State wise list of Syndicate Bank IFSC code, MICR code and addresses of all branches in India
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Each branch of bank in India has a specific IFSC code assigned to it in order to identify transactions done through that branch. IFSC codes are alphanumeric, unique codes. One can transfer funds to a branch of their choice by entering the IFSC codes or MICR codes of that branch. The usage of these codes are mandatory for online transactions of all the banks in India. The IFSC code ensures that there is no confusion when one transfers funds.
IFSC code consists of 11 characters. It encompasses three parts: the first four characters are alphabets and represent the name of the bank. This is followed by the digit ‘0’. The final six characters are usually numbers and indicate a particular branch.
For example, here is a breakup of the IFSC code of Syndicate Bank.
SYNB0009149 - IFSC Code for a Syndicate Bank
Anyone can find out the IFSC codes and MICR codes of a bank if they know the full name of the bank and the branch that they are looking for. For example, if one needs the IFSC code of a
particular branch of Syndicate Bank, they can find it printed on a cheque books/leaves issued by Syndicate Bank. The complete list of IFSC codes of all the banks in India are offered by The Reserve Bank of India. Alternatively, you can log on to the official website of the bank to find the IFSC code. It is also possible to log on to a third party financial websites such as BankBazaar to find this information.
By logging on to BankBazaar, you will be presented with a complete list of IFSC codes for almost every bank in India, including that of Syndicate Bank. Following are the steps you should follow to get the IFSC or MICR codes that you require:
The generated table will not only provide you with the IFSC code but also the phone number, address of the branch, name, branch code etc.
As a customer of Syndicate Bank, it is a simple and convenient task to make online fund transfers using NEFT or RTGS services.
National Electronic Funds Transfer (NEFT):
When you transfer funds using NEFT or National Electronic Funds Transfers, the process works based on Deferred Net Settlements. It is done on an hourly schedule which means that they are done in batches. If you have debited the amount within the time-frame that is stipulated by the bank, it will be credited to the beneficiary on the same day. If not, the amount will be credited on the following working day.
You will need the following information to use NEFT service at Syndicate Bank:
Following are the Service Charges on NEFT transactions at Syndicate Bank:
|
Range |
Transaction Charge |
|
Upto Rs.1 lakh |
NIL |
|
Rs. 1 lakh to Rs 2 lakh |
Rs. 15 /- per transaction + ‘applicable taxes’ |
|
above Rs 2 lakh |
Rs. 25/- per transaction + ‘applicable taxes’ |
Real Time Gross Settlement System (RTGS):
Real Time Gross Settlement System (RTGS), unlike NEFT, involves transfers being completed on an individual transaction basis which means that the clearance of funds are scheduled individually and not batch-wise. If you are looking for the quickest way to transfer funds, RTGS may be the perfect option. Not only is it one of the quickest modes of fund transfer, but it is also one of the safest. Syndicate bank ensures that all your transactions will be completed on the same day that the customer debits the fund, unless it has been done after the indicated time frame.
You will need the following information to use RTGS service at Syndicate Bank:
The following are the charges for availing the RTGS service (for outward transactions) at Syndicate Bank:
|
Range |
Transaction Charge |
|
Rs. 2 lakh to Rs.5 lakh |
Rs. 25/- per transaction + ‘applicable taxes |
|
Rs. 5 lakh and above |
Rs. 50/- per transaction + ‘applicable taxes |
Headquartered in Manipal, Karnatake, Syndicate Bank is one of the oldest commercial banks in India. T M A Pai, Upendra Pai and Vaman Kudva are the founders of this establishment. The first branch of the Syndicate bank began its operations in Udupi in 1925. The bank commenced with the aim of assisting local weavers financially, but soon grew to be much more. Initially, Synidicate Bank was known as Canara Industrial and Banking Syndicate Limited. The Government of India nationalized the bank in 1968. Today Syndicate Bank has over 3000 branches in all the States and Union Territories of the country. Its presence is also felt internationally.
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Syndicate Bank has been asked to file counter-affidavits over a petition that was filed by Badhri Impex Pvt Ltd. The petitioner firm has filed a complaint against Syndicate Bank regarding a loan that was taken in 2014. Though the bank has granted time for the repayment of the loan, the petitioner firm says that the bank’s officials have put the property for auction which is against the law. The court has asked Syndicate Bank for filing their counter-affidavits and has also adjourned the case till 30th of March.
1st April 2017
An initiative for business process re-engineering implemented by Syndicate Bank, Project Ananya, is expected to see the bank aim at transforming almost 10% of its branches by the end of March, 2017. The Executive Director of Syndicate Bank, Ch SS Mallikarjuna Rao revealed to the press in Mangalore that 372 branches are expected to be transformed as Ananya branches come the end of March. At the moment, there are already 200 branches transformed as Ananya branches. Rao went on to reveal that over the course of the coming financial year, 400 more branches are expected to undergo the transformation.
Project Ananya is an initiative that is aimed at transforming branches over two years so that customers can receive better service while the entire bank improves and takes a more modern approach.
20th February 2017
Syndicate Bank has opened a new branch at Nariman Point in Mumbai, where they will be implementing their flagship programme, Project Ananya. The branch is equipped to provide superior customer service through the latest digital banking services, integrated with a detailed focus on sales figures.
MD and CEO of the bank, Arun Shrivastava, stated that this is a flagship initiative that is aimed to provide best-in-class services to customers, while improving the four key functionalities of their operations, Digital Banking, HR Development, Business Process Re-engineering and Marketing.
9th September 2016
Syndicate Bank, a Manipal based public sector bank, reported a 5% increase in its net profit which was fixed at Rs 332 crore compared to Rs 316 crore profit last fiscal. The total income for Syndicate Bank rose to Rs 6,670 crore which was a 17. 4% increase. Various factors like lower provisions for non-performing assets and growth in net interest income.
Syndicate Bank offers a range of financial products like accounts, deposits and loan, and also facilities like internet banking for the benefit of their customers. Using the Syndicate Bank Net Banking facility, the customer can make a NEFT fund transfer by mentioning the IFSC code of beneficiary bank and the account number of beneficiary.
30th December 2015
One of India’s oldest public sector banks, the Syndicate Bank, is keen to consolidate on its good name and social standing by expanding its already impressive presence across the country. Boasting a current branch count of over 3,500, the bank wants to establish 300-500 more branches through the next fiscal year. Speaking at a recent function, and commenting upon his bank’s proposed additions to the Indian IFSC code system, Mr. TK Srivastava, Executive Director, expounded upon the bank’s expansion plans including the proposed hiring of over 5,000 employees to affect this ambitious next step.
28th July 2015
In a noble initiative directed towards women’s empowerment, Syndicate Bank has launched ‘SyndMahilaShakti’, a unique movement which aims to extend financial assistance to over 20,000 women entrepreneurs across the country.
Under this special scheme, women entrepreneurs can avail loans up to Rs 5 crore at concessional interest rates. Interest rate for loans up to Rs 10 lakh is set at a base rate of 10.25 %, while for loans above Rs 10 lakh, a concession of 0.255 shall be provided on the base rate. Loans provided under this scheme shall not carry any processing or documentation charges. Also, borrowers needn’t necessarily provide any collateral security or guarantee for loans up to Rs 10 lakh.
There are many other facilities which have been made available under the ‘SyndMahilaShakti’ scheme, some of which are instant global debit cards / ATM cards, credit cards which do not require any admission fees, SMS banking, mobile banking, money transfer with the help of IFSC code using internet banking, any branch banking, SyndSuraksha insurance policy and SyndArogya health insurance cover.
15th July 2015
