IFSC Code of State Bank of India, Milloniganj Branch, Madhya Pradesh

Below are the complete branch details for State Bank of India, MILLONIGANJ branch, located in BHOPAL, MADHYA PRADESH. The IFSC assigned by the Reserve Bank of India to this branch is SBIN0001507. Whether you want to transfer money, add a beneficiary, verify a cheque or simply confirm the branch address, you will find authentic, up-to-date information on this page that has been cross-checked against the bank's branch directory and the RBI's master list of participants in the National Electronic Funds Transfer system.

The IFSC code is one of the most frequently asked-for pieces of information when somebody wants to send you money or set up a recurring credit such as a salary, EMI auto-debit or supplier payment. Knowing exactly which IFSC belongs to your branch — in this case SBIN0001507 for State Bank of India – MILLONIGANJ — saves you from rejected transfers, returned credits and the back-and-forth that follows them.

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, SBIN0001507 is the IFSC of State Bank of India's MILLONIGANJ branch. The format is fixed: SBIN = bank code, 0 = reserved, 001507 = branch identifier.

Branch details at a glance

About the bank

State Bank of India serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Milloniganj branch in Bhopal, Madhya Pradesh is part of this network and uses the IFSC code SBIN0001507 for all electronic settlement.

About this branch

The branch is located at MILLONIGANJ, JABALPUR, MADHYA PRADESH, PIN 482002. It serves the Bhopal region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of State Bank of India. The IFSC SBIN0001507 is used to identify this branch on the RBI payments network.

Why every State Bank of India 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 MILLONIGANJ of State Bank of India — its own 11-character IFSC. The code SBIN0001507 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 SBIN0001507 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 SBIN0001507

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 SBIN0001507 across all three.

How to use IFSC SBIN0001507 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to State Bank of India's MILLONIGANJ 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).

1. Log in to your internet banking or mobile banking app.
2. Choose Add Beneficiary and select NEFT / Other Bank.
3. Enter the beneficiary name, account number and the IFSC SBIN0001507.
4. Confirm the bank name auto-populates as State Bank of India and the branch as MILLONIGANJ.
5. 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 MILLONIGANJ

If you need to transfer ₹2 lakh or more in one go to an account at State Bank of India's MILLONIGANJ branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC SBIN0001507 while initiating the transfer and the credit will appear within minutes.

Send money instantly through IMPS

For a real-time, anytime transfer to State Bank of India – MILLONIGANJ, use IMPS. With IFSC SBIN0001507 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 SBIN0001507 for State Bank of India – MILLONIGANJ, 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.

For most retail customers crediting the Milloniganj 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 SBIN0001507

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 State Bank of India – MILLONIGANJ is still mapped to IFSC SBIN0001507. 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 SBIN0001507 and the beneficiary's account number to complete the transfer.

Account types you can open at the Milloniganj branch

Once you have an account at State Bank of India – MILLONIGANJ, the IFSC SBIN0001507 stays the same regardless of the type of account you hold. The branch typically supports the following options:

• Savings account — for individuals, with chequebook, ATM card and net-banking access.
• Current account — for sole proprietors, partnerships and companies that need higher transaction volumes.
• Salary account — opened in bulk for corporate employees, often with zero-balance benefits.
• NRE / NRO accounts — for non-resident Indians who want to repatriate or maintain rupee balances in India.
• Fixed deposit and recurring deposit — term-based investment accounts with quarterly or cumulative interest.
• Senior citizen accounts — concessional minimum balance and a small interest rate premium on FDs.
• Minor and student accounts — operated jointly with a guardian until the customer turns 18.

Eligibility, minimum balance and KYC requirements vary by product. Speak to a relationship officer at the branch for the latest schedule of charges and interest rates.

Products and services

Customers walking into the Milloniganj branch can access most of State Bank of India'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 SBIN0001507

MICR code & cheque clearing

Apart from IFSC, every cheque book issued by State Bank of India carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC SBIN0001507 and the account number together uniquely identify the Milloniganj branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

Online banking and IFSC SBIN0001507

State Bank of India customers can register for net banking and the bank's official mobile app once their account at the MILLONIGANJ 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 SBIN0001507 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.

Common mistakes to avoid when using IFSC SBIN0001507

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 State Bank of India – MILLONIGANJ, 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: SBIN0001507.
• 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.

Reaching the branch

The Milloniganj branch sits at MILLONIGANJ, JABALPUR, MADHYA PRADESH, PIN 482002. If you are travelling from outside Bhopal, search for the branch on a maps application using the bank name and locality, or call the branch contact number to ask for landmarks. Many customers find it easier to skip the trip altogether: net banking, mobile apps, NEFT, RTGS, IMPS and UPI all work using the IFSC SBIN0001507 and your account number.

Verifying IFSC SBIN0001507 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 SBIN0001507 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on the branch contact number.
• 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 Milloniganj branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC SBIN0001507, however, work 24x7.

Branch address & contact

Frequently asked questions

Summary

The IFSC code SBIN0001507 belongs to State Bank of India's MILLONIGANJ branch, located at MILLONIGANJ, JABALPUR, MADHYA PRADESH, PIN 482002 in BHOPAL, MADHYA PRADESH. 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.