There is one important element for digital banking and online financial transactions in India that ensures seamless and accurate fund transfers is the IFSC Code. For sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to make the route of your payment to the right branch. In case you are searching for the IFSC Code of State Bank Of India for its Madurai City branch in Madurai, Madurai, Tamil Nadu, then this comprehensive guide will provide you with detailed information.
The banking system in India has changed over time, and today the customers of State Bank Of India situated in Madurai or anywhere in Tamil Nadu can easily transfer funds instantly by using the correct IFSC Code SBIN0000988. You should 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, Madurai City, Madurai
The table below shows the main details of the IFSC Code SBIN0000988 for the State Bank Of India branch in Madurai, which falls under the Madurai district in Tamil Nadu.
| Particulars | Details |
|---|---|
| Bank | State Bank Of India |
| IFSC Code | SBIN0000988 |
| Branch | Madurai City |
| City | Madurai |
| District | Madurai |
| State | Tamil Nadu |
| Address | Zion Bldgs,Mission Hospital Compound,East Veli Street,Madurai |
These details are essential not only for online banking users but also for businesses and individuals who use State Bank Of India in Madurai for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code SBIN0000988 for the Madurai City branch of State Bank Of India plays an important role.
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, including State Bank Of India located in Madurai City, Madurai, Tamil Nadu, is provided with a unique IFSC like SBIN0000988 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the State Bank Of India branch in Madurai.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any errors or confusions between multiple branches of the same bank across different places like Madurai and Madurai.
- It reduces errors in fund transfers and improves accuracy.
- It allows sender banks to validate and confirm branch details before processing payments.
There are thousands of branches across Tamil Nadu and the rest of India and the IFSC Code ensures that transactions meant for State Bank Of India in Madurai City do not get mixed with another location.
Format of the IFSC Code SBIN0000988
The format of the IFSC Code for banks, including State Bank Of India, has 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 Madurai City in Madurai.
For example, the IFSC Code SBIN0000988 of State Bank Of India for the Madurai City branch includes these elements, identifying the bank and the branch location in Madurai and Tamil Nadu correctly.
How to Find IFSC Code for State Bank Of India?
If you are trying to find the IFSC Code SBIN0000988 of State Bank Of India for its Madurai City branch located in Madurai, the following methods can help:
Cheque Book
The cheque book issued by State Bank Of India includes the IFSC Code printed on each cheque leaf which you can easily spot on the top section.
Passbook
Most banks, including State Bank Of India branches in Madurai and Madurai, print the IFSC and MICR codes on the first page of your passbook.
Bank Website
Visit the official website of State Bank Of India and navigate to the branch locator section. Search for Madurai City or Madurai to get the exact IFSC Code SBIN0000988.
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 keeps an updated list of all IFSC codes. If you search for State Bank Of India and Madurai, you'll get the correct details.
How to Use IFSC Code SBIN0000988 for Online Transfers?
Once you have the IFSC Code SBIN0000988 for the Madurai City branch of State Bank Of India in Madurai, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code SBIN0000988. The transfer is completed in batches instead of instantly. It is useful for both 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. Requires the recipient's account details and State Bank Of India IFSC Code SBIN0000988.
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 Madurai City in Madurai, 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 Madurai City, 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 Madurai manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is SBIN0000988.
Yes, but it can change if the bank merges or goes through restructuring.
No. MICR is for cheque clearing; IFSC is for online transfers.
You can find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Zion Bldgs,Mission Hospital Compound,East Veli Street,Madurai located in Madurai, Madurai, Tamil Nadu.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.