IFSC Code of State Bank Of India, Punalur, Punalur, Kerala — SBIN0070059

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 Punalur branch in Kollam, Punalur, or Kerala, 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 Kollam or anywhere in Kerala can transfer funds instantly by using the correct IFSC Code SBIN0070059. 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, Punalur, Kollam

Below in the table are the key details related to IFSC Code SBIN0070059 of State Bank Of India for its branch located in Kollam, within the district of Punalur in the state of Kerala.

These details are important not only for users using online banking but also for businesses and individuals who use State Bank Of India in Kollam for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code SBIN0070059 for the Punalur 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 that is provided by the Reserve Bank of India. A unique IFSC like SBIN0070059 is given to every bank branch, including State Bank Of India located in Punalur, Kollam, Kerala, 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 Kollam.
• 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 Kollam and Punalur.
• 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 Kerala and the rest of India, which is why the IFSC Code ensures that transactions meant for State Bank Of India in Punalur doesn't end up at another location.

Format of the IFSC Code SBIN0070059

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): Show the bank code. For State Bank Of India, these letters represent the bank's short name.
• 5th character: Is always zero and is kept for future use.
• Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Punalur in Kollam.

For example, the IFSC Code SBIN0070059 of State Bank Of India for the Punalur branch includes these elements, identifying the bank and the branch location in Kollam and Kerala accurately.

How to Find IFSC Code for State Bank Of India?

To find the IFSC Code SBIN0070059 of State Bank Of India for its Punalur branch located in Kollam, 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 Kollam and Punalur, 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 Punalur or Kollam to find the exact IFSC Code SBIN0070059.

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 Kollam will provide accurate information.

How to Use IFSC Code SBIN0070059 for Online Transfers?

If you have the IFSC Code SBIN0070059 for the Punalur branch of State Bank Of India in Kollam, you can easily go ahead with fund transfers using any digital method:

NEFT

Add beneficiary details including the name, account number, and IFSC Code SBIN0070059. Transfers are processed in batches. Suitable for personal and business payments.

RTGS

Used for high-value payments above ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.

IMPS

Instant 24×7 transfers. Asks for the recipient's account details and State Bank Of India IFSC Code SBIN0070059.

Whatever method you choose, the accuracy of the IFSC Code is important and needed. In case there is any mistake in entering the IFSC Code for State Bank Of India Punalur in Kollam, it may result in delayed or failed transactions.

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 Punalur, 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 Kollam to handle online money transfers and get their cheques cleared smoothly.