Use this page as a one-stop reference for everything related to Punjab and Sind Bank's PAYAL branch in PAYAL, PUNJAB. The branch's IFSC code PSIB0021341 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, PSIB0021341 is the IFSC of Punjab and Sind Bank's PAYAL branch. The format is fixed: PSIB = bank code, 0 = reserved, 021341 = branch identifier.
About the bank
Punjab and Sind Bank serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Payal branch in Payal, Punjab is part of this network and uses the IFSC code PSIB0021341 for all electronic settlement.
Payal branch overview
Located at NEAR BUS STAND,PAYAL,TOWN PAYAL,DISTT.LUDHIANA 141119,PUNJAB, the Payal branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC PSIB0021341 is required for all interbank electronic transfers routed through this branch.
Branch details at a glance
| Bank Name | Punjab and Sind Bank |
|---|---|
| Branch | Payal |
| IFSC Code | PSIB0021341 |
| MICR Code | Refer to cheque leaf |
| Branch Address | NEAR BUS STAND,PAYAL,TOWN PAYAL,DISTT.LUDHIANA 141119,PUNJAB |
| City | Payal |
| District | Ludhiana |
| State | Punjab |
| STD Code | 91 |
| Phone | 8284893368 |
The role of IFSC in India's payments network
India's electronic payment infrastructure — NEFT, RTGS, IMPS, UPI and the National Automated Clearing House (NACH) — is built on a single principle: every participating bank branch must be uniquely identifiable by an alphanumeric code. The Reserve Bank of India introduced the IFSC system to fulfil this requirement, and that is how Punjab and Sind Bank's PAYAL branch came to be assigned the code PSIB0021341.
Whether you are receiving a salary on the first of the month, paying a vendor invoice, settling an EMI, or accepting a refund from an e-commerce platform, the IFSC is the silent piece of metadata that tells the network where your account lives. Without IFSC PSIB0021341, money simply cannot be routed to the PAYAL branch electronically.
MICR & cheque-truncation details
Cheques drawn on the Payal branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC PSIB0021341 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.
How to transfer money using IFSC PSIB0021341
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 PSIB0021341 across all three.
NEFT to Punjab and Sind Bank, PAYAL using IFSC PSIB0021341
National Electronic Funds Transfer is the simplest way to move money into an account at this branch. NEFT works around the clock, including Sundays and public holidays, and settles in half-hourly batches.
To send funds, add the recipient as a beneficiary in your bank's online portal, key in the account number, paste the IFSC PSIB0021341, and confirm that the system picks up Punjab and Sind Bank – PAYAL. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.
Real-Time Gross Settlement to PAYAL
If you need to transfer ₹2 lakh or more in one go to an account at Punjab and Sind Bank's PAYAL branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC PSIB0021341 while initiating the transfer and the credit will appear within minutes.
Send money instantly through IMPS
For a real-time, anytime transfer to Punjab and Sind Bank – PAYAL, use IMPS. With IFSC PSIB0021341 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 PSIB0021341 for Punjab and Sind Bank – PAYAL, 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 – PSIB0021341 | Yes – PSIB0021341 | Yes – PSIB0021341 |
For most retail customers crediting the Payal 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.
UPI payments and IFSC PSIB0021341
UPI (Unified Payments Interface) has become the default way for individuals to send money in India. While most UPI transactions are addressed using a Virtual Payment Address (VPA) like name@bank, the underlying account at Punjab and Sind Bank – PAYAL is still mapped to IFSC PSIB0021341. When a customer links a savings or current account to a UPI app for the first time, the app silently looks up this IFSC against the account number to verify the account exists. The VPA acts as a friendly alias on top of the same plumbing.
If a UPI transfer to or from this branch fails, the most common reasons are an inactive UPI handle, a daily limit breach or a temporary outage at one of the participating banks — not the IFSC. You can always fall back to NEFT or IMPS using the IFSC PSIB0021341 and the beneficiary's account number to complete the transfer.
Products and account variants supported
Every account opened at the Payal branch is mapped to IFSC PSIB0021341 on the RBI payments network. The branch generally supports the full retail product catalogue of Punjab and Sind 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 PSIB0021341.
Products and services
Customers walking into the Payal branch can access most of Punjab and Sind Bank's standard product suite, including:
- Account opening – savings, current, NRI, salary
- Term deposits and recurring deposits
- Retail and small-business loans
- Insurance and mutual-fund tie-ups
- Locker, safe deposit and ATM card services
- Online and mobile banking activation
- Electronic transfers via IFSC PSIB0021341
Online banking and IFSC PSIB0021341
Punjab and Sind Bank customers can register for net banking and the bank's official mobile app once their account at the PAYAL 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 PSIB0021341 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.
How to reach the Payal branch
The branch is located at NEAR BUS STAND,PAYAL,TOWN PAYAL,DISTT.LUDHIANA 141119,PUNJAB, which puts it inside Payal, the broader Ludhiana district, and the state of Punjab. To plan your visit:
- Open Google Maps on your phone and search for “Punjab and Sind Bank Payal branch” — the verified location pin for IFSC PSIB0021341 should appear at the top of the results.
- Confirm the branch is open by calling 91-8284893368 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 PSIB0021341 and your account number.
Common mistakes to avoid when using IFSC PSIB0021341
An incorrect IFSC almost always results in a failed transfer or, worse, a credit to the wrong branch. Before you click Confirm on a transfer to Punjab and Sind Bank – PAYAL, double-check for these issues:
- Confusing 0 with O. The fifth character of every IFSC is the digit
0, not the letter O. Read carefully. - Spaces or hyphens. Do not put spaces in the IFSC. It is exactly 11 characters:
PSIB0021341. - Wrong branch. A bank can have dozens of branches in the same city. Make sure you are using the IFSC for the actual branch where the beneficiary holds the account, not just any nearby branch.
- Old IFSC after a merger. If two banks have merged, the IFSC may have been reissued. Always verify with a recent passbook or cheque leaf.
- Copy-paste from chat. Auto-correct on phones can silently change letters in IFSC codes. Type carefully or copy from a trusted source like the cheque book.
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 Payal branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC PSIB0021341, however, work 24x7.
Other ways to verify the IFSC code
While this page already lists the verified IFSC PSIB0021341 for Punjab and Sind Bank – PAYAL, you can cross-check the code from any of these sources before initiating a high-value transfer:
- The front of the cheque book issued by the branch – the IFSC is printed at the top of every leaf.
- The first page of your passbook.
- The bank's official website under the branch locator.
- The Reserve Bank of India's IFSC search portal.
- Net banking dashboards usually display the home-branch IFSC under account details.
Branch address & contact
Punjab and Sind BankPayal Branch
NEAR BUS STAND,PAYAL,TOWN PAYAL,DISTT.LUDHIANA 141119,PUNJAB
Payal, Punjab
Phone: 91-8284893368
IFSC: PSIB0021341
Frequently asked questions
What is the difference between IFSC and MICR code?
IFSC is an 11-character alphanumeric code used for online transfers, while MICR is a 9-digit numeric code printed on cheques and used by cheque-clearing machines. Both identify the Payal branch but serve different purposes.
Is IFSC PSIB0021341 valid for NEFT and RTGS?
Yes. IFSC PSIB0021341 is valid for all RBI-supported electronic transfer channels including NEFT, RTGS and IMPS.
How do I add Punjab and Sind Bank Payal as a beneficiary?
Log in to your internet or mobile banking app, go to Add Beneficiary, enter the account number and IFSC PSIB0021341, and complete OTP verification. Once activated, you can transfer funds at any time.
Does Punjab and Sind Bank Payal branch offer locker facilities?
Locker availability depends on branch size and customer demand. Please contact the branch on 91-8284893368 to confirm.
What is the phone number of Punjab and Sind Bank Payal branch?
You can reach the branch at 91-8284893368 during regular banking hours.
Is IFSC PSIB0021341 the same for all accounts at Payal branch?
Yes. The IFSC PSIB0021341 is shared by every account held at Punjab and Sind Bank's Payal branch. Only the account number changes from customer to customer.
Summary
The IFSC code PSIB0021341 belongs to Punjab and Sind Bank's PAYAL branch, located at NEAR BUS STAND,PAYAL,TOWN PAYAL,DISTT.LUDHIANA 141119,PUNJAB in PAYAL, PUNJAB. Use this code along with the beneficiary's account number for any NEFT, RTGS or IMPS transfer to this branch. Bookmark this page for quick reference whenever you need the branch's banking details.
