IFSC Code of State Bank of India, SME City Credit Centre Branch, Punjab

Use this page as a one-stop reference for everything related to State Bank of India's SME CITY CREDIT CENTRE branch in LUDHIANA, PUNJAB. The branch's IFSC code SBIN0005023 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 SME CITY CREDIT CENTRE branch, the IFSC SBIN0005023 breaks down as follows: SBIN identifies the bank, 0 is the reserved character, and 005023 identifies this particular branch.

Bank profile

State Bank of India is among the recognised banks listed on the Reserve Bank of India's payments network. The SME City Credit Centre branch — IFSC SBIN0005023 — extends the bank's services to customers in and around Ludhiana, Punjab.

Branch details at a glance

SME City Credit Centre branch overview

Located at DISTLUDHIANA STATE PUNJAB PIN141001, the SME City Credit Centre branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC SBIN0005023 is required for all interbank electronic transfers routed through this branch.

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 SME CITY CREDIT CENTRE of State Bank of India — its own 11-character IFSC. The code SBIN0005023 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 SBIN0005023 the same way you would treat your account number — verify it once and save it carefully for future use.

Account types you can open at the SME City Credit Centre branch

Once you have an account at State Bank of India – SME CITY CREDIT CENTRE, the IFSC SBIN0005023 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 SME City Credit Centre 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 SBIN0005023

How to transfer money using IFSC SBIN0005023

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 SBIN0005023 across all three.

How to use IFSC SBIN0005023 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to State Bank of India's SME CITY CREDIT CENTRE 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 SBIN0005023.
4. Confirm the bank name auto-populates as State Bank of India and the branch as SME CITY CREDIT CENTRE.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

RTGS transfers via IFSC SBIN0005023

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 – SME CITY CREDIT CENTRE, ensure your bank's portal accepts IFSC SBIN0005023 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 – SME CITY CREDIT CENTRE, use IMPS. With IFSC SBIN0005023 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 SME City Credit Centre

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 SBIN0005023:

• 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 SME CITY CREDIT CENTRE is still linked to IFSC SBIN0005023.

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.

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 State Bank of India's SME CITY CREDIT CENTRE branch, the IFSC SBIN0005023 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.

Digital banking channels

Most day-to-day work that customers used to do at the SME City Credit Centre 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 SBIN0005023 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.

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 SBIN0005023 and the account number together uniquely identify the SME City Credit Centre branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

Common mistakes to avoid when using IFSC SBIN0005023

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 – SME CITY CREDIT CENTRE, 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: SBIN0005023.
• 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.

How to reach the SME City Credit Centre branch

The branch is located at DISTLUDHIANA STATE PUNJAB PIN141001, which puts it inside Ludhiana, the broader Ludhiana district, and the state of Punjab. To plan your visit:

1. Open Google Maps on your phone and search for “State Bank of India SME City Credit Centre branch” — the verified location pin for IFSC SBIN0005023 should appear at the top of the results.
2. Confirm the branch is open by calling the branch contact number 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 SBIN0005023 and your account number.

Verifying IFSC SBIN0005023 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 SBIN0005023 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.

Working hours

Branch counters at SME City Credit Centre 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 SBIN0005023 continue to work without interruption.

Branch address & contact

Frequently asked questions

Summary

The IFSC code SBIN0005023 belongs to State Bank of India's SME CITY CREDIT CENTRE branch, located at DISTLUDHIANA STATE PUNJAB PIN141001 in LUDHIANA, 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.