For digital banking and online financial transactions in India, one essential element that makes sure of a seamless and accurate fund transfers is the IFSC Code. If you are sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to route your payment to the right branch. And so, in case you are searching for the IFSC Code of State Bank Of India for its Deolali branch in Beed, Deolali, Maharashtra, this comprehensive guide will provide you with detailed information.
The banking system in India has changed significantly over the years, and today customers of State Bank Of India located in Beed or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code SBIN0007401. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.
Details of IFSC Code for State Bank Of India, Deolali, Beed
The table below shows the main details of the IFSC Code SBIN0007401 for the State Bank Of India branch in Beed, which falls under the Deolali district in Maharashtra.
| Particulars | Details |
|---|---|
| Bank | State Bank Of India |
| IFSC Code | SBIN0007401 |
| Branch | Deolali |
| City | Beed |
| District | Deolali |
| State | Maharashtra |
| Address | Ashtitaluk, |
These details are crucial, not just for online banking users but also for businesses and individuals who use State Bank Of India in Beed for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code SBIN0007401 for the Deolali branch of State Bank Of India has an important role.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, an 11-character alphanumeric code that is provided by the Reserve Bank of India. A unique IFSC like SBIN0007401 is given to every bank branch, including State Bank Of India located in Deolali, Beed, Maharashtra, to make sure that online payments reach the right place.
The IFSC Code is important because:
- It uniquely identifies the State Bank Of India branch in Beed.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any kind of confusion between multiple branches of the same bank across different places like Beed and Deolali.
- It removes errors in fund transfers and improves accuracy.
- It lets the sender banks validate and confirm branch details before they process the payments.
There are thousands of branches across Maharashtra and the rest of India, which is why the IFSC Code ensures that transactions meant for State Bank Of India in Deolali doesn't end up at another location.
Format of the IFSC Code SBIN0007401
The format of the IFSC Code for banks, including State Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): These represent the bank code. In State Bank Of India, they are a short identifier for the bank.
- 5th character (0): This is always zero and is reserved for future use.
- Last 6 characters (CCCCCC): These are what represent the specific branch code which is assigned to branches like Deolali in Beed.
For example, the IFSC Code SBIN0007401 of State Bank Of India for the Deolali branch has these elements, identifying the bank and the branch location in Beed and Maharashtra correctly.
How to Find IFSC Code for State Bank Of India?
If you are looking for the IFSC Code SBIN0007401 of State Bank Of India for its Deolali branch located in Beed, the following methods can help:
Cheque Book
The cheque book that is issued by State Bank Of India includes the IFSC Code printed on each cheque leaf. You can easily spot the code at the top section.
Passbook
Most of the banks, including State Bank Of India branches in Beed and Deolali, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
You can visit the official website of State Bank Of India and look for the branch locator section, then search for Deolali or Beed to get the exact IFSC Code SBIN0007401.
Mobile Banking App
If you use State Bank Of India's mobile app, you can check your account details to easily find your branch's IFSC code.
RBI Website
The Reserve Bank of India has an updated database of all IFSC codes and if you are searching for State Bank Of India and Beed, then it will provide you proper information.
How to Use IFSC Code SBIN0007401 for Online Transfers?
Once you have the IFSC Code SBIN0007401 for the Deolali branch of State Bank Of India in Beed, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code SBIN0007401. The transfer is completed in batches. It is useful for both personal and business payments.
RTGS
Used for payments over ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.
IMPS
Instant 24×7 transfers. Requires the recipient's account details and State Bank Of India IFSC Code SBIN0007401.
No matter which payment method you use, the IFSC Code must be correct. If you enter the wrong IFSC Code for the State Bank Of India Deolali in Beed, your payment can get delayed or might not go through at all.
Finding the MICR Code
MICR codes are used for cheque clearance and differ from IFSC codes. If you are looking for the MICR code of State Bank Of India in Deolali, here are some ways that you can get it:
- Check the bottom of your cheque leaf.
- Refer to the first page of your passbook.
- Visit the official State Bank Of India website.
- Search the RBI portal.
If you know both IFSC and MICR codes, then it can help account holders in Beed manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code of the Deolali Beed branch is SBIN0007401.
Yes, the IFSC Code remains the same unless the bank undergoes a merger or restructuring.
No. IFSC is used for online fund transfers, while MICR is used for cheque processing and clearance.
You can find it on cheque books, passbooks, bank websites, mobile banking apps, and the RBI website.
The branch is located at Ashtitaluk,.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.