Digital banking and online financial transactions in India uses one essential element that ensures you have a seamless and accurate fund transfers, it is the IFSC Code. Banks need the correct IFSC Code for NEFT, RTGS, or IMPS transfers to reach the right branch. If you are looking for the IFSC Code of State Bank Of India for its Hospet branch in Bellary, Hospet, or Karnataka, this guide will help you with all the details.
There have been major changes in the banking sector in India and today, the customers of State Bank Of India located in Bellary or anywhere in Karnataka can transfer funds instantly by using the correct IFSC Code SBIN0040116. You should definitely know how the IFSC Code works and how it helps you stay informed and avoid transfer errors.
Details of IFSC Code for State Bank Of India, Hospet, Bellary
Below in the table are the key details related to IFSC Code SBIN0040116 of State Bank Of India for its branch located in Bellary, within the district of Hospet in the state of Karnataka.
| Particulars | Details |
|---|---|
| Bank | State Bank Of India |
| IFSC Code | SBIN0040116 |
| Branch | Hospet |
| City | Bellary |
| District | Hospet |
| State | Karnataka |
| Address | Taluk Office Rd,Hospet |
These details are important not only for users using online banking but also for businesses and individuals who use State Bank Of India in Bellary for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code SBIN0040116 for the Hospet branch of State Bank Of India is vital.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, along with State Bank Of India located in Hospet, Bellary, Karnataka, are given a unique IFSC like SBIN0040116 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Bellary.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents any kind of confusion between different branches of the same bank in places like Bellary and Hospet.
- It reduces errors in fund transfers and improves accuracy.
- It helps the sender banks to validate and confirm branch details before processing payments.
It helps ensure that any money sent to State Bank Of India in Hospet goes to the correct branch. This is important because State Bank Of India has thousands of branches in Karnataka and all over India, and the IFSC Code prevents payments from going to the wrong place.
Format of the IFSC Code SBIN0040116
This is the format of the IFSC Code for banks, including State Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the explanation:
- First 4 characters (AAAA): This is the bank code. For State Bank Of India, these characters are the bank's short identifier.
- 5th character (0): This stays zero till there is any future use.
- Last 6 characters (CCCCCC): These are specific branch code assigned to branches such as Hospet in Bellary.
For example, the IFSC Code SBIN0040116 of State Bank Of India for the Hospet branch includes these elements, identifying the bank and the branch location in Bellary and Karnataka accurately.
How to Find IFSC Code for State Bank Of India?
To find the IFSC Code SBIN0040116 of State Bank Of India for its Hospet branch located in Bellary, the following methods can help you out:
Cheque Book
The cheque book issued by State Bank Of India includes the IFSC Code printed on each cheque leaf. You can easily spot the code on the top section.
Passbook
Most banks, including State Bank Of India branches in Bellary and Hospet, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of State Bank Of India and go to the branch locator section. Then search for Hospet or Bellary to find the exact IFSC Code SBIN0040116.
Mobile Banking App
If you use State Bank Of India's mobile app, you can check your account details to find your branch's IFSC code.
RBI Website
The Reserve Bank of India maintains an updated database of all IFSC codes. Searching for State Bank Of India and Bellary will provide accurate information.
How to Use IFSC Code SBIN0040116 for Online Transfers?
Once you have the IFSC Code SBIN0040116 for the Hospet branch of State Bank Of India in Bellary, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code SBIN0040116. 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 SBIN0040116.
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 Hospet in Bellary, 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 Hospet, here are some ways to obtain 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.
Having both the IFSC and MICR codes makes it easy for account holders in Bellary to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code is SBIN0040116.
Yes, but there can be changes during mergers or restructuring.
No, MICR is for cheque clearing and the IFSC is for online transfers.
You can easily find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Taluk Office Rd,Hospet located in Bellary, Hospet, Karnataka.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.