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SBI IFSC Code

SBI or commonly known as State Bank of India is an Indian multinational, public sector banking and financial services company, which is India’s leading payment solution providers. The company is a joint venture between State bank of India and GE Capital. The bank has branches in over 50 cities and has a customer base of 3.75 million across India. The financial institution has a net profit of Rs. 271 crore at the end of the financial year which ended in March 2016. State Bank of India (SBI) provides its services in both the personal banking and corporate banking segments.

SBI has its 7 associate banks which it had acquired control in 1960. Earlier these banks were regional state banks and all of them were renamed with the prefix ‘State Bank’ and they became State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP), State Bank of Travancore (SBT), State Bank of Saurashtra (SBS), and State Bank of Indore (SBI). And all of these banks used the same logo as its parent bank.

Non - banking subsidiaries

Apart from its five associate banks, SBI also has the following non - banking subsidiaries:

  • SBI Capital Markets Ltd

  • SBI Funds Management Pvt. Ltd

  • SBI Factors & Commercial Services Pvt. Ltd

  • SBI Cards & Payments Services Pvt. Ltd. (SBICPSL)

  • SBI DFHI Ltd

  • SBI Life Insurance Company Limited

  • SBI General Insurance

Highlights

  • Type – Public

  • Industry – Banking and Financial Service

  • Headquarters – Mumbai, Maharashtra, India

  • Owner – Government of India

  • Number of Employees – 209,567 (2017)

Products and Services Offered by SBI Bank

SBI bank provides a host of products and services to its customers which are as follows:

  • SBI Personal Banking

  1. SBI Savings

  2. SBI Deposits

  3. Investment in Term Deposit

  4. Investment in Public Provident Fund (PPF)

  5. Investment in New Pension Scheme (NPS)

  6. SBI Personal Finance

  7. Home Loan

  8. Education Loan

  9. Personal Loan

  10. Loan Against Property

  11. Loan Against Securities

  12. Gold Loan

  • SBI Cards

  1. Debit Card

  2. Contactless Debit Card

  3. SBI Mumbai Metro Combo Card

  4. SBI Business Debit Card

  5. SBI Prepaid Debit Card

  • SBI Rewards: Get rewarded for your relation with State Bank of India (SBI)

  1. Largest network of ATM Services

  2. Demat Services

  3. Safe Deposit Lockers

  • SBI Corporate Banking

  • Current Account

  1. SBI Technology

  2. Online Personal Banking Services

  3. Individual Account Holder

  4. Non – Individual and Corporate Account Holders

  5. Mobile Banking Services

  6. mCash

  • SBI – In – Touch

IFSC Code is 11-digit code assigned by the Reserve Bank of India (RBI) to every bank as a part of NEFT / RTGS.

In IFS Code

(a) First four characters identify the bank name i.e. SBIN

(b) The fifth character is always 0

(c) And the last character represents the branch address i.e. 060393

[The IFS code used in above example is of Ashutosh Mukherjee Road, Kolkata, West Bengal i.e., “SBIN0060393”].

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