Use this page as a one-stop reference for everything related to Axis Bank's SAKET SQUARE branch in INDORE, MADHYA PRADESH. The branch's IFSC code UTIB0005178 is the key identifier you need whenever a remitter, employer or biller asks for a bank routing number to send funds to an account held at this branch. We have also included the branch's postal address, telephone number, banking hours, common services, and an extensive FAQ block that should answer almost every question that comes up when you are about to add this branch as a beneficiary in your net-banking app for the first time.
IFSC stands for Indian Financial System Code. It is an 11-character code that pinpoints a particular bank branch on the RBI's real-time payment rails. Every NEFT, RTGS or IMPS instruction must carry the destination branch's IFSC for the credit to land in the correct account.
In our case, UTIB0005178 is the IFSC of Axis Bank's SAKET SQUARE branch. The format is fixed: UTIB = bank code, 0 = reserved, 005178 = branch identifier.
Branch details at a glance
| Bank Name | Axis Bank |
|---|---|
| Branch | Saket Square |
| IFSC Code | UTIB0005178 |
| MICR Code | Refer to cheque leaf |
| Branch Address | GROUND FLOOR AND MEZZANINE FLOOR 24 PATRAKAR COLONY SAKET SQUARE INDORE |
| City | Indore |
| District | Indore |
| State | Madhya Pradesh |
| STD Code | 3 |
| Phone | 9243234663 |
Bank profile
Axis Bank is among the recognised banks listed on the Reserve Bank of India's payments network. The Saket Square branch — IFSC UTIB0005178 — extends the bank's services to customers in and around Indore, Madhya Pradesh.
About this branch
The branch is located at GROUND FLOOR AND MEZZANINE FLOOR 24 PATRAKAR COLONY SAKET SQUARE INDORE. It serves the Indore region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of Axis Bank. The IFSC UTIB0005178 is used to identify this branch on the RBI payments network.
Why every Axis Bank branch has a unique IFSC
Before electronic settlement systems went live in India, money transfers between banks relied heavily on demand drafts, mail transfers and telegraphic transfers. These older instruments routinely took days to clear and were prone to misrouting because there was no single machine-readable identifier for a branch. The Reserve Bank of India solved this by issuing each participating branch — including SAKET SQUARE of Axis Bank — its own 11-character IFSC. The code UTIB0005178 is therefore not just an internal reference; it is the digital postcode that lets the RBI's NEFT, RTGS and IMPS rails route funds straight to the right branch ledger without any human intervention.
Today, almost every salary credit, vendor payment, refund and EMI deduction in the country flows through this network, which is exactly why a correct IFSC matters so much. A wrong character can either bounce the transfer or send it to the wrong branch, and reversing such a credit is a manual, time-consuming process. Treat IFSC UTIB0005178 the same way you would treat your account number — verify it once and save it carefully for future use.
How to transfer money using IFSC UTIB0005178
Online transfers in India are powered by three major channels — NEFT, RTGS and IMPS — and each one requires a destination IFSC. Below is a quick guide for using IFSC UTIB0005178 across all three.
How to use IFSC UTIB0005178 for an NEFT transfer
NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Axis Bank's SAKET SQUARE branch. NEFT now settles on a 24x7 basis in half-hourly batches and has no upper limit for retail customers (individual banks may impose their own caps).
- Log in to your internet banking or mobile banking app.
- Choose Add Beneficiary and select NEFT / Other Bank.
- Enter the beneficiary name, account number and the IFSC UTIB0005178.
- Confirm the bank name auto-populates as Axis Bank and the branch as SAKET SQUARE.
- Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.
Real-Time Gross Settlement to SAKET SQUARE
If you need to transfer ₹2 lakh or more in one go to an account at Axis Bank's SAKET SQUARE branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC UTIB0005178 while initiating the transfer and the credit will appear within minutes.
Send money instantly through IMPS
For a real-time, anytime transfer to Axis Bank – SAKET SQUARE, use IMPS. With IFSC UTIB0005178 and the beneficiary's account number you can move up to ₹5 lakh per transaction with instant credit, any day of the year.
NEFT vs RTGS vs IMPS — which one should you use?
All three modes accept the IFSC UTIB0005178 for Axis Bank – SAKET SQUARE, but they differ in speed, minimum amount and use case. The table below summarises the differences so you can pick the right channel for the situation at hand.
| Parameter | NEFT | RTGS | IMPS |
|---|---|---|---|
| Minimum amount | ₹1 | ₹2,00,000 | ₹1 |
| Maximum amount | No RBI cap | No RBI cap | ₹5,00,000 |
| Settlement | Half-hourly batches | Real-time | Real-time |
| Availability | 24x7 | 24x7 | 24x7 |
| Best for | Routine transfers | High-value transfers | Urgent small / mid transfers |
| IFSC required | Yes – UTIB0005178 | Yes – UTIB0005178 | Yes – UTIB0005178 |
For most retail customers crediting the Saket Square branch, NEFT or IMPS will be the quickest and most economical option. RTGS comes in for one-off, high-value movements such as property purchases, vendor settlements or large gifts.
How UPI relates to the IFSC code
UPI lets you pay using a short Virtual Payment Address instead of typing the IFSC every time, but behind the scenes every UPI mandate is mapped to an account number plus an IFSC. For accounts at Axis Bank's SAKET SQUARE branch, the IFSC UTIB0005178 is what the National Payments Corporation of India (NPCI) uses to route the credit when you tap Pay on a UPI app.
That is why, even in the UPI era, it is still worth knowing the IFSC of your home branch — for failed UPI mandates, e-mandate set-ups, third-party platform onboarding and salary or refund credits.
Products and account variants supported
Every account opened at the Saket Square branch is mapped to IFSC UTIB0005178 on the RBI payments network. The branch generally supports the full retail product catalogue of Axis Bank, including:
- Resident savings accounts and salary accounts
- Current accounts for businesses and professionals
- Fixed deposits, recurring deposits and tax-saver deposits
- Demand drafts, banker's cheques and pay orders
- Retail loans — personal, vehicle, education, gold and home
- Credit cards and overdraft facilities (subject to eligibility)
- Third-party investment products such as mutual funds and insurance (through tie-ups)
Whichever product you choose, the IFSC for incoming credits remains UTIB0005178.
Banking services available
The Saket Square branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 3-9243234663.
- Savings, current and salary accounts
- Fixed deposits and recurring deposits
- Personal, vehicle and home loans
- Demat and investment products (where supported)
- Internet banking and mobile banking enrolment
- Debit and credit card issuance
- Locker facilities (subject to availability)
- Foreign exchange services (at authorised branches)
- Bill payments, demand drafts and pay orders
- NEFT / RTGS / IMPS / UPI fund transfers using IFSC UTIB0005178
MICR & cheque-truncation details
Cheques drawn on the Saket Square branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC UTIB0005178 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.
Online banking and IFSC UTIB0005178
Axis Bank customers can register for net banking and the bank's official mobile app once their account at the SAKET SQUARE branch is active. Net banking lets you view balances, download statements, open fixed deposits, request cheque books and initiate NEFT/RTGS/IMPS transfers — all without setting foot in the branch. The IFSC UTIB0005178 is pre-filled by the bank for transfers originating from your own account, and you only need to enter it manually when adding an external beneficiary or sharing your account details with a third party.
Things to verify before sending money
Banking errors are usually small typos that snowball into delayed credits and customer-care follow-ups. Use this short checklist before you confirm any transfer to Axis Bank – SAKET SQUARE:
- The IFSC is exactly UTIB0005178 with no extra spaces.
- The beneficiary's account number matches what they shared, digit for digit.
- The portal auto-fills Axis Bank as the bank name and SAKET SQUARE as the branch.
- The amount and the purpose of payment are correct.
- You have a valid OTP-verifying mobile number on hand.
A 30-second review here saves hours of reconciliation later.
How to reach the Saket Square branch
The branch is located at GROUND FLOOR AND MEZZANINE FLOOR 24 PATRAKAR COLONY SAKET SQUARE INDORE, which puts it inside Indore, the broader Indore district, and the state of Madhya Pradesh. To plan your visit:
- Open Google Maps on your phone and search for “Axis Bank Saket Square branch” — the verified location pin for IFSC UTIB0005178 should appear at the top of the results.
- Confirm the branch is open by calling 3-9243234663 before stepping out, especially around public holidays.
- Carry photo ID and any account-related documents you may need for the transaction you plan to do.
Most banking work — passbook updates, fund transfers, statement downloads — can also be completed online without visiting the branch in person, as long as you know the IFSC UTIB0005178 and your account number.
Verifying IFSC UTIB0005178 from official sources
The IFSC listed on this page is sourced from the RBI's master list and validated against the bank's branch directory. To double-check before transferring large sums, you can also confirm UTIB0005178 by:
- Looking at the cheque leaf – IFSC is printed near the MICR band.
- Opening the passbook's first page.
- Calling the branch directly on 3-9243234663.
- Visiting the bank's official branch locator page.
Branch banking hours and holidays
Indian bank branches typically operate from 10:00 AM to 4:00 PM, Monday to Friday, and from 10:00 AM to 2:00 PM on working Saturdays (usually the 1st, 3rd and 5th Saturdays). The Saket Square branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC UTIB0005178, however, work 24x7.
Branch address & contact
Axis BankSaket Square Branch
GROUND FLOOR AND MEZZANINE FLOOR 24 PATRAKAR COLONY SAKET SQUARE INDORE
Indore, Madhya Pradesh
Phone: 3-9243234663
IFSC: UTIB0005178
Frequently asked questions
Is IFSC UTIB0005178 the same for all accounts at Saket Square branch?
Yes. The IFSC UTIB0005178 is shared by every account held at Axis Bank's Saket Square branch. Only the account number changes from customer to customer.
What is the phone number of Axis Bank Saket Square branch?
You can reach the branch at 3-9243234663 during regular banking hours.
How do I add Axis Bank Saket Square as a beneficiary?
Log in to your internet or mobile banking app, go to Add Beneficiary, enter the account number and IFSC UTIB0005178, and complete OTP verification. Once activated, you can transfer funds at any time.
How quickly will an NEFT transfer using UTIB0005178 be credited?
NEFT settles in half-hourly batches around the clock. Most transfers to Axis Bank – Saket Square reflect within 30 minutes.
Is IFSC UTIB0005178 valid for NEFT and RTGS?
Yes. IFSC UTIB0005178 is valid for all RBI-supported electronic transfer channels including NEFT, RTGS and IMPS.
Where is Axis Bank Saket Square branch located?
Axis Bank's Saket Square branch is located at GROUND FLOOR AND MEZZANINE FLOOR 24 PATRAKAR COLONY SAKET SQUARE INDORE, Indore, Madhya Pradesh.
Final notes
To recap: UTIB0005178 is the IFSC code of Axis Bank, SAKET SQUARE branch, in INDORE, MADHYA PRADESH. It is required for every electronic transfer to an account held at this branch. We keep this page updated with the latest address and contact details, so you can rely on the information here for your day-to-day banking needs.
