Syndicate Bank IFSC Code is an 11-digit code assigned to each branch of the bank by the Reserve Bank of India. This code helps in making online fund transfer from one bank account to another. Some of the unique features of the IFSC Code are listed below –
- Helps to uniquely identify a specific bank branch.
- Helps to reduce errors in the fund transfer process.
- Used for all electronic payment options such as NEFT, RTGS, and IMPS.
Syndicate Bank IFSC Code Format
| Syndicate Bank Code | Zero | Syndicate Bank's Branch code | ||||||||
| S | Y | N | B | 0 | 0 | 0 | 9 | 0 | 0 | 3 |
The first four alphabets of Syndicate Bank IFSC code indicates the bank name followed by a ‘0’ and the last 6 digits indicates the bank branch.
In the above example, SYNB0009003 is Syndicate Bank's Chandni Chowk branch's IFSC code where ‘SYNB’ is the bank code followed by a ‘0’ and ‘009003’ indicates branch's IFSC code.
How does IFSC Code of Syndicate Bank works?
In order to transfer funds to a Syndicate Bank's beneficiary account of a particular branch, one has to provide details including the name of the payee, account number, IFSC code of the Syndicate Bank's receiving branch, and the amount.
Once the remitter provides all these details, the funds transfer is initiated where IFSC code helps is identifying the correct branch of the receiving bank for a successful transaction.
How to search Syndicate Bank IFSC Code & MICR Code?
Syndicate Bank customers can search for the IFSC Code & MICR Code of a particular branch through the following ways:
1. PaisaBazaar's IFSC Search Tool
The bank's customers can use the online IFSC Search Tool offered by Paisabazaar by following the steps mentioned below:
- Find the IFSC search tool at the top of this page.
- Syndicate Bank is the default bank name selected.
- Select the essential details like state and city names.
- Select the bank's branch to find its IFSC and MICR codes.
The customers can also search these financial codes on the following platforms:
2. Syndicate Bank Cheque Book
IFSC code is mentioned at the top of the Syndicate Bank's cheque whereas Cheque number and MICR code is present at the bottom of the cheque.
3. Syndicate Bank Passbook
Syndicate Bank's IFSC Code can also be checked on the account holder’s bank passbook. Alternatively, account holders can also visit the Reserve Bank of India’s official website to find these financial system codes.
4. Syndicate Bank Net Banking / Mobile Banking Application
Bank account holders can also find these at Syndicate Bank's mobile banking application and net banking portal provided by the bank.
How to Make Fund Transfer using Syndicate Bank IFSC Code?
Customers can transfer funds via below-mentioned modes:
NEFT
National Electronic Fund Transfer (NEFT) is a nation-wide payment system that allows the transfer of funds from one bank’s account to another. Syndicate Bank allows both account holder as well as non-account holders to use its NEFT service. However, IFSC Code is mandatory for NEFT transactions.
RTGS
Under Real Time Gross Settlement (RTGS), the beneficiary bank gets transfer instructions immediately. The settlement is gross, meaning that each transaction takes place individually.
IMPS
Immediate Payment Services (IMPS), an instant payment inter-bank electronic funds transfer system in India. In order to send money the sender needs to provide beneficiary’s account no, account type, IFSC Code and beneficiary’s name.
About Syndicate Bank
Syndicate Bank was established in 1925 in coastal Karnataka. The bank is still rooted to its rural values, but has developed tremendously along with the modern developing society. The bank has launched Centralised Banking Solutions (CBS) system, linking all its 500 branches and ATMs. Syndicate Bank offers various products and services such as deposit accounts, credit cards, debit cards, investment, loans, etc.