IFSC Code of State Bank of India, Market Complex Koyambedu Branch, Tamil Nadu

If you are searching for the IFSC code of State Bank of India, MARKET COMPLEX KOYAMBEDU branch in CHENNAI, TAMIL NADU, this page has every detail you need. The verified IFSC code for this branch is SBIN0020993. You can use it for NEFT, RTGS and IMPS fund transfers, online banking add-payee actions, UPI mandates and any other electronic payment request that asks for an Indian Financial System Code. The information on this page is curated specifically for customers, remitters, employers and businesses who need to credit funds to an account maintained at this branch, and it is structured so you can find what you need within a few seconds of landing here.

You will see the complete branch address, the area STD code and phone number, the city and state, the day-to-day banking services that are typically offered at the MARKET COMPLEX KOYAMBEDU branch, and detailed step-by-step guides for using the IFSC SBIN0020993 across NEFT, RTGS and IMPS rails. A frequently-asked-questions section at the end answers the most common queries we receive about this particular branch.

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, SBIN0020993 is the IFSC of State Bank of India's MARKET COMPLEX KOYAMBEDU branch. The format is fixed: SBIN = bank code, 0 = reserved, 020993 = branch identifier.

About State Bank of India

State Bank of India operates a wide network of branches across India, including the Market Complex Koyambedu branch in Chennai. Each branch is enabled for NEFT, RTGS, IMPS and core banking, allowing customers to send and receive money anywhere in the country using a unique IFSC – in this case, SBIN0020993.

About the Market Complex Koyambedu branch

The Market Complex Koyambedu branch of State Bank of India is situated at OBDUVTBLTOBDUHNN. Customers visiting this branch can complete cash deposits, withdrawals, demand draft requests, cheque clearing, passbook updates and KYC formalities. For online transactions to or from this branch, the IFSC code SBIN0020993 is used.

Branch details at a glance

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 MARKET COMPLEX KOYAMBEDU of State Bank of India — its own 11-character IFSC. The code SBIN0020993 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 SBIN0020993 the same way you would treat your account number — verify it once and save it carefully for future use.

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 SBIN0020993 and the account number together uniquely identify the Market Complex Koyambedu branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

How to transfer money using IFSC SBIN0020993

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 SBIN0020993 across all three.

NEFT to State Bank of India, MARKET COMPLEX KOYAMBEDU using IFSC SBIN0020993

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 SBIN0020993, and confirm that the system picks up State Bank of India – MARKET COMPLEX KOYAMBEDU. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC SBIN0020993

RTGS (Real-Time Gross Settlement) is the fastest high-value transfer mechanism in India. It is meant for transfers of ₹2 lakh and above and settles each transaction individually and instantly. To remit through RTGS to State Bank of India – MARKET COMPLEX KOYAMBEDU, ensure your bank's portal accepts IFSC SBIN0020993 while registering the beneficiary. RTGS is also available 24x7.

Send money instantly through IMPS

For a real-time, anytime transfer to State Bank of India – MARKET COMPLEX KOYAMBEDU, use IMPS. With IFSC SBIN0020993 and the beneficiary's account number you can move up to ₹5 lakh per transaction with instant credit, any day of the year.

Comparing NEFT, RTGS and IMPS for transfers to Market Complex Koyambedu

The right transfer rail depends on how urgent the payment is, how large it is, and whether the receiving bank participates in the chosen scheme. Every option below works with the IFSC SBIN0020993:

• NEFT — best for everyday transfers of any amount; settles in half-hourly batches around the clock.
• RTGS — best for transfers of ₹2 lakh and above; settles each transaction individually in real time.
• IMPS — best when speed matters more than batch scheduling; instant credit up to ₹5 lakh.
• UPI — best for small peer-to-peer payments using a VPA; the underlying account at MARKET COMPLEX KOYAMBEDU is still linked to IFSC SBIN0020993.

For salary credits, vendor payouts and refunds, employers and merchants usually default to NEFT because of its zero per-transaction cost for retail customers and its 24x7 availability.

UPI payments and IFSC SBIN0020993

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 – MARKET COMPLEX KOYAMBEDU is still mapped to IFSC SBIN0020993. 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 SBIN0020993 and the beneficiary's account number to complete the transfer.

Products and account variants supported

Every account opened at the Market Complex Koyambedu branch is mapped to IFSC SBIN0020993 on the RBI payments network. The branch generally supports the full retail product catalogue of State Bank of India, 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 SBIN0020993.

Banking services available

The Market Complex Koyambedu branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 44-24796526.

• 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 SBIN0020993

Digital banking channels

Most day-to-day work that customers used to do at the Market Complex Koyambedu branch counter can now be completed digitally — adding a beneficiary, transferring funds, applying for a fixed deposit, raising a service request or downloading account statements. The IFSC SBIN0020993 is the link between the digital channel and the branch ledger; once a transaction is confirmed, the credit or debit is reflected in the same core banking system that the branch officers see.

How to reach the Market Complex Koyambedu branch

The branch is located at OBDUVTBLTOBDUHNN, which puts it inside Chennai, the broader Chennai district, and the state of Tamil Nadu. To plan your visit:

1. Open Google Maps on your phone and search for “State Bank of India Market Complex Koyambedu branch” — the verified location pin for IFSC SBIN0020993 should appear at the top of the results.
2. Confirm the branch is open by calling 44-24796526 before stepping out, especially around public holidays.
3. 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 SBIN0020993 and your account number.

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 State Bank of India – MARKET COMPLEX KOYAMBEDU:

• The IFSC is exactly SBIN0020993 with no extra spaces.
• The beneficiary's account number matches what they shared, digit for digit.
• The portal auto-fills State Bank of India as the bank name and MARKET COMPLEX KOYAMBEDU 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.

Working hours

Branch counters at Market Complex Koyambedu are usually open from 10 AM to 4 PM on weekdays. Saturdays follow the RBI's alternate-Saturday rule. Even when the branch is closed, NEFT, RTGS, IMPS and UPI transfers addressed to SBIN0020993 continue to work without interruption.

Verifying IFSC SBIN0020993 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 SBIN0020993 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 44-24796526.
• Visiting the bank's official branch locator page.

Branch address & contact

Frequently asked questions

Summary

The IFSC code SBIN0020993 belongs to State Bank of India's MARKET COMPLEX KOYAMBEDU branch, located at OBDUVTBLTOBDUHNN in CHENNAI, TAMIL NADU. 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.