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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:

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
  • State Bank of India launches its very own digital wallet

    After lagging behind for a long time, State Bank of India has finally decided to cash in on the digital wallet mayhem by launching one of its very own service. The country’s leading public sector bank SBI has also roped in Bharat Sanchar Nigam Limited (BSNL) to offer banking services. This wallet called Mobicash is made available in over six states in the country currently and will roll out to other states in the coming months.

    During the application’s launch in Chennai, several dignitaries were also present. A few among them were SM Kalavati General Manager of Chennai Telephone, who unveiled the app while General Manager of SBI Network 1 was also present. Speaking during the event, Miss Kalavathi said that BSNL will be providing technical support and will also work towards training retailers to the ways of the app.

    20th January 2017

  • SBI to take suggestions from public to improve banking experience

    The State Bank of India (SBI) has launched a new campaign called #InspiredBanking. This new campaign will allow members of the general public to submit their ideas on how banking in India could be improved. The campaign, which was started in December, 2016 will take suggestions via an online portal and will select the best ones. The most popular idea will be voted upon by SBI followers and the creator of the idea will be rewarded by the bank in January, 2017. Due to the demonetization of the Rs.500 and Rs.1,000 currency notes a lot of the transaction have gone online and the bank is looking to continuously innovate new ideas and make the entire customer experience as seamless as possible.

    22nd December 2016

  • SBI Bank will collaborate with Microsoft for digital payments in rural areas

    Microsoft has been experimenting 'white space' in Andhra Pradesh since July, 2016. ‘White space’ is also referred to as ‘wide area WiFi’ or ‘Wide-Fi” technology, under this technology, digital banking services can be provided by using the available telecom networks. By using television stations and cable network, this concept can provide valuable digital banking services. The Wide-Fi utilizes the free television airwaves to access the internet, this will be helpful to provide internet services in rural areas where internet connectivity is weak.

    SBI Bank is already trying out few methods to facilitate digital transactions. From satellite technology that is used in ATMs to RF options, the bank is performing various tests to ensure the reliability of the services. The Wide-Fi could turn out to be a great solution to strengthen the Digital India initiative.

    27th December 2016

  • SBI to launch mobile wallet for money transactions using feature phones

    During her visit to Odisha, Arundhati Bhattacharya, Chairperson of State Bank of India, said that the bank is working with BSNL to bring mobile wallet for feature phone this December. Those who don’t have smart phones can use this tool for money transactions using feature phones. After demonetisation, demand for ‘point of sale’ machines has increased. SBI currently has 40,000 working machines and will add 1.5 lakh machines in future.

    On 1st December, the queues at ATMs were longer than usual due to pay-day rush and the withdrawal limit of Rs.2,500. Arundhati further added that SBI has recalibrated most of its ATMs. It has deployed business correspondents for banking transactions to help rural people during this demonetisation process. She also stated that there are currently 33,000 active BCs across India.

    1st December 2016

  • SBI sets up ATM inside Kanpur’s LLR Hospital

    Kanpur’s LLR Hospital now has a State Bank of India (SBI) ATM with a ward. The State Bank of India made this move to provide patients and families of patients with accessible cash for their hospital expenses. The ATM has been placed in a ward where the majority of patients are being treated and has is dispensing Rs.100 notes, so that patients do not face a problem to get change. The 3:00 PM on Tuesday (22nd November) Rs.60,000 was withdrawn from the ATM by patients and their families. SBI has also set up an ATM in the Oberoi Petrol Pump next door.

    24th November 2016

  • UPI Payments accepted by State Bank of India

    UPI payments are now being accepted by State Bank of India. However, all the outgoing transactions have not been enabled yet from any State Bank of India account to some other bank account. Using UPI can enable to people to make instant payments. Instead of typing in all the details about the bank account like the account number, IFSC, etc. UPI or Unified Payments Interface needs a small identifier to operate. Around 24 banks in India have enabled their accounts to both receive and send money via UPI payments.

    19th November 2016

  • UPI Payments accepted by State Bank of India

    UPI payments are now being accepted by State Bank of India. However, all the outgoing transactions have not been enabled yet from any State Bank of India account to some other bank account. Using UPI can enable to people to make instant payments. Instead of typing in all the details about the bank account like the account number, IFSC, etc. UPI or Unified Payments Interface needs a small identifier to operate.

    Around 24 banks in India have enabled their accounts to both receive and send money via UPI payments.

    19th November 2016

  • State Bank to raise Rs.3,300 crore through AT1 Bonds

    To expand the business and capital expansion State Bank of India has planned to make up to Rs 3,300 crore through additional tier-1 (AT1) bonds. The company, also has used this method as recently as September to raise funds. In fact AT1 bonds were used to raise Rs 2100 crore to YES Bank with an interest coupon 9%. CRISIL has rated these bonds 'AA+'.

    18th October 2016

  • SBI Becomes First Domestic Bank to Launch Operations in Yangon

    State Bank of India, the country’s largest bank, became the first domestic bank to open a branch in Myanmar’s capital city, Yangon. SBI’s Yangon branch is it’s 54th branch outside the country. The branch gives SBI’s global footprint a facelift, marking an expansion in its international presence. The bank currently operates 198 offices in 37 countries outside India. SBI was recently granted permission by the Myanmarese Central Bank to provide wholesale banking services to corporates of foreign origin. The Yangon branch was inaugurated by Mrs. Arundhati Bhattacharya, SBI’s Chairperson, who went on to highlight the bank’s longstanding relationship with the country. She made reference to SBI’s relationship with Myanmar that dated back to 1861 when the erstwhile Bank of Bengal had its branch in the then Rangoon.

    3rd October 2016

  • SBI Redefines Employee Relationship Management in Run Up to Associate Bank Mergers

    In order to ward-off apprehensions among almost 70,000 employees of SBI’s five associate banks, the bank recently launched an intra-bank portal where the employees can register their transfer requests. In the first week since its launch, 2,500 employees registered their requests for transfers. Neeraj Vyas, SBI’s Deputy Managing Director (Associates and Subsidiaries), in a recent statement said that the bank isn’t promising any transfers. He further commented that the bank is making effort to accommodate as many transfers as possible. SBI is also encouraging employees to participate in frank conversations and one-on-one discussions with senior officials in its internal social networking site in order to address grievances and win the confidence of its employees. This move towards transparency is seen by many in the industry as signifying a paradigm shift from the age-old relationships between employees and the management.

    3rd October 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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