IFSC Code of State Bank of India, Old Malakpet, Hyderabad Branch, Andhra Pradesh

Use this page as a one-stop reference for everything related to State Bank of India's OLD MALAKPET, HYDERABAD branch in HYDERABAD, ANDHRA PRADESH. The branch's IFSC code SBIN0008023 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.

An IFSC (Indian Financial System Code) is an 11-character alphanumeric code issued by the Reserve Bank of India. It uniquely identifies every bank branch that participates in the RBI's electronic fund-transfer systems – NEFT, RTGS and IMPS. The first four characters represent the bank, the fifth is always a zero (reserved for future use), and the last six characters identify the specific branch.

For State Bank of India's OLD MALAKPET, HYDERABAD branch, the IFSC SBIN0008023 breaks down as follows: SBIN identifies the bank, 0 is the reserved character, and 008023 identifies this particular branch.

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 Old Malakpet, Hyderabad branch in Hyderabad, Andhra Pradesh is part of this network and uses the IFSC code SBIN0008023 for all electronic settlement.

About the Old Malakpet, Hyderabad branch

The Old Malakpet, Hyderabad branch of State Bank of India is situated at NEAR NALGONDA CROSS ROAD,HYDERABAD. 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 SBIN0008023 is used.

Branch details at a glance

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 State Bank of India's OLD MALAKPET, HYDERABAD branch came to be assigned the code SBIN0008023.

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 SBIN0008023, money simply cannot be routed to the OLD MALAKPET, HYDERABAD branch electronically.

MICR & cheque-truncation details

Cheques drawn on the Old Malakpet, Hyderabad branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC SBIN0008023 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 SBIN0008023

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 SBIN0008023 across all three.

NEFT to State Bank of India, OLD MALAKPET, HYDERABAD using IFSC SBIN0008023

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 SBIN0008023, and confirm that the system picks up State Bank of India – OLD MALAKPET, HYDERABAD. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

Real-Time Gross Settlement to OLD MALAKPET, HYDERABAD

If you need to transfer ₹2 lakh or more in one go to an account at State Bank of India's OLD MALAKPET, HYDERABAD branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC SBIN0008023 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 – OLD MALAKPET, HYDERABAD, use IMPS. With IFSC SBIN0008023 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 Old Malakpet, Hyderabad

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 SBIN0008023:

• 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 OLD MALAKPET, HYDERABAD is still linked to IFSC SBIN0008023.

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 SBIN0008023

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 – OLD MALAKPET, HYDERABAD is still mapped to IFSC SBIN0008023. 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 SBIN0008023 and the beneficiary's account number to complete the transfer.

Products and account variants supported

Every account opened at the Old Malakpet, Hyderabad branch is mapped to IFSC SBIN0008023 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 SBIN0008023.

Products and services

Customers walking into the Old Malakpet, Hyderabad 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 SBIN0008023

Online banking and IFSC SBIN0008023

State Bank of India customers can register for net banking and the bank's official mobile app once their account at the OLD MALAKPET, HYDERABAD 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 SBIN0008023 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.

Reaching the branch

The Old Malakpet, Hyderabad branch sits at NEAR NALGONDA CROSS ROAD,HYDERABAD. If you are travelling from outside Hyderabad, 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 SBIN0008023 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 – OLD MALAKPET, HYDERABAD:

• The IFSC is exactly SBIN0008023 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 OLD MALAKPET, HYDERABAD 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.

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 Old Malakpet, Hyderabad branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC SBIN0008023, however, work 24x7.

Verifying IFSC SBIN0008023 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 SBIN0008023 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 address & contact

Frequently asked questions

Summary

The IFSC code SBIN0008023 belongs to State Bank of India's OLD MALAKPET, HYDERABAD branch, located at NEAR NALGONDA CROSS ROAD,HYDERABAD in HYDERABAD, ANDHRA 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.