State Bank of India (SBI) IFSC Code
An SBI IFSC code is an 11-character code. The first four letters- 'SBIN' denote State Bank of
India. The fifth character is always '0', reserved for future use, and the last six digits identify the specific branch.
The IFSC (Indian Financial System Code) is essential for initiating fund
transfers via NEFT, RTGS, IMPS, or internet banking. Entering the correct IFSC ensures smooth and accurate transactions.
After it acquired five associate banks and one other bank, SBI
reworked the IFSC codes of approximately 1,300 branches in India.
The new SBI IFSC codes can now be searched by choosing the name of the bank, branch, and location from the dropdown option given.
The IFSC (Indian Financial System Code) is an alphanumeric code
given by the regulatory authority to every bank branch,
which facilitates easy electronic fund transfer through
NEFT, RTGS, or IMPS. Ensure you enter the correct IFSC code for a successful and secure transaction.
How to Find SBI IFSC and MICR Code Online
To locate the SBI IFSC code and MICR code, individuals
can simply check their SBI chequebook, where both details are
usually printed. Alternatively, the information is available on
the official State Bank of India website and on reliable third-party financial platforms.
One such platform is Fi Money, which allows users to search
IFSC codes easily. Scroll to the bottom of the Fi Money homepage
and click on the 'Bank IFSC Code' link. You'll be redirected to a
page with four dropdowns. Select the bank name (SBI), state, district,
and specific branch. The site will display the SBI IFSC code, MICR code, branch address, and contact details.
The MICR (Magnetic Ink Character Recognition) code is mostly used to
authenticate the genuineness of physical banking documents, like cheques, at the time of processing and clearance.
Revised SBI IFSC Code Post-Merger & Branch Rationalisation
The State Bank of India (SBI), a top public sector bank in
India, started a systematic process of rationalisation after
its 2017 merger of five associate banks and Bharatiya Mahila Bank.
This process, almost over, involved the relocation and consolidation of many branches.
As part of this rationalisation, more than 1,000 SBI
branches were structurally reorganised between April and September 2017.
Approximately 125 branches were shifted, and numerous associate bank branch
locations were merged into existing SBI branches. The changes also prompted modifications to the SBI IFSC codes of impacted branches.
The consolidation included banks like State Bank of Mysore,
State Bank of Travancore, State Bank of Patiala, State Bank of
Bikaner & Jaipur, and Bharatiya Mahila Bank. Though SBI has
internally updated the old IFSC codes to their updated counterparts
for a hassle-free transition, customers are requested to request new
cheque books since the ones issued earlier might not be functional now.
How to Transfer Money Using SBI NEFT, RTGS & IMPS Services
State Bank of India (SBI) provides a range of easy, safe digital platforms for
sending money, whether to another SBI branch or any other bank in India. Depending
on the urgency and the amount involved, the customer can use NEFT, RTGS, or IMPS.
SBI NEFT Transfer (National Electronic Funds Transfer)
SBI's e-Monies NEFT facility enables seamless fund transfers across banks in India.
While there is no upper limit for NEFT transactions at SBI branches, transfers via
online banking are capped at ₹10 lakh per day. As per time slots defined by the
regulatory authority, NEFT transactions are processed hourly during working hours.
SBI RTGS Transfer (Real Time Gross Settlement)
RTGS is best suited for high-value funds requiring real-time settlement.
Because the value is settled immediately and separately, there is no time
spent waiting for batch settlement. RTGS is ideal for over ₹2 lakh, and there
is no upper limit if carried out at the branch. International RTGS transfer is also likely, subject to regulations.
SBI IMPS Transfer (Immediate Payment Service)
For 24x7 instant fund transfers including weekends and bank holidays,
SBI's IMPS service is the most convenient. Funds are credited within minutes,
making it perfect for emergency or real-time needs. IMPS is accessible via mobile banking, net banking, and ATMs.
Whether it is a small amount or big, SBI's online payment platform
guarantees safe, fast, and hassle-free money transfers anywhere, anytime.
The lowest and uppermost sum for RTGS/NEFT transactions under Retail Internet Banking
Type | Minimum | Maximum |
---|
RTGS | INR 2 lakhs | No Limit |
NEFT | Rs. 1/- | No Limit |
The lowest and uppermost sum for RTGS/NEFT transactions under Corporate Internet Banking
Type | Minimum | Maximum |
---|
RTGS | INR 2 lakhs | 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 lakhs | INR 15 |
| | More than INR 1 lakh | INR 25 |
RTGS Transaction Timings & Charges
State Bank of India offers competitive RTGS charges based on transaction timing and amount.
RTGS Customer Transactions
Time of settlement at the RBI | Transaction Slab | Charges |
---|
From - 09.00 Hours To - 12.00 Hours | Between INR 2 lacs & INR 5 lacs | INR 25 |
| More than INR 5 lacs | INR 51 |
From - Post 12.00 Hours To - 15.30 Hours | Between INR 2 lacs & INR 5 lacs | INR 26 |
| More than INR 5 lacs | INR 52 |
From - Post 15.30 Hours To - 16.30 Hours (Mon-Fri) | 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 - 09.00 Hours To - 12.00 Hours | Between INR 2 lacs & INR 5 lacs | INR 25 |
| More than INR 5 lacs | INR 51 |
From - Post 12.00 Hours To - 15.30 Hours | Between INR 2 lacs & INR 5 lacs | INR 26 |
| More than INR 5 lacs | INR 52 |
From - Post 15.30 Hours To - 16.30 Hours (Mon-Fri) | Between INR 2 lacs & INR 5 lacs | INR 31 |
| More than INR 5 lacs | INR 56 |
Details Needed for Funds Transfer under any Payment Method
While performing a NEFT or RTGS transaction via State Bank of India, the customers are required to furnish the following details:
- •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)
The State Bank of India (SBI) is India's largest public sector bank.
Headquartered in Mumbai, SBI offers a wide range of financial services
including personal banking, corporate banking, NRI services, international
banking, personal loans, and agriculture-focused offerings. With over 17,000
branches in India and a strong global presence through 190 overseas offices,
SBI serves millions of customers worldwide. It ranks among the top three banks
in India, alongside other public sector banks and continues to be a key driver in the country's financial ecosystem.