch for electronic transactions like NEFT, RTGS & IMPS. It is alphanumeric code is different for each bank branch of a particular bank. For example, the SBI IFSC code for the Airport Road branch is SBIN0020852 while for the Bommasandra branch the code is SBIN0021745.

    In the 11-digit code, the first four letters ‘SBIN’ stands for the name of the bank i.e., State Bank of India. The next character ‘0’ is for future reference while the remaining six characters represent the specific branch code of the said bank.

    It needs to be mentioned that IFSC (Indian Financial System Code) is required by individuals to transfer money using options like NEFT, RTGS, IMPS as well as through internet banking. For seamless funds transfer, quoting the correct IFSC code is mandatory.

    Here, we have compiled the IFSC codes of a couple of branches of State Bank of India in Bangalore (Urban). An individual can find it in the table listed below:

    IFSC Code SBIN0020852 SBIN0021615
    Remittance Services NEFT NEFT
    Mode of payment Cash, Cheque, Demand Draft and Net Banking Cash, Cheque, Demand Draft and Net Banking
    Open Hours(Monday to Saturday)  10:00 am to 4:00 pm 10:00 am to 4:00 pm
    Bank Details State Bank of India Airport Road State Bank Of India Attibele

    SBI recently revised IFSC codes of some of its branches after a merger deal that it got into, as part of which it joined hands with 5 associate banks and 1 other bank. As part of this process the bank updated the financial system code of around 1,300 branches on the whole. The new IFSC codes can be found here by entering the bank, branch name and other details in the drop down window.

    Indian Financial System Code, abbreviated IFSC, is a key that is made up of both letters and numericals. This set of characters is mandatory for fund transfers from one bank account to another. It is very important to get the right IFSC from the payee. This code is assigned to all banks by the Reserve Bank of India (RBI) to streamline the fund transfer process in India.

    How to Search for SBI IFSC and MICR Code

    SBI FUND Transfer Methods
    SBI NEFT
    SBI UPI (SBI PAY)
    SBI IMPS
    SBI YONO APP

    If an individual is looking for the IFSC and MICR code of State Bank of India, he/she can find it printed on the cheque book provided by the bank. It can also be found 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.

    MICR stands for Magnetic Ink Character Recognition and is used to verify the originality of paper documents especially cheques to ease the process involved in the processing and clearance of it.

    Revised SBI IFSC Code After Rationalization

    The State Bank of India (SBI), one among the largest public sector banks in India, is carrying out the step-by-step process of rationalization after the bank merged with a couple of other banks in the early half of 2017. This process is almost complete now.

    As part of rationalization, as many as 125 branches have been moved to other places and bank employees have also been deployed accordingly. In some cases, the merged banks have been absorbed by other SBI branches. Changes have also been made accordingly to the IFSC codes of the concerned branches.

    On the other hand, SBI rationalised as many as 1000 branches on the whole around April to September 2017 after the merger with 5 associate banks and Bharatiya Mahila Bank.. Check List of Bank with new IFSC CODE.

    This change in IFSC codes is because SBI merged with a few of its associate banks. The banks include State Bank of Mysore, Bhartiya Mahila Bank, State Bank of Travancore, State Bank of Patiala, State Bank of Bikaner and Jaipur. SBI has already mapped the old IFSC codes with the new IFSC code internally to make the transition process more easier for customers. Customers will have to apply for new cheque books as the old ones will become obsolete.

    How to Transfer Money using SBI Bank NEFT and RTGS Processes?

    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

    About State Bank of India (SBI):

    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.

    Other Popular Banks IFSC Code:

    Other IFSC Related Article

    News Related to SBI IFSC Code

    • Reliance Jio, SBI Join Hands for Digital Payment Push

      The State Bank of India (SBI) and Reliance Jio have now joined hands in order to collaborate to give a push to the digital transaction sector.

      As part of this collaboration the SBI YONO app will work with SBI Rewardz to work with the Reliance MyJio Platform. The aim will be to provide a ‘next-generation’ banking experience to all customers. Some of the services that will be available through this platform is the facility to book taxis, pay bills, etc. Apart from this, Reliance Jio will also provide device solutions and special connectivity. This new feature will also allow SBI customers the option to earn a couple of extra reward points. Another feature that will be available is the Jio Prime service, which is a commerce and customer engagement platform that is offered by Reliance. Customers can enjoy various deals from that are exclusively available on Jio Prime.

      Another advantage that this partnership offers is that SBI will be able to leverage the Jio network that is available in both urban and rural areas. SBI plans to introduce a number of customer-friendly solutions such as video banking and other on-demand services.

      6 August 2018

    • SBI Charges Rs.10 Per Financial Transaction Carried Out

      Many banks that operate in the country allows their customers to carry out a certain number of transactions at ATMs every month without them needing to pay a fee. State Bank of India, the country’s largest lender as of now allows unlimited transactions at its group ATMs without any cost to those customers who maintain a monthly average balance above Rs.25,000 in the previous month. Apart from that the bank also allows unlimited free transactions at ATMs of other banks to those customers who maintain a monthly average balance of more than Rs.1 lakh. If an SBI customer does not meet the conditions mentioned above, he/she becomes ineligible for unlimited transactions at ATMs. Apart from that, they are needed to pay a certain fee for every ATM transaction carried out that is beyond the permitted limit. As of now, SBI levies a fee of Rs.5 for every non-financial transaction and Rs.10 for every financial transaction carried out at its group ATMs. However, at ATMs of other banks the fee charged is Rs.8 for non-financial transactions and Rs.20 for financial transactions.

      19 July 2018

    • SBI Charges a Fee Ranging from Rs.1 to Rs.50 for Every NEFT/RTGS Transaction

      In today’s world, most banks offer electronic money transfer services. Among the most popular are the National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) as it enables an account holder to send money to a beneficiary without him/her needing to deal in cash. However, when an individual uses the service, a fee is charged by the banks.

      SBI, the country’s largest lender charge a fee of Rs.1 plus GST for every NEFT transaction of Rs.10,000 carried out using net banking or mobile banking. For amounts between Rs.10,000 and Rs.1 lakh, the bank charges Rs.2 plus GST and Rs.3 is charged for amounts that range between Rs.1 lakh and Rs.2 lakh. If the amount is above Rs.2 lakh, the bank charges a fee of Rs. 5 plus GST per transaction. When it comes to RTGS transactions carried out through net banking and mobile banking, the bank charges a fee of Rs.5 for money transfers between Rs.2 lakh and Rs.5 lakh. For amounts above Rs.5 lakh, the fee charged is Rs.10.

      However, when NEFT and RTGS transactions are carried out through an SBI branch, the fee charged goes up slightly with the bank charging Rs.2.50 plus GST for every NEFT transaction up to Rs.10,000/-. For amounts between Rs.10,000 and Rs.1 lakh, the fee charged is Rs.5 plus GST while for amounts between Rs.1 lakh and Rs.2 lakh the bank charges Rs.15 plus GST. With regard to RTGS transfers carried out through an SBI branch, the bank charges a fee that starts from Rs.25 plus GST and goes up to Rs.50 plus GST as per the bank’s website.

      17 July 2018

    • SBI Offers Zero-Balance Accounts

      In a good news for customers, State Bank of India (SBI) offers a number of savings accounts that do not require the account holder to maintain a certain prescribed minimum balance.

      In fact, such accounts allow the customer to even maintain a zero balance and still keep the account. One such example is the SBI salary package account that comes with a unique zero balance feature. Some of the other accounts that offers this facility include the small accounts for minors, digital savings account, and insta savings account, among others.

      9 July 2018

    • All One Needs to Know about SBI ATM Charges

      The country’s largest bank namely State Bank of India offers a lot of benefits to its esteemed customers. The bank currently allows its customers, who maintain a monthly average balance above Rs.25,000 in the previous month to carry out unlimited transactions at its group ATMs without any cost. The bank offers unlimited free transactions at ATMs of other banks for the month if the customers maintain a monthly average balance of Rs. 1 lakh in the previous month.

      State Bank of India charges an amount in the range of Rs.5 to Rs.20 plus GST for every transaction that is beyond the limited number of transactions for customers having accounts with the bank with lesser monthly average balance. For every financial transaction carried out at State Bank Group (SBG) ATMs beyond the monthly limit, the bank charges Rs.10 plus GST while Rs.20 plus GST is charged if the card is used at an ATM of another bank. As for non-financial transactions carried out at ATMs that is beyond the monthly limit, Rs.5 plus GST is charged for every transaction made at SBG ATMs and Rs.8 plus GST is charged if the transaction is carried out at an ATM of other banks.

      Apart from the benefits that the bank offers when it comes to ATMs, the customers also need to know that the bank charges Rs.20 plus GST for every declined transaction due to insufficient balance in the account and that it charges Rs.22 plus GST for every card-less withdrawal, a facility which is provided at select SBG ATMs.

      26 June 2018

    • SBI-type Bank Merger likely Soon

      It is quite possible that the country will soon see another SBI-type merger deal in the coming days. The government may think of merging banks such as Central Bank, Oriental Bank, IDBI Bank, and Bank of Baroda, among others, if reports are to be believed.

      As per another reports, it has come to light that the government is probably trying to create around 4 to 5 global lenders.

      In april last year, SBI entered into a merger deal with five od its associate banks, including the Bharatiya Mahila Bank.

      5 June 2018

    • SBI, Sees Surge in UPI use

      The State Bank of India (SBI) and Punjab National Bank (PNB) have witnessed a high increase in the number of Unified Payment Interface (UPI) transactions in the recent past. The market share for UPI has been increasing despite the presence of several other types of payment options in the country.

      The rise in the number of payment platforms accepting UPI has also increased. Some of the popular platforms include Google Tez, Paytm, PhonePe, etc.

      4 June 2018

    • 1.84 Million Users Embrace UPI: SBI

      As far as UPI usage is concerned, the SBI Pay app has as many as 1.84 million users as reported by the end of March this year. This is a significant increase from the previous year, which is by 55.9%.

      The SBI YONO app has also seen a rise in the number of users, reaching 1.49 million. The app has also been downloaded as many as 4.37 million times, with a very high conversion rate.

      4 June 2018

    • SBI, HDFC Offering Number of Benefits with BSBD Account

      Key banks like State Bank of India and HDFC are offering its customers a basic savings bank deposit (BSBD) account which does not require them to maintain any minimum or monthly average. Both SBI and HDFC are offering debit card, ATM as well as internet banking facilities on opening the BSBD account.

      While SBI is providing an interest percent of 3.5 and 4 on savings deposits balance up to Rs.1 crore and above Rs.1 crore respectively, HDFC is offering 4% each on savings bank balance that is below Rs.50 lakh as well as for an amount that is above Rs.50 lakh. Some of the benefits offered by both the banks to its customers on opening BSBD account are like no annual maintenance charge on the ATM-cum-debit card, debit and credit through NEFT/RTGS to be free, no account closure charges, availing safe deposit locker and super saver facilities, free passbook, lifetime free BillPay, InstaQuery and e-mail statement facilities among others.

      28 May 2018

    • State Bank of India offers Insta Savings Account to its Customers

      State Bank of India (SBI), the country’s largest public sector bank has offered its customers a facility of opening a savings account which does not require them to have any minimum balance till August 2018. The facility termed as Insta Savings Account can be opened from the comfort of the customer’s home via the bank’s YONO app and does not require customers to submit any documents. This is because it offers the option of ‘paperless account opening’. The Insta Savings account which is activated instantly offers the customers a Rupay debit card and enables them to maintain aggregate balance of Rs.1 lakh. The account also enables customers to carry out annual transaction of up to Rs.2 lakh. The account which can be opened by any resident Indian who is above 18 years of age comes with the facility that it can be converted into a regular savings account within a year of opening the account.

      9 May 2018

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    SBI AIIMS Raipur Branch SBI Central Market Lajpat Nagar Delhi Branch SBI Chandni Chowk Branch
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    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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