South Indian Bank IFSC Code Search

In the 11-digit code, the first 4 characters depict the bank name, the fifth character is always ‘0’ and the last six characters determine the specific branch code.

For example:

SIBL0000790 is South Indian Bank IFSC Code Kerala (Branch: Aloor, Thrissur), where ‘SIBL’ denotes the bank code and ‘00790’ represents the branch code of Aloor, Thrissur, Kerala

South Indian Bank Code				ZERO	South Indian Bank Branch Code
S	I	B	L	0	0	0	0	7	9	0

The basic requirement to exchange money between the banks is the IFSC. IFSC is a branch identifier that locates the targeted bank branch and transfer funds to it. Each bank branch has its own IFSC that acts as an electronic address of a bank branch.Fund transfer via online banking has made banking easily available and convenient.

There are basically two major ways to transfer money using South Indian Bank IFSC, offline banking, and online banking. With the coming of online banking, people have shifted to mobile banking apps and the netbanking facility of the banks because of their convenience and availability. Let us learn about the three majorly used platforms for money transfer in India.

NEFT (National Electronic Fund Transfer): NEFT was started by the Reserve Bank of India (RBI) to process the online funds transfer from one account of an NEFT participant bank branch to another account in some other NEFT participant bank branch.

Features of NEFT 

1. There is no upper value or lower value limit for carrying out the NEFT transaction
2. Available 24*7 but the payment settles after every 30 minutes
3. Payments made via NEFT are highly secure

RTGS (Real-Time Gross Settlement): RTGS was also started by the RBI to facilitate fund transfer in the country. In RTGS the settlement is made on a real-time basis, which means the processing of instructions is done at the time they are received.

Features of RTGS

1. The minimum transfer value is Rs. 2 lakh
2. As per the RBI, RTGS Timings are 7 am to 6 pm - Monday to Saturday (except 2nd and 4th Saturdays)
3. It is mostly meant for high-value transactions, like for bigger corporates

IMPS (Immediate Payment System): IMPS is a fund transfer mechanism initiated by the NPCI to provide its customers with the convenience of transferring funds 24*7. As IMPS is available all the time, it is of great use in case of any emergency. There are a number of ways by which an IMPS transaction can be initiated.

• IMPS Transfer via IFSC
• IMPS Transfer via MMID and Mobile Number
• IMPS Transfer via SMS
• IMPS Transfer via ATM

IFSC is an important factor without which fund transfer is not achievable. One can get the IFSC and MICR code by the following modes –

1. IFSC search Tool: Visit the IFSC Code search tool provided by the Paisbazaar for the convenience of its customers.
   • Step1. Go to the page and select South Indian Bank
   • Step2. Choose the state, city and the bank branch
   • Step3. IFSC and MICR Code will appear on the screen
2. Reserve Bank of India: The RBI also developed a tool for searching the IFSC and MICR Codes of various banks in India. One can simply visit the RBI and find the required IFSC and MICR code.

Other than the Paisabazaar search tool and the RBI website there are other ways too to find out the South Indian Bank IFSC such as

• • Cheque leaf: This the offline mode of IFSC search wherein one can refer to the cheque book provided to him/her by the South Indian Bank. On a cheque leaf, IFSC can be seen printed at the top.

• Passbook: This is another offline mode of IFSC search wherein one can refer to the front page of the passbook issued by the bank.
• Digital Banking: Digital Banking Platforms of South Indian Bank includes Mobile Banking as well as Internet Banking. IFSC can be accessed via both these modes anytime whenever required. One can find the IFSC under the account detail section of the net banking portal or mobile banking app.

MICR Code is used by the banking industry of the country to streamline the cheque clearing process. Fund transfer is carried out in an error-free manner with the use of the MICR Code as the MICR Code is scanned by the MICR readers that read the information directly into the data collection device.

Examples

302059251 is the MICR Coe of Jaipur, Rajasthan

MICR Code Format

The code is made of 9-numbers such as the initial 3-digits tell us about the city, the next 3 tell us about the bank and the last three are indicative of the bank branch.

City			Bank			Bank Branch
3	0	2	0	5	9	2	5	1

Other than the Paisabazaar search tool and the RBI website, there are other ways too to find out the South Indian Bank MICR Codes. Let us learn more about them.

• Cheque Leaf: This the offline mode of MICR Code search wherein one can refer to the cheque book provided to him by the South Indian Bank. On a cheque leaf, MICR Code can be seen printed at the bottom next to the cheque number.
• Passbook: This is another offline mode of MICR Code search wherein one can refer to the passbook issued by the bank.
• Digital Banking Platforms: Digital Banking Platforms of South Indian Bank include Mobile Banking as well as Internet Banking. MICR Codes can be accessed via both these modes anytime whenever required.

An incredible number of deposits and withdrawals are being made all over the world each day. A secured protocol that is being used for carrying out fund transfer all over the world securely is called the SWIFT Code or SWIFT number. SWIFT Code provides us with the exact location of the receiver’s bank branch.

SWIFT Code Format

SWIFT Code has 8 or 11 characters wherein the initial 4 digits tell us about the bank, the next 2 indicate the country and the last 2 indicate the location.

How to find the South Indian Bank Swift Code?

Customers can consult the Customer Care Department of the bank to get the South Indian Bank SWIFT code.

MICR Code	IFSC	SWIFT Code
MICR is the short form of Magnetic Ink Character Recognition	IFSC is the short form of Indian Financial System Code	SWIFT is the short form of Society for World-Wide Interbank Financial Telecommunication
There are 9-digits in a MICR Code	There are 11-digits in an IFSC Code	There are 8 to 11-digits in a SWIFT Code
MICR Code is used by the financial institutions of the country to streamline the cheque clearing process	RBI uses IFSC to record all the transactions and carry out fund transfer in a transparent manner	SWIFT Code provides us with the exact location of the receiver’s bank branch and aids in fund transaction outside India