State Bank Of India Koratagere IFSC Code, Koratagere, Karnataka

SBI Bank IFSC Code for Online Transaction

SBI Bank IFSC code helps on making an online transaction. With the help of IFSC Code, you can send money to any account of the SBI Bank and also receive money from any account of SBI Bank. SBI Bank IFSC code is also required to send/transfer money through NEFT facility from a SBI Bank branch. There are certain limits on the amount that you can transact through SBI Bank

SBI Bank IFSC Code for Online Transaction

SBI Bank IFSC code helps on making an online transaction. With the help of IFSC Code, you can send money to any account of the SBI Bank and also receive money from any account of SBI Bank. SBI Bank IFSC code is also required to send/transfer money through NEFT facility from a SBI Bank branch. There are certain limits on the amount that you can transact through SBI Bank account online. Hence, you must check the maximum and minimum limit on the amount for which you can make a transaction online. This information is available on the official website of the SBI Bank. 

SBI Bank IFSC code is a must for online transactions. Suppose you have borrowed Rs 10,000 from a friend and want to return it using your net banking facility. To send the money, you need to first add your friend’s details like account number, bank and branch name and address and IFSC code of your friend’s bank branch. You can send money through net banking 24×7 to your friend, even if he/she doesn’t have an account in State Bank of India. You will have to add your friend as a beneficiary with his bank account details on your bank’s net banking portal.

SBI Bank IFSC Code format

The first four characters of SBI Bank IFSC code denotes the bank names while the fifth character is zero. The remaining six characters of the IFSC code of SBI Bank are unique and assigned for each branch of the SBI Bank.

Thus there are three components of SBI IFSC code. 

1. Bank name denoted by first four characters of the SBI Bank IFSC code

2. Zero as the fifth character. Zero is used as the fifth character of the SBI IFSC code is reserved for future use by the Reserve Bank of India. 

3. The last six characters show the unique SBI Bank branch code. No two branches of SBI Bank can have same IFSC codes. 

How to find SBI Bank IFSC code

You can find the IFSC code of your SBI Bank branch on the chequebook issued by the SBI Bank. You can also find IFSC code of any branch of State Bank of India on Financial Express IFSC code page.